Reply With QuoteI think its a good idea, might give the buyer the edge even when the dealer pushes you to buy the car..
Cuzz if you find a better deal take it back..
Would you pay for a cooling off period?
California buyers now have that right and more for used cars since the Governator signed the Car Buyer's Bill Of Rights.
Two-day return option for used cars
Auto dealers must offer used car buyers the choice to obtain a two-day return option. The option will be available even if the car is being sold “as is”--without a warranty. Vehicles costing more than $40,000, off-road vehicles, and motorcycles are excluded. Dealers may charge varying amounts for the option, depending on the price of the car, and can also charge an additional restocking fee upon return. Any charge for the return option must be credited toward the restocking fee. Consumers may return vehicles for any reason. Vehicles must be returned in “the same condition, normal wear and tear excepted” unless the vehicle had a problem not caused by the buyer. Dealers must allow buyers to drive the vehicles at least 250 miles during the 2 days.
Sample charges
If the vehicle’s cash price is less than $5,000, the dealer may charge up to $75 for the return option, and up to $175 for the restocking fee. If the buyer pays $75 for the return option, that $75 will be credited toward any restocking fee.
If the vehicle’s cash price is more than $10,000 but less than $30,000, the dealer may charge up to $250 for the return option, and up to $500 for the restocking fee.
I wonder if salesman will be will to gamble on it and push the sale of the option.
I think its a good idea, might give the buyer the edge even when the dealer pushes you to buy the car..
Cuzz if you find a better deal take it back..
On the surface it sounds to me like it was written by the auto dealer industry.
It's like I'm buying a two day warranty that will cost me additionally twice that much to enact it.
Bend over.
Insurance with a high deductable.Originally Posted by Bell
Is buyers remorse a big problem in California? It just seems odd that you need to pay more to have the priviledge/option of returning the car. Then if you want to return the car you get to pay again for a restocking fee, how is that good?
Dealers may charge varying amounts for the option, depending on the price of the car, and can also charge an additional restocking fee upon return. Any charge for the return option must be credited toward the restocking fee. Consumers may return vehicles for any reason.
I suspect that supports gave a lot up on the cooling off period to get the other areas of the law in. The cap on interest rate markups, credit score discloser requirements, ad-on item cost discloser requirements, and the loan packing rules seem like really good things to protect the more innocent buyer. The Cooling off period is easy to understand and will get most of the press, but it doesn't really seem like the meat of the law.Is buyers remorse a big problem in California? It just seems odd that you need to pay more to have the priviledge/option of returning the car. Then if you want to return the car you get to pay again for a restocking fee, how is that good?
Whatever happened to doing research and test drives? Are there really that many people laying down 30K at the drop of a hat?
Wow... talk about money burning a hole in your pocket!
A real consumer protection law would say that any car sold in california could be returned in a 48 hours period for X amount of dollars.
That protects the buyer from getting a horrid lemon or pressured into an unwise financial desicion. It would also protect the dealer from people more or less buying cars for two days and recoups the cost of selling a car. Everyone is safer from people trying to screw them over.
This law however lets the dealer make money with this two day insurance thing as well as give them a firm legal leg to stand on when they try to pressure or screw over customers. "You didn't take the two day insurance, not our fault your intrest rate is 120% and the motor mounts were replaced with dry wall screws." Score another point for big business.
Although this does remind me a bit of legislating cheerleading routines in the face of a mounting school budget crisis.
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