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Car Buyerâ€s Bill of Rights:
The state of California enforces a Car Buyer's Bill of Rights, a law applying to retail vehicle sales in California, excluding motorcycles and off-highway motor vehicles. Right to CancelIf you purchase a used car for less than $40,000 in California, the car dealer must offer you the opportunity to purchase a Contract Cancellation Option Agreement. The law dictates the maximum you can pay for the agreement, based on the amount you paid for the car. * If you paid $5,000 or less, you can be charged no more than $75. * If you paid between $5,001 and $10,000, you can be charged no more than $150.* If you paid between $10,001 and $30,000, you can be charged no more than $250.* If you paid between $30,001 and $40,000, you can be charged not more than one percent of the purchase price of the vehicle. Further, the dealership has the right to charge the following restocking fees should you choose to return the vehicle. * $175 for a vehicle costing $5,000 or less* $350 for a vehicle costing between $5,001 and $10,000* $500 for a vehicle costing between $10,001 and $40,000The time period allotted to return the car depends on the contract agreement provided by the dealership. This contract should include the time period allowed to return the car and the maximum number of miles allowed to be on the car upon return. The maximum number of miles cannot be less than 250. To return the vehicle, you must have all original receipts and the contract cancellation option agreement. The car must not have been driven more than what was stipulated in the contract and must be in the same condition as when received. If all qualifications are met, the car dealer must refund all of the sales tax, registration fees, any trade-in vehicles and all deposits made. Purchase Price DisclosureFor both new and used cars, the dealer must provide required disclosures of products involved in the purchase price.If you purchase a service contract, an insurance product, a debt cancellation agreement, a theft deterrent device, surface protection products or a Contract Cancellation Agreement, the dealer must disclose how these purchases effect your installment payments. The disclosure must provide the monthly installment payments with and without the purchased products. Nothing can be added to your contract without full disclosure and without your consent. Your Credit Score
Dealers are required to provide a "Notice to Vehicle Credit Applicant". This notice discloses which credit scores are used, what a credit score is and information obtaining free credit reports. FinancingIf an auto dealer obtains financing for you, they cannot be compensated by the financer for more than:* 2 percent of the purchase amount if the contract is for more than 60 months* 2.5 percent of the purchase amount if the contract is 60 months or less