(October 24, 2012) SANTA MONICA, Calif. — Buying a new car is a big decision, and some people, for one reason or another, have regrets soon afterward. While the dealer usually holds all the cards if a purchaser attempts to return a new or used car, there may be ways to unwind the deal, reports Edmunds.com.

In some cases it might be good business practice for dealerships to provide customer satisfaction by simply agreeing to take the unwanted car back, but Edmunds reminds car buyers that dealers are generally under no legal obligation to do so.

“Your legal rights can be summed up in the one sentence that's posted on the wall of many dealership sales offices: ‘There is no cooling-off period,’” warns Edmunds.com Senior Consumer Advice Editor Philip Reed. “If you signed the sales contract, you own the car, and the law is on the side of the dealer.”

There are aggressive actions – such as lawsuits and filing grievances with consumer protection agencies – for buyers who feel wronged. But before taking those measures, there are ways to appeal to a dealer, and in some situations it makes sense for the dealer to accept the returned vehicle. Other times, there may be ways to fix the problems without fully unwinding the deal. Edmunds identifies a few common situations and suggests strategies for buyers to reach a satisfactory outcome:

1) “I Bought a Lemon!” It takes time, and repeated visits to the service bay, to legally establish that a car is a lemon. (That designation, which is applied to a vehicle that continues to have a defect or defects that substantially impair its use, value, or safety, legally entitles its owner to a refund or "comparable replacement vehicle.") In situations where there is a clear problem with a new or newly purchased used car, the dealer will probably fix it under warranty. If no warranty applies (or exists, as with many used cars), you can still lobby to have the car fixed. By doing so, the dealer can build good will and attract repeat customers.

2) “I Got Ripped Off!” If the salesman didn't keep his promises, or you suspect fraud, you might have a case. But don't make wild, unfounded accusations. Instead, use any documentation you can find. If you feel you paid way too much, reference Edmunds.com True Market Value (TMV) pricing as proof of an acceptable price. But consumers who cry foul on price are at least partially to blame. Preparation and research are essential for such a large purchase and it’s important to do your homework before striking a deal.

3) “I Have Buyer’s Remorse.” Your only recourse is to plead your case. You can say that you have discovered that you don't like the car or that it will stretch your budget and put you in dire financial straits. Make your case with the salesperson first as a courtesy, but be prepared to contact someone higher up the dealership food chain, such as the sales manager, general manager or owner. Ultimately, it's in the dealer's sole discretion to undo the purchase. Another option may be to work out a deal on a smaller or more affordable car.

Of course, the best way to avoid a tense dispute with the dealer is to take the appropriate steps throughout the shopping and buying process.

“You can avoid the ‘unwind bind’ altogether simply by being a prepared buyer who knows a car's pricing, reads the sales contract carefully and fully inspects a new or used car before taking ownership,” says Reed.

For more information on returning a recent car purchase, click here. 

In rare instances, an unscrupulous seller may demand that you return a new car purchase if it could not deliver the financing terms it promised. Edmunds.com identifies these “Yo-Yo Financing” scams and advises car buyers on their rights.