What can I do if I regret buying a car?
Asked by: Geovany Gislason DDS | Last update: January 29, 2026Score: 5/5 (1 votes)
To get over car buyer's remorse, first acknowledge the feeling, then identify its cause (money, anxiety, etc.), and give it time to fade as you enjoy the car's benefits like safety or features, while also talking to friends and reviewing your purchase for potential dealer returns or exchanges if needed. Focus on the good aspects and your original reasons for buying, rather than dwelling on alternatives you didn't choose.
How long do you have after you buy a car to change your mind?
Consumers who purchase a used car for less than $40,000 must be offered a two-day contract cancellation option agreement. Note There is no “cooling off” period unless you purchase a contract cancellation option agreement.
Can I back out of a car purchase after signing?
Generally, no, you can't easily cancel a car purchase after signing because contracts are legally binding, as there's typically no "cooling-off" period for car sales, but you might if the dealer committed fraud, misrepresented the vehicle, or if you haven't taken delivery yet; your best bet is to act immediately, contacting the dealer to plead your case, as some may allow cancellation, possibly for a fee.
How can I get out of a car I just bought?
The only option to dispose of the car without selling it is to arrange a voluntary repossession with the lender. However, this will negatively impact your credit score and may leave you responsible for any deficiency between the amount owed and what the bank receives at auction.
Is it normal to feel guilty after buying a car?
Buyers regret is a very normal thing, experienced by almost everyone after making a large purchase like a car. You begin to wonder, ``Could I really afford this?'' or ``Did I really get a good deal? Did I pick the best car or should I have bought the other one I was looking at ?''.
Why So Many REGRET Buying A Vehicle in 2025
What to do if you regret a car purchase?
There is no cooling off period when it comes to buying a car. If you want to get out of a car purchase, the only way is to prove the car dealer committed fraud in the sale of the purchase. This is called a fradulently induced contract, it does not matter if it was sold AS IS.
What should a $30,000 car payment be?
For a $30,000 car, average monthly payments vary but typically fall between $300 and $550+, depending heavily on your down payment, loan term (3-6 years), and interest rate (APR); for example, a 5-year loan with 6% APR and a small down payment might be around $520, while a shorter term or higher rate increases the payment.
What to do if I don't like the car I just bought?
The vast majority of car dealers have no written policies that allow you to rescind the purchase agreement you've signed. This means your only recourse is to plead your case. You can say that you have discovered you don't like the car or that it will stretch your budget and put you in dire financial straits.
What is the 30-60-90 rule for cars?
The 30-60-90 rule for cars is a preventive maintenance guideline recommending major service milestones at 30,000, 60,000, and 90,000 miles to keep your vehicle reliable, extend its life, and prevent costly breakdowns by servicing key components like fluids, filters, belts, and spark plugs at these intervals. It acts as a car's "health plan," addressing wear before it causes major issues, but specific services can vary by manufacturer, so checking your owner's manual is crucial.
Can I cancel my car finance and give the car back?
You can cancel car finance and return the car, usually through a voluntary repossession/surrender, but it's a serious step with significant financial consequences, including still owing money (a deficiency balance) and major damage to your credit score, so it's best as a last resort after exploring options like refinancing, selling the car, or negotiating with the lender for temporary relief like forbearance.
Can I change my mind about a car purchase?
Generally, you cannot change your mind and return a car after buying it because car sales are legally binding contracts, not retail purchases with automatic "cooling-off" periods, but exceptions exist if the car is a lemon, the dealer has a written return policy, financing falls through, or you can prove dealer fraud. If you have buyer's remorse, your best bet is to immediately contact the dealership's management (sales manager or general manager) and negotiate, as it's at their discretion, but acting fast (within a day or two) is crucial.
How many days do I have to back out of a car loan?
Q: Do I have a three (3) day right to cancel my car contract? However, with respect to conditional sale contracts (financed, not cash sale) there is normally a Seller's Right to Cancel provision, allowing the Dealership a ten (10) day right to cancel if the dealership cannot obtain lender financing as planned.
What is the red flag rule for car dealers?
