Barnett Issues August Consumer Tip of the Month
(Pierre) – Motor vehicles are among the higher priced items that consumers purchase today. The Division of Consumer Protection receives many calls regarding the timeframe in which a buyer has to rescind the purchase contract.
Most consumers are aware of 3-day right to cancel provisions, also known as the cooling off period. This pertains to door-to-door sales of items such as magazines, meats, and vacuums, in which the seller is required to furnish the buyer a form indicating the specific date that he or she has the right to cancel the transaction.
There is no cooling off period, or a given amount of time a consumer has to cancel a contract on a motor vehicle, unless it is agreed upon by the seller and buyer at the time of the transaction. Some South Dakota auto dealers have set policies in place that clearly indicate the amount of time the buyer has to rescind the transaction, either on a replacement or refund basis.
So Mark Barnett’s Tip of the Month is: When you purchase a vehicle, be sure and ask the dealer if they have a set time period in which you may cancel the transaction. When this agreement is made, put it in writing, and have it signed by both the buyer and seller. By doing this you eliminate questions about returning the vehicle, and protect your rights as a consumer.
Consumers with complaints about goods or services, or questions and concerns about possible scams, are encouraged to contact the South Dakota Division of Consumer Protection at 1-800-300-1986.