Released: November 06, 2007

Myth of the cooling-off period

Source: Phuong Cat Le, Seattle PI (Free Registration)

Contrary to popular belief, Washington law doesn’t allow a blanket three-day “cooling-off” period once you’ve signed a contract to buy a car or other major purchase. I often hear from readers who wrongly believe they have three days to change their minds and they’re disappointed to learn this isn’t true.

Q: So when can you get out of a contract?

A: State and federal laws give you the right to cancel contracts in very limited circumstances, including door-to-door sales, timeshares, business opportunities, credit-repair firms and health clubs.

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