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Jul 11, 2006 -- Calif. car law exposes risk to rest of country

What rights do you have when you buy a car? Many people make the wrong assumption that they have three days to return a car. It’s not true. In California, there is a new “Car Buyer’s Bill of Rights,” but it’s pretty watered down after the car dealerships got involved. So what does it allow you to do? You can buy a “grace period” when you purchase the car, if you decide you want to return the car for some reason. Another tenet is that a “certified” car has to meet certain criteria. People pay a lot more money for “certified” cars, even though they may not be in any better condition. Except in California, it’s still buyer beware around the country. Thirdly, if you finance a car at a dealership, the dealer marks up the loan a bit more. That’s standard procedure. But if you go to a credit union, you will get much lower rates than banks and especially at the dealership. If the California law does anything for people across the country, it is to remember “Buyer Beware.” In most states, once you sign the paperwork on a car, you own it. There is one exception and that is CarMax, which offers a right to return for a set number of days. If you take these steps and thoroughly price shop, you will avoid a lot of hassle and trouble.

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