Under Arizona law, you have a right to cancel a car purchase contract within three days of signing the contract. This is called the "cooling-off period." This applies even if you have already taken possession of the vehicle.
To cancel the contract, you must:
- Deliver a written notice of cancellation to the dealer. The notice must be signed by you and must include the following information:
- Your name and address
- The date of the contract
- The make, model, and year of the vehicle
- The VIN of the vehicle
- A statement that you are canceling the contract
- You must also return the vehicle to the dealer in the same condition as it was when you picked it up. If you have damaged the vehicle, you may be liable for the cost of repairs.
- If you cancel the contract, the dealer must refund your down payment and any other money that you have paid. The dealer may also be liable for any damages that you have suffered as a result of the contract, such as lost wages or transportation costs.
*Note: The right to cancel a contract if the repairs on the vehicle were promised at the time of the sale; but did not occur within 30 days can extend the 3-days rescission period under the theory of mutual mistake.*
Here is a sample cancellation form that you can use:
```
[Your Name]
[Your Address]
[City, State, ZIP Code]
[Date]
[Name of Dealership]
[Address of Dealership]
[City, State, ZIP Code]
Re: Cancellation of Car Purchase Contract
I am writing to cancel the car purchase contract that I entered into with you on [date].
I have decided to cancel this contract because:
- I have found a different vehicle that I would like to purchase. (You may omit this reason but it is not required.)
- I have decided not to purchase a car at this time. (You may omit this reason but it is not required.)
I am returning the vehicle to you in the same condition as it was when I picked it up. I have not damaged the vehicle.
Please refund my down payment and any other money that I have paid.
Thank you for your cooperation in this matter.
Sincerely,
[Your Signature]
[Your Printed Name]
```
