How Do You Return A Financed Car?
Buying a new or used car is an exciting time. But in some instances, car buyers splurge on a car purchase and they finance a vehicle that’s beyond their budget. Fortunately, there are ways to cancel an auto purchase and return a financed car. And depending on the loan contract, you may be able to return a financed car and avoid credit damage. Review the auto contract. Depending on the auto dealer, you may be able to return a financed vehicle within a specific time period and cancel the agreement, usually within three days of the purchase. Read your sales agreement. Notify the dealership and finance company. If your sales agreement permits returning a financed vehicle, contact the auto dealer and your auto lender immediately. Mention you intent to return the car and cancel the auto loan. Return the car in good condition. Excessive mileage and damages void a return policy, and the dealership will not accept the car. Be prepared to pay interest on the car loan. Interest on the car loan in
