But before you head down to the dealership, it's important to understand their refund policy because that can help determine if you’ll get your money fully refunded. In some cases, dealerships have certain stipulations. For example:
- Some will gladly refund your purchase price if the car is returned within a certain amount of days, such as three or five.
- Others refund your money minus a restocking fee, which is usually a couple hundred dollars.
- While few might not offer any refund at all.
Here are the steps you should take to increase the likelihood of getting a refund:
- Act quickly. The sooner you contact the dealership about canceling the purchase, the better your chances are of getting a full refund.
- Be clear about your intentions. In your communication with the dealership, make it clear that you are canceling the purchase and that you want a full refund.
- Be prepared to negotiate. The dealership may not be willing to give you a full refund without some negotiation. Be prepared to discuss the situation with them and see if you can reach a compromise.
- Know your rights. As a consumer, you have certain rights when it comes to canceling a purchase. Make sure you are aware of these rights before you contact the dealership.
In order to get a refund on a car purchase you typically will need to bring:
- The vehicle
- The original purchase agreement
- The vehicle title (if applicable)
- All keys and accessories that came with the vehicle
- A valid government-issued ID
