Q: Can I get my down payment back after2days signing everything at a dealership in California if I need to return the car?
It’s been two days since I got a brand new Honda civic 2024. I got approved from a bank for a car loan and signed everything. Turns out I need to return the car due to financial troubles, can I get my down payment of $3,500 back?
A:
In California, there is no universal "cooling-off" period or right to cancel a car purchase once you have signed the contract. This means that once you have signed the sales contract and taken possession of the vehicle, the sale is considered final, and the dealer is not legally required to accept a return of the car or refund your down payment.
However, there are a few exceptions to this rule:
1. If the dealer has a specific return policy that allows you to return the car within a certain time frame, you may be able to get your down payment back. Check your contract or ask the dealer about their return policy.
2. If you can prove that the dealer committed fraud or misrepresented the vehicle, you might have grounds to cancel the contract and receive a refund.
3. If the car has a significant defect that the dealer cannot fix, you may be able to return it under California's Lemon Law. However, this typically applies to issues discovered after taking possession of the vehicle.
In your case, wanting to return the car due to financial troubles is not a legal justification for the dealer to refund your down payment or cancel the contract. It's best to discuss your situation with the dealer and see if they are willing to work with you, but they are not legally obligated to do so. If you cannot afford the car payments, you may need to consider other options, such as selling the car privately or working with your lender to discuss potential solutions.
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