I purchased a car new car yesterday and I am not sure if I want to keep it. Can I return it? I'm not driving it anywhere because I don't want to put miles on it. The dealership says they have an exchange policy but no where in their paperwork does it say if it can be returned or not.
Contrary to popular belief, Missouri does not have a '3-day' law or a 'cooling off' period. The only exception is for the old-fashioned door-to-door salesman type of purchase.
However, WHY are you unsure about this? Did the dealer 'oversell' the car? Did the dealer add a lot of unneeded and unwanted things to your contract, making the payments more than you are comfortable paying?
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No, MO state law and the dealer's policy don't allow a return because of your remorse. If you have the option of exchanging the car, you may want to take advantage of that.
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It is a common misconception that there is a cooling off period after signing a contract. There is such a beast in connection regulation z in relation to a purchase secured by your primary residence and there is an FTC rule relative to door to door sales but not car sales.
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