Consumer Protection Law
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Hello, my name is ***** ***** I will be helping you today. Was the Toyota Prius a new car or a used car?
The 3-day right to cancel purchases that you are referring to is only applicable under very specific circumstances, such as a telephone solicitation. You can also rescind an extension of credit; however, this only relates to the loan and not the actual purchase of the car.
The extension of credit agreement should have a "Notice of Cancellation" in it which states: "You may cancel this contract without any penalty or obligation within three days from the date the contract is signed. If you cancel, any payment made by you under this contract will be returned within fifteen days after receipt by the credit services organization of your cancellation notice. To cancel this contract, mail or deliver a signed and dated copy of this cancellation notice"
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