Buying a car should be an exciting experience, marking a new chapter in mobility and convenience. However, for many, the joy quickly fades, replaced by a nagging feeling of regret known as auto buyer’s remorse. This sinking feeling can stem from various sources, from feeling ripped off by the dealership to discovering hidden problems with your new ride. If you’re experiencing this common post-purchase anxiety, understanding its roots and knowing your options are the first steps to regaining control and peace of mind.
Auto buyer’s remorse can manifest in different ways. Perhaps you feel you overpaid, or maybe the car isn’t as perfect as you initially thought. The good news is, you’re not alone, and there are strategies to address these concerns. Let’s explore some common scenarios that lead to buyer’s remorse and what you can do about them.
Feeling Ripped Off: Did You Overpay?
One of the most frequent causes of auto buyer’s remorse is the feeling of having been financially exploited at the dealership. This often arises when buyers suspect they paid too much for the vehicle itself or were pressured into unnecessary add-ons in the finance and insurance (F&I) office.
If you believe the salesperson didn’t honor their promises or suspect fraudulent practices, gathering documentation is crucial. While unsubstantiated accusations are unhelpful, concrete evidence strengthens your position. Referencing resources like Edmunds Suggested Price can provide a benchmark for the vehicle’s market value and help determine if you indeed overpaid.
The F&I room is another area where buyer’s remorse commonly takes root. Under pressure, many buyers agree to extended warranties, wheel and tire protection, or other extras that significantly inflate the loan amount and monthly payments. These products, while sometimes beneficial, can add thousands to the total cost.
Advice: While negotiating a lower car price or a better trade-in value after signing the contract is unlikely, you have options regarding those F&I products. Extended warranties and similar add-ons can often be canceled, with the refunded amount reducing your loan principal. This can lower your monthly payments and potentially improve your chances of securing a better interest rate if you decide to refinance later, saving you money in the long run. Taking control of these cancellable products is a proactive step in mitigating buyer’s remorse related to overspending.
It’s important to remember that consumers also bear responsibility in avoiding price-related remorse. Thorough preparation and research are paramount for a significant purchase like a car. If you feel unsure or lack sufficient information while at the dealership, it’s wiser to postpone the deal. Walking away is preferable to post-purchase regret. Online pricing research and engaging with the dealership’s internet sales manager can streamline the process and lead to a more transparent and less stressful transaction.
“Lemon Law” Lament: Is Your Car a Defect?
Sometimes, buyer’s remorse stems not from the deal itself but from problems with the vehicle. New car owners might quickly label minor issues as evidence of a “lemon” and demand an immediate exchange or deal cancellation. However, legally defining a car as a lemon requires more than just a few initial problems.
Lemon laws exist to protect consumers from vehicles with persistent, unfixable defects. Typically, for a car to be considered a lemon under these laws, it must undergo multiple repair attempts for the same issue at the dealership’s service department and be out of service for a substantial period. If you’ve bought a used car that’s still under the original manufacturer’s warranty, lemon laws might still apply. Familiarize yourself with your state’s specific lemon laws to determine if this course of action is appropriate.
Used cars present a different scenario. Many are sold “as-is,” placing the responsibility on the buyer to inspect and assess the vehicle’s condition before purchase.
Advice: For new cars with clear issues, dealerships must be given the opportunity to rectify the problem under warranty. Even without a warranty, as is common with many used cars, you can still advocate for repairs. Dealerships are often motivated to make such repairs to foster customer goodwill and encourage repeat business. To minimize the risk of lemon-related buyer’s remorse, consider purchasing a certified pre-owned (CPO) vehicle. CPO cars are typically more expensive but often include a limited warranty, providing added assurance.
Returning a Used Car: Are There Options?
While returning a new car is generally complex unless it qualifies as a lemon, used car purchases sometimes offer more flexibility, albeit with conditions. For instance, California law allows dealerships to sell a “cancellation option agreement” for used vehicles under $40,000. This agreement grants buyers a short window, typically two days, to return the car, provided mileage limits are met, all original paperwork is returned, and the car remains in similar condition.
Online used car retailers like Carvana and CarMax also offer money-back guarantees, typically within 7 to 10 days. However, these guarantees come with stipulations regarding mileage, return conditions, and potential restocking fees. Shipping charges for vehicles transported from other locations might not be refundable, and refunds can take several weeks to process. Furthermore, if your previous car loan had negative equity rolled into the new loan, you’ll still be responsible for that amount even if you return the car.
Seeking Further Resolution
If dealership complaints are unfruitful and buyer’s remorse persists, further avenues for resolution exist. While hiring a lawyer and suing the dealership is an option, it’s often costly and time-consuming.
Filing complaints with local and state agencies is a less drastic step. Your state’s Department of Motor Vehicles website may provide information on complaint procedures. Similarly, the state attorney general’s office can offer guidance on filing complaints against dealerships. The National Association of Attorneys General website provides contact information for each state’s attorney general.
The Better Business Bureau (BBB) is another resource. Ideally, checking a dealership’s BBB rating and online reviews (like Edmunds Dealer Ratings & Reviews, Google, or Yelp) should be done before buying a car. However, even post-purchase, contacting the BBB might encourage the dealership to resolve the issue. Threatening negative online reviews or poor scores on manufacturer post-purchase surveys can also sometimes be effective.
Preventing Auto Buyer’s Remorse: Proactive Steps
While recourse options exist, preventing auto buyer’s remorse is always preferable. Familiarize yourself with the sales contract before taking delivery. Requesting an emailed copy of the contract, or even a photo of the pricing page, allows for careful review of all terms and prices. Always ask for the “out-the-door” price to understand the complete cost. Utilize online car loan calculators, like those available on Edmunds, to verify all figures and ensure accuracy.
Edmunds Says: Maturity and Preparation are Key
Many post-car purchase problems can be resolved with a mature and proactive approach. As stated by Ivan Drury, Edmunds director of insights, “Dealerships really are looking for repeat business and make great strides to create an environment that promotes long-term relationships with their customer base. The best way to resolve these misunderstandings is to simply return to the dealership and ask to speak to the manager in a calm tone. Drama and shouting does not impress. Asking for help does.”
Ultimately, avoiding auto buyer’s remorse comes down to being a well-prepared car buyer. Know the car’s market price, thoroughly read the sales contract, and meticulously inspect the vehicle before taking ownership. Taking these steps significantly reduces the likelihood of experiencing car buying regret and ensures a more positive and confident car ownership journey.