The Red Flags Rule requires auto dealerships to create a written Identity Theft Prevention Program (ITPP) to detect, prevent, and mitigate identity theft, especially in credit/lease deals, by identifying suspicious patterns (red flags) like altered IDs, inconsistent addresses, or fraud alerts, and having procedures to respond, report to the FTC, and train staff, preventing financial loss from identity fraud.
What happens if I buy a car and want to return it?
If you buy a car and want to return it, you generally can't unless the dealership has a specific, often short (24-72 hour) return policy or offers "spot delivery," but your best bet is to immediately contact the dealer manager to plead your case, as laws typically bind you to the signed contract, except for major defects covered by lemon laws.
What is car buyer's remorse?
Buyer's remorse can be described as a feeling of anger, disappointment, or even depression after making a big purchase that you regret. It's common with major purchases, like real estate, boats, and vehicles, which often involve a long-term commitment.
Can I cancel a new car contract after signing?
Generally, no, you can't easily cancel a car purchase after signing because contracts are legally binding, as there's typically no "cooling-off" period for car sales, but you might if the dealer committed fraud, misrepresented the vehicle, or if you haven't taken delivery yet; your best bet is to act immediately, contacting the dealer to plead your case, as some may allow cancellation, possibly for a fee.
What is Dave Ramsey's rule on car buying?
Dave Ramsey's core car buying rule is to pay cash and avoid car payments entirely, as vehicles depreciate rapidly, trapping you in debt. If you must finance, he advises the total value of all vehicles shouldn't exceed half your annual income, and new cars are generally discouraged unless you're very wealthy, preferring older, reliable used cars bought outright.
How much would a $70,000 car payment be?
A $70,000 car payment varies significantly but expect roughly $900-$1,300/month for a loan (with decent terms like 6-7% APR, 60-72 months, and a down payment) or $700-$1,200/month for a lease, depending heavily on down payment, interest/money factor, term length, taxes, and your credit score. A larger down payment and shorter term reduce monthly costs, while higher interest rates or longer terms increase them.
What is the 6000 car rule?
The Section 179 tax deduction gives vehicles under 6,000 pounds that are used for business purposes a deduction cap of $12,400 and $30,500 for vehicles over 6,000 but under 14,000 pounds.
Can I take a car back if I don't like it?
If you've purchased a new or used car and have second thoughts, you usually can't return it. Dealerships are not legally obligated to accept returns, issue you a refund or offer an exchange after you've signed the sales contract. However, there are exceptions to this rule.
What is toxic car syndrome?
Toxic Car Syndrome (or Sick Car Syndrome) refers to health issues from inhaling mold, bacteria, or volatile organic compounds (VOCs) in a vehicle, often caused by moisture buildup in the A/C system or poor hygiene, leading to symptoms like headaches, sneezing, coughing, and drowsiness, similar to flu-like or allergy symptoms. It's preventable by regularly cleaning the interior and A/C system, replacing filters, airing out the car, and fixing leaks.
Is it normal to feel bad after buying a car?
You might be experiencing buyer's remorse, which is a common feeling of regret, disappointment, or even anger after making a major purchase like a car, due to the long-term commitment involved. It's a normal reaction and often happens with big purchases.
How much is a $25,000 car payment for 72 months?
Rates and terms are subject to change without notice. Example: A six year fixed-rate loan for a $25,000 new car, with 20% down, requires a $20,000 loan. Based on a simple interest rate of 3.4% and a loan fee of $200, this loan would have 72 monthly payments of $310.54 each and an annual percentage rate (APR) of 3.74%.
How to get a free car from a dealership?
One of the most straightforward ways to get a free car is through promotional contests or giveaways run by dealerships. Car dealerships occasionally host contests to boost marketing or clear out older models. These giveaways might involve simple raffle-style contests, social media campaigns, or community events.
What credit score is needed for a $30,000 car loan?
For a $30,000 car loan, a good credit score (670+) gets you the best rates, but you can often get approved with a fair score (600-660), though with higher interest rates, and even lower scores (500-599) can qualify for "subprime" loans but with much higher costs and potentially larger down payments, with lenders also considering income, debt, and employment.