Buying a car is a significant financial decision, and it’s not uncommon for buyers to experience second thoughts after driving off the lot. This feeling, often referred to as auto buyer’s remorse, can stem from various issues, from feeling overcharged to discovering hidden problems with the vehicle. Understanding the common causes of buyer’s remorse and knowing how to address them can save you from unnecessary stress and financial strain.
Feeling Ripped Off? Price and Finance Regrets
One of the most frequent sources of auto buyer’s remorse is the feeling of having paid too much. This can happen if you suspect the salesperson didn’t honor their promises or if you believe you were subjected to fraudulent practices. While it’s important to avoid making unsubstantiated claims, gathering documentation is key if you feel wronged. Comparing the price you paid to resources like the Edmunds Suggested Price can provide evidence of whether you overpaid compared to the vehicle’s market value.
Buyer’s remorse related to price also frequently arises from purchases made in the finance and insurance (F&I) room. Dealers often offer add-ons like extended warranties or cosmetic protection packages, which can significantly inflate the loan amount and your monthly payments. These additions, while sometimes beneficial, are often sold under pressure and may not be necessary for every buyer.
Advice: It’s unlikely you’ll secure a further discount on the car’s price or a better trade-in value after the sale is finalized. However, if you purchased those extra warranties or products, you can often cancel them and have the funds returned to you. This will reduce your loan principal, potentially improving your chances of refinancing at a better interest rate and saving you money in the long run.
Ultimately, avoiding price-related buyer’s remorse comes down to preparation. Thorough research is crucial before making such a large purchase. If you feel unsure or unprepared at any point during the deal, it’s always better to walk away than to regret your purchase later. Conducting online pricing research and negotiating with the dealership’s internet sales manager can often lead to a smoother, more transparent transaction.
Lemon Law Blues: Regretting a Defective Vehicle
Sometimes, buyer’s remorse isn’t about the price but the car itself. Discovering issues shortly after purchase can lead to the immediate conclusion that you’ve bought a “lemon” and the desire to exchange it or cancel the deal. However, legally establishing a car as a lemon under state lemon laws requires more than just a few problems. Typically, the vehicle must undergo multiple repair attempts for the same issue and be out of service for a substantial period. Lemon laws can also apply to used cars if they are still under the original manufacturer’s warranty. Familiarize yourself with your state’s specific lemon laws to determine if your situation qualifies.
Used cars present a different scenario as many are sold “as-is,” placing the responsibility on the buyer to assess the vehicle’s condition before purchase. Pre-purchase inspections are crucial for used cars to minimize the risk of unexpected problems and subsequent buyer’s remorse.
Advice: If you encounter a problem with a new car, your first step should be to allow the dealership the opportunity to fix it under the warranty. Even with used cars sold without a warranty, it’s worth requesting the dealer to address the issue. Dealers often prioritize customer satisfaction and repeat business, making them potentially willing to assist with repairs. For buyers seeking greater peace of mind and aiming to avoid lemon-related remorse, purchasing a certified pre-owned (CPO) vehicle can be a good option, as they typically include a limited warranty.
Can You Return It? Used Car Return Policies and Regrets
While returning a new car after purchase is generally challenging, used car buyers sometimes have more options, albeit with conditions. For instance, California offers a “cancellation option agreement” for used vehicles under $40,000 bought from dealerships. This allows buyers a short window, typically two days, to return the car, provided mileage restrictions and condition requirements are met.
Some online used car retailers like Carvana and CarMax also offer money-back guarantees, often within a 7 to 10-day period. However, these guarantees come with stipulations regarding mileage, return conditions, and potential restocking fees. Shipping charges may also be non-refundable if the vehicle was transported. Furthermore, refunds can take several weeks to process, and any negative equity from a trade-in will remain the buyer’s responsibility.
Advice: Carefully review the return policies if you are buying a used car, especially from online vendors. Understand the timeframes, mileage limits, and any associated costs. While return policies can offer a safety net against buyer’s remorse, they are not without limitations.
Fighting Back Against Buyer’s Remorse: What To Do After the Sale
When buyer’s remorse evolves into serious grievances and dealership complaints go unresolved, you have further avenues to pursue. While hiring a lawyer and suing the dealership is an option, it’s often costly and time-consuming. Exploring other options first is advisable.
You can file complaints with local and state consumer protection agencies. Your state’s Department of Motor Vehicles website may provide information on complaint procedures. Similarly, the state attorney general’s office is another resource for guidance on filing complaints against dealerships. The National Association of Attorneys General website can direct you to your state’s attorney general’s office and relevant information.
The Better Business Bureau (BBB) is another channel for registering complaints. Ideally, checking a dealership’s BBB rating and online reviews on platforms like Edmunds Dealer Ratings & Reviews, Google, or Yelp should be done before purchasing a car. However, even after a purchase, leveraging the BBB might encourage the dealership to resolve the dispute. Threatening negative online reviews or poor scores on manufacturer post-purchase surveys can also sometimes influence a dealership’s willingness to address your concerns.
Advice: If you’re facing unresolved buyer’s remorse, systematically pursue complaint channels. Start with the dealership management, then escalate to consumer agencies and consider leveraging online review platforms to voice your experience and seek resolution.
Preventing Auto Buyer’s Remorse: Tips for a Confident Purchase
While recourse options exist, the best way to deal with auto buyer’s remorse is to prevent it in the first place. Preparation and informed decision-making are key. Before finalizing the deal, request to review the sales contract thoroughly, ideally by having it emailed to you in advance. Even a photograph of the pricing page sent to you allows time for careful examination. Always request the “out-the-door” price to understand all costs involved. Utilize online tools like Edmunds’ car calculators to verify pricing and ensure all figures align.
Advice: Be a prepared and informed car buyer. Conduct thorough research on pricing, meticulously review the sales contract, and have the car thoroughly inspected before taking ownership. Mature communication and a calm approach to dealerships are also crucial. As Edmunds experts advise, dealerships value repeat business and are often willing to resolve misunderstandings when approached calmly and respectfully. Avoid impulsive decisions and prioritize thoroughness to minimize the chances of experiencing auto buyer’s remorse.
