Are you in the market for a new car?

Well, before you sign on the dotted line, you need to do your homework.

If the car isn’t exactly what you want, you could have trouble canceling the deal.

Karen Stiles, of the TODAY’S TMJ4 Call For Action office has some tips for those looking to buy a new car.

TODAY’S TMJ4’s Call For Action office gets a lot of complaints on the issue of buyer’s remorse and what to do if you want to cancel the deal after buying a new car.

Quite often, when you purchase just about anything, you are able to exercise a three day right to cancel. However, this is not true when you buy a new car at the dealership. Once you sign on the dotted line and pay your deposit, you have agreed to buy the car. If you change your mind, the dealer is allowed to recoup up to 5 percent of the agreed upon price.

If you are in the market for a new car, you should take these steps to avoid having buyer’s remorse later:

Do your homework. Before you buy:

•Make sure to not only check the features and price of the car, but the cost to own and repair it. There are a number of sources such as consumer reports, Kelly Blue Book, and Edmunds.com for obtaining this information.

•Check out the reputation of the seller and their service department.

•Before you pay a deposit or sign a purchase agreement, ask for a copy of this agreement and read it over thoroughly, making sure that you understand all charges, warranties and financing terms. You may also want to take this home and have someone else look over it with you. Don’t be pressured to sign before being given a copy. Buying a car is one of the most major financial decisions that many of us will make. Make sure that you know what you are doing before you agree to buy.

If you run into a problem with a new car purchase, you can contact the Wisconsin Department of Transportation or you can call the TODAY’S TMJ4 Call For Action office for assistance.

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