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 Louisiana (LA), there is no statutory right to cancel a car purchase or lease once you have signed the contract, commonly referred to as 'buyer's remorse' laws. This means that when you sign a contract to buy or lease a car, you are legally bound to that agreement. Louisiana law does not require car dealers to offer a contract cancellation option for an additional fee that would allow a buyer to return the car within a short period, such as 2 days, which is a protection offered in some other states. It is crucial for buyers in Louisiana to thoroughly review and understand the terms of the car purchase or lease agreement before signing, as well as to consider the financial implications of the transaction. Once the contract is signed, the sale is typically considered final, and the buyer is expected to fulfill the terms of the agreement.