There is no buyer’s remorse, cooling-off, or right-to-rescind law that requires the seller of a used car to cancel the sale or accept the return of the car. When you sign the contract for the purchase of the car, you are legally obligated to the purchase. Because of the finality of the purchase agreement (or an offer, acceptance, and the exchange of the payment and the car), it is important to have the car inspected by an independent auto service technician, and carefully read and understand the agreement before you sign it or agree to buy the car.

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).

Used cars are generally sold and purchased “as is,” which means with all of the car’s defects and flaws, and with no warranty. In other words, it is generally caveat emptor—meaning “buyer beware!” But there are currently six states that have some kind of a lemon law (warranty) for used cars: Connecticut, Massachusetts, Minnesota, New Jersey, New Mexico, and New York.

In New Jersey, the sale of used cars is generally considered final once the contract is signed, meaning there is no statutory 'cooling-off' period or buyer's remorse law that allows a buyer to cancel the sale or return the car simply because they have changed their mind. Buyers are legally bound to the purchase once the contract is executed, which underscores the importance of having the vehicle inspected by an independent technician and thoroughly reviewing the contract before agreeing to the purchase. While used cars are typically sold 'as is' without warranty, New Jersey is one of the few states that has a used car lemon law. This law provides some protection to consumers by requiring dealers to provide a warranty for used cars that meet certain criteria, such as age and mileage. This warranty can cover the cost of repairs for certain defects that may arise after purchase. However, it is crucial for buyers to understand the terms of the warranty and the vehicle's condition before finalizing the sale.