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 Wisconsin, there is no specific buyer's remorse or cooling-off period law that allows a buyer to cancel a car purchase or lease simply because they have changed their mind after signing the contract. Once the contract for the purchase or lease of a vehicle is signed, the buyer is legally bound to the terms of that agreement. Wisconsin law does not mandate car dealers to offer a contract cancellation option for an additional fee that would allow a buyer to return a vehicle within a short timeframe, 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, unless the contract specifically provides for it, or there are legal grounds such as fraud or misrepresentation, they generally do not have the right to cancel the sale once the contract is executed.