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Can I cancel my car financing agreement in Connecticut?
Can I cancel a car loan? I signed a car financing deal, but I've read that I can cancel it through the Federal Trade Commission's three-day cooling off period. I live in Connecticut, if that makes a difference.
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“No, you can’t cancel the
new car
loan for the FTC’s three-day cooling off period or any other reason.This rule doesn’t apply to motor vehicles and you’ve already signed a legally binding document.
You may be able to contact the dealership or lender to see what they can do, but in reality, you’re probably stuck with the
loan
.”View full answer
- Gregory R.
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