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 North Carolina, 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. North Carolina 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, after the purchase. It is crucial for buyers to thoroughly review and understand the terms of the agreement before signing and to consider whether the transaction is financially prudent. Buyers should be aware that once the contract is signed, the sale is typically considered final, and any return or cancellation would be at the discretion of the dealer and not guaranteed by law.