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Dealers are NOT required by Tennessee or federal law to give used car buyers a right to cancel their contract. According to the Federal Trade Commission, "...the right to return the car in a few days for a refund exists only if the dealer chooses to offer this privilege.
14 days is the absolute minimum cooling-off period that a seller must give you. Make sure you check the terms and conditions in case they've given you more time to change your mind - many choose to do so.
Dealers are NOT required by Tennessee or federal law to give used car buyers a right to cancel their contract. According to the Federal Trade Commission, "...the right to return the car in a few days for a refund exists only if the dealer chooses to offer this privilege.
A cooling-off period lets you to cancel orders and contracts if you change your mind, usually within 14 days. But there are exemptions to watch for. We give you the lowdown. What is a cooling-off period?
A consumer who has purchased your goods via an online platform has the right to cancel the contract and claim a refund without giving any reason or justification and without incurring any liability (unless exceptions apply) within 14 calendar days of receiving the goods.
The fact is Tennessee has no right of rescission law except in the case of door-to-door sales (which you shouldn't deal with anyway, unless it's Girl Scout Cookies!), health club contracts (three days) and mortgage refinances (three days).
Three Day "Cooling Off" Periods On Consumer Transactions You, as a consumer, do have the specific right to cancel certain transactions under Tennessee Law. Two of those situations are (1) "home solicitation", and (2) "prepaid entertainment sales".
Determine if the type of contract you signed falls into the protection of the federal "cooling off rules." The federal government has determined that certain types of transactions are particularly prone to prey on buyers and therefore requires the sellers to allow buyers three days to cancel the contract after it is
Tennessee law is clear that there is no cooling-off period for car purchases. This three-day cooling-off rule is a federal law that is meant to protect consumers from high-pressure sales that occur door-to-door. It does not apply to cars.