Five on Your Side: Cooling Off Rule
Posted November 22, 2010 4:03 p.m. EST
Can the “Cooling Off Rule” get you out of a not-so-hot buy?
5 on Your Side hears too often from viewers who complain that a business violated their “right to change their mind” about something they bought, by not allowing them to just return it.
The customers refer to what is frequently called the “cooling off law.” Under the law, you do have a three-day right to cancel, HOWEVER, the law applies only to purchases made at a location other than the seller’s usual place of business or permanent retail shop.
For example, the law applies when a salesperson comes into your home to sell you a product, such as windows, doors or vacuum cleaners.
It does NOT apply when you go to the business say to buy a car from a dealership or furniture from a retail store.
Some other exceptions according to North Carolina Attorney General Roy Cooper:
- Sales of less than $25
- Sales made entirely over the telephone or through the mail
- Sales or rentals of real estate
- Sales of insurance or securities
Click here to find out more about your Right to Cancel.