Is there a buyer's remorse law in Colorado?

Answer 1

THERE IS NO THREE-DAY RIGHT TO CANCEL ON A CAR PURCHASE.

If a consumer signs a contract to purchase a vehicle, he or she has bought the car. The only way out of it is if there is a failure to perform on one of the contract items - for instance, delivery date not adhered to; financing contingent upon co-signer did not come through; car not as described, etc. Before dealing with a new car dealer, consumers might want to consult www.edmunds.com to find out what to pay for a car and "blue books" to find out what the new car and their trade-in is worth. If someone cancels or backs out of a deal, the dealer may or may not hold them accountable for the entire amount -- it is up to the dealer. But if they allow the contract to be voided, the dealer can only keep $500.00 of the consumer's deposit, unless a greater loss to the dealership can be substantiated. http://www.ago.state.co.us/consprot/CoResourceGuide.cfm#C

Answer 2

Yes, but it does not apply to the purchase of an automobile. Once you purchase a vehicle it is yours, and cannot be returned for a refund. The buyer's remorse law or cooling off period, only applies to unsolicited sales.

Answer 3

For some things, yes.

Cars are not one of those things (unless you buy it at an auto show or some place that isn't the dealer's regular place of business).

Answer 4

Delaware does have a buyer's remorse law. A person has three days to return a car to the dealer if they have changed their mind.