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 Iowa, there is no specific buyer's remorse or cooling-off period law that obligates a car dealer to cancel a sale or accept the return of a vehicle once the purchase or lease contract has been signed. This means that once you sign a contract to buy or lease a car, you are legally bound to that agreement. It is crucial to thoroughly review and understand the terms of the contract before signing it. Additionally, while some states may have laws that require car dealers to offer contract cancellation options for an additional fee, allowing buyers to return the car within a limited time frame, such as 2 days, Iowa does not have such a statute for car sales. Therefore, it is important for consumers in Iowa to make sure they are making a well-informed decision before committing to the purchase or lease of a vehicle.