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 Oregon, there is no statutory right to a 'cooling-off' period or buyer's remorse law that would allow a consumer to cancel a car purchase or lease once the contract has been signed. Once you sign a vehicle purchase or lease agreement, you are legally bound to its terms. This makes it crucial to thoroughly review and understand the contract before committing to it. Additionally, it's important to assess whether the financial implications of buying or leasing are in your best interest. While some states may have laws that require dealers to offer a contract cancellation option for an additional fee, allowing the buyer to return the car within a specified short period, such as 2 days, Oregon does not mandate this for car sales. Consumers in Oregon should be aware that all sales are generally considered final upon signing the contract, and they should proceed with caution and due diligence when entering into such agreements.