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.

Answer provided by
Eric Schad
Answered on Jul 15, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
“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.”

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