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 Texas, there is no specific buyer's remorse law that allows a consumer to return a new or used car after purchase simply due to regret. Once a purchase or lease contract for a car is signed in Texas, it becomes a legally binding agreement, and the buyer is obligated to adhere to the terms of the contract. Texas law does not mandate a cooling-off period or right-to-rescind for car sales, unlike some other types of consumer contracts that may have a statutory cancellation period. It is crucial for buyers to thoroughly review and understand the contract before signing it. While some states may require dealers to offer a contract cancellation option for an additional fee, allowing the return of a used car within a short timeframe, Texas does not have such a requirement for car dealers. Therefore, it is important for consumers to make a well-informed decision before finalizing a car purchase or lease in Texas.
