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  1. #1
    dummy1 is offline Junior Member
    Join Date
    Jun 2005
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    Unhappy Does this car purchase qualify for nc's "cooling off" period law?

    What is the name of your state? North Carolina

    I received a car dealer's brochure in the mail addressed to me saying that I was one of only 400+ people in Charlotte who were invited to this special car sale due to my excellent credit(please don't laugh at me).

    I ended up giving a trade in and down payment totaling $7000.00. Ford Credit financed the $ 16,333 balance for me. The salesman told me that N.C. did not provide a "cooling off" period for that purchase and all sales were final.

    Several days later I found out that I'd paid $ 23,360 ( $ 7000. + $16, 333) for a vehicle that kelly blue book states the trade in value was only $13,200, the private party sale value ws $ 15,300, and the dealer's suggestd retail price was $ 17,485.

    Theoretically, I paid anywhere from $ 6000. - $ 10,160 in excess of the vehicle's value.

    Since I did receive a personal solicitation (sales brochure) at my home through the mail inviting me to their dealership for this"special" sale, can this possibly qualify for NC's "cooling off" period.

    Can I return the vehicle and get my down payment back?
  2. #2
    I AM ALWAYS LIABLE is offline Senior Member
    Join Date
    Jan 2000
    Location
    Los Angeles, California
    Posts
    38,165
    Quote Originally Posted by dummy1
    What is the name of your state? North Carolina

    I received a car dealer's brochure in the mail addressed to me saying that I was one of only 400+ people in Charlotte who were invited to this special car sale due to my excellent credit(please don't laugh at me).

    I ended up giving a trade in and down payment totaling $7000.00. Ford Credit financed the $ 16,333 balance for me. The salesman told me that N.C. did not provide a "cooling off" period for that purchase and all sales were final.

    Several days later I found out that I'd paid $ 23,360 ( $ 7000. + $16, 333) for a vehicle that kelly blue book states the trade in value was only $13,200, the private party sale value ws $ 15,300, and the dealer's suggestd retail price was $ 17,485.

    Theoretically, I paid anywhere from $ 6000. - $ 10,160 in excess of the vehicle's value.

    Since I did receive a personal solicitation (sales brochure) at my home through the mail inviting me to their dealership for this"special" sale, can this possibly qualify for NC's "cooling off" period.

    Can I return the vehicle and get my down payment back?

    My response:

    No. The contract was consummated at the dealership; not your home. Well, P.T. Barnum was correct.

    IAAL

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