If you`re looking to purchase a used car in New York City, it`s crucial to know your rights as a consumer. One of the most important rights you have is the option to cancel the contract within a certain timeframe after the purchase.
The New York State Used Car Lemon Law gives consumers the right to cancel a contract within two business days of purchasing a used car from a dealer, as long as the car is more than $1,500. This allows buyers to have some time to reconsider the purchase and potentially back out if they find any issues with the car.
In order to cancel the contract, the buyer must provide written notice to the dealer within the two-day timeframe. This can be done by mail, fax, email, or hand delivery. It`s recommended to keep a copy of the written notice as proof of the cancellation request.
The dealer is required to refund the full purchase price of the car within ten business days of receiving the cancellation notice. However, the dealer may deduct a usage fee based on the number of miles driven since the purchase. This fee is calculated at a rate of 10 cents per mile and cannot exceed 500 miles.
It`s important to note that this cancellation option only applies to purchases made from a dealer. Private sales are not covered by the New York State Used Car Lemon Law, and buyers do not have the same cancellation rights.
In addition to the cancellation option, buyers should also be aware of their other rights when purchasing a used car in New York City. These include the right to a written disclosure of any known defects or damage, the right to a warranty, and the right to have the car inspected by a mechanic prior to purchase.
By understanding your rights as a used car buyer in New York City, you can make informed decisions and ensure that you`re protected in case of any issues with the purchase. Always read the contract carefully and don`t hesitate to ask questions or seek legal advice if needed.