Los Angeles, CA asked in Banking and Contracts

Q: What options do I have about returning a car I financed less than 30 days ago because I liked my trade in better

Truck was better value

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1 Lawyer Answer
James L. Arrasmith
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Answered

A: Returning a car that you financed less than 30 days ago because you prefer your trade-in truck is a complex situation. First, review the terms of your financing agreement and the dealership's return policy to understand your options. Some dealerships offer a short window for returning a vehicle, but this may vary depending on the specific terms of your contract. Next, consider discussing your situation with the dealership's sales manager or finance department. They may be willing to negotiate a solution, such as trading the financed car back for your trade-in truck, but be prepared for potential financial implications such as fees or adjustments to the trade-in value.

If the dealership is unwilling to facilitate the return, you could explore the possibility of selling the financed car privately to pay off the loan balance. However, this option may involve additional time and effort, as well as potential financial loss due to depreciation. Alternatively, you could seek legal advice to understand your rights and obligations under the financing agreement and applicable consumer protection laws. A legal professional can help you navigate the situation and determine the best course of action based on your individual circumstances.

Ultimately, returning a financed car within such a short timeframe can be challenging, but it's important to address your dissatisfaction with the purchase promptly and responsibly. Consider all available options and communicate openly with the dealership to find a resolution that minimizes any negative impact on your financial situation. Keep documentation of all interactions and agreements related to the return process to protect your interests and ensure clarity moving forward.

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