Contract Cancellation Option Agreement California


2. If the withdrawal option contract has not been charged to the buyer, the merchant withdraws the buyer, no later than the day after the buyer exercises the right of withdrawal, any motor vehicle that the buyer has transferred to the seller in the form of a down payment or trade-in.  If the dealer has otherwise sold or transferred ownership of the motor vehicle that could remain in the form of a down payment or trade-in, the full refund described in paragraph 1 includes the fair value of the motor vehicle, which remains in the form of a down payment or exchange, or its value, as indicated in the contract or in the order. , higher. (a) 1. A dealer may not retail a used vehicle within the meaning of Section 665 and, subject to registration under this code, to an individual for personal, family or private use, without offering the purchaser a cancellation contract that allows the purchaser to return the vehicle for no reason.  This section does not apply to a used vehicle with a purchase price of forty thousand dollars ($40,000), a motorcycle within the meaning of Section 400, or a recreational vehicle, as defined in Section 18010 of the Health and Safety Code. 9. If the reintroduction tax limit in paragraph 5 is increased by the amount that the purchaser exercising a termination option would be required to pay the lessor, in the event of termination of the lease, royalties for excessive mileage, unrepaired damage or excessive wear in accordance with the lease, the merchant must pay the purchaser an opinion on the content of paragraph 5. , including a statement on the increase in replenishment costs. (g) This section does not impair a buyer`s ability to terminate the contract or revoke its acceptance under another law. The optional retraction contract allows the customer to change their mind about the purchase and return the vehicle to the dealership.

(e) Notwithstanding the subdivision (a), a dealer is not required to offer a contract to cancel the contract to a person who has exercised his right to cancel the purchase of a vehicle by the dealer under a retraction option contract for the 30 days immediately preceding.  A dealer is not required to notify a later purchaser of the return of a vehicle in accordance with this section.  This subdivision does not exclude or limit the disclosure requirement imposed by other statutes. With effect as of July 1, 2006, California law requires merchants to offer a 2-day contractual option for used vehicles with a purchase price of less than $40,000.00. Contrary to the view, the current legislation did not provide for an automatic 3-day right to the resignation of car buyers. This 3-day automatic fee applies to certain contracts, such as door-to-door home purchase contracts, mortgages, health studio and dance studio contracts, but not automobiles. The New Car Buyer Rights Act does not change existing legislation in this regard. The new law gives the consumer the opportunity to acquire the right of withdrawal of 2 days.