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In the State of Illinois there is no right of rescission when purchasing a vehicle from an automobile dealership, IF you take delivery at the dealership or at the dealership's special event location. There is some question whether there is ever a three day right of rescission for motor vehicle sales.
The Colorado Department of Revenue, Motor Vehicles Division, Dealer Licensing Board may have consumer information that is the most current status of consumer rights. Another good resource is the Colorado Attorney General's Consumer Affairs office.
What else can I help you with?
Does the 3 day right of rescission rule apply to car loans in Minnesota?
no
Is there a 3 day right of reScission on auto loans in Maryland?
No. Maryland does not offer a "cooling-off period" for vehicle purchases.
Does the 3 day right of rescission rule apply to construction loans?
Generally no. The Truth in Lending Act allows a right of rescission on equity lines of credit and refinances. You can read more about it at the link below.
Does the 3 day right of rescission rule apply to car loans in Indiana?
No, it only applies to unsolicited purchases, not autos.
Does the 3 day right of rescission rule apply to home loans in Michigan?
The three-day right of rescission rule applies to all loans covered under the federal Truth in Lending Act. This is a federal law that applies to loans in all 50 states that fall under the guidelines set in the act. The majority of types of typical loans that homeowners take out on residential properties will be covered by the TILA, and have a three-day right or rescission, including loans in Michigan.
Does the 3 day right of rescission rule apply to car loans in South Dakota?
No, the buyers remorse law does not apply to the purchase of a new or used vehicle.
Does New Jersey have a right of rescission rule for used automobile loans?
The right of rescission rule in New Jersey does not apply to used automobile loans. The New Jersey Consumer Fraud Act however does protect consumers for three days to rescind on a health club contract.
Does Ohio have a right of rescission rule for automobile loans?
no
Does the 3 day right of rescission rule apply to used car loans in Michigan?
No, the three day rule does not apply to auto purchases and certainly not to a pre-owned ones. Customer beware!
Is there a 3 day right of rescission on auto loans in the state of Louisiana?
No, Louisiana does not provide a three-day right of rescission for auto loans. The right of rescission typically applies to certain types of loans secured by real estate, but auto loans are not included in this provision. Once an auto loan contract is signed, it is generally binding, and borrowers should carefully review the terms before finalizing the agreement.
Does the 3 day right of rescission rule apply to lot loans?
"You should have three days (not including Saturday, Sunday or a bank holiday) to rescind your loan. Call the title company and find out if it must be in writing. Usually there is a document in the pack of papers they give you that states the dates involved and how to do this." *Correction:* The 3 day right of rescission applies only to Refinancing, Home Equity loans, or 2nd Mortgages of your primary residence. It would not apply to lot loans because lot loans are considered a secondary transaction (not your primary residence). Also, Saturday would count as a rescission day. Sunday, or holidays do not count.
Does the 3 day right of rescission rule appply to car loans in HI?
Nope unless its a door to door sale there is no rescission period in the state of Hawaii.
