Full question:
I just bought a car from a dealer and I really can’t afford it. Does Ohio have an impulse buy clause or anything like that?
- Category: Automobiles
- Date:
- State: Ohio
Answer:
Buyer's remorse refers to the feelings of regret or anxiety after making a purchase. While there are laws to protect consumers from defective products or misleading advertising, there is typically no law requiring merchants to offer refunds or exchanges. If you experience a serious error in your purchase, check if the dealer has a return or refund policy.
In Ohio, used car dealers are not legally required to provide a three-day right to cancel. This privilege exists only if the dealer chooses to offer it. The Federal Trade Commission (FTC) has a 'Cooling Off Rule' that allows consumers to cancel certain sales made outside the seller's regular place of business within three business days, provided the purchase was over twenty-five dollars. If you notify the seller within this period, you can receive a full refund, and the contract must be canceled without further obligation. The seller must inform you about your cancellation rights and provide the necessary documentation.
However, some sales cannot be canceled, even if they occur in covered locations, such as those negotiated at the seller's regular business site.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.