There is no buyer’s remorse, cooling-off, or right-to-rescind law that requires the seller of a new or used car to cancel the sale or accept the return of the car. When you sign the contract for the purchase or lease of the car, you are legally obligated to the purchase or lease. Because of the finality of the lease or purchase agreement, it is important to carefully read and understand the agreement before you sign it—and to determine whether buying or leasing the car is a good financial decision for you. Some state laws require car dealers to offer extra protections for buyers of used cars—such as a contract cancellation option agreement that the buyer may purchase for an additional fee, and that will allow the buyer to return the car and cancel the contract within a short period of time (2 days).

In California, once you sign a contract to purchase or lease a car, you are legally bound to that agreement, and there is no statutory 'cooling-off' period that allows you to cancel the sale or return the car simply because you've changed your mind. This underscores the importance of thoroughly reviewing and understanding the contract before signing it. However, California does have specific protections for used car buyers. Under the Car Buyer's Bill of Rights (Civil Code Section 2981.9), certain used car dealers are required to offer a Contract Cancellation Option Agreement. This agreement, which can be purchased for an additional fee, typically allows the buyer to return the car within two days of purchase under specific conditions. It's important to note that this option is not automatically included in the sale; it must be offered by the dealer and purchased by the buyer.