There is no buyer’s remorse, cooling-off, or right-to-rescind law that requires the seller of a new or used car to cancel the sale or accept the return of the car. When you sign the contract for the purchase or lease of the car, you are legally obligated to the purchase or lease. Because of the finality of the lease or purchase agreement, it is important to carefully read and understand the agreement before you sign it—and to determine whether buying or leasing the car is a good financial decision for you. Some state laws require car dealers to offer extra protections for buyers of used cars—such as a contract cancellation option agreement that the buyer may purchase for an additional fee, and that will allow the buyer to return the car and cancel the contract within a short period of time (2 days).

In Rhode Island, there is no statutory right for a buyer to return a new or used car after purchase based on buyer's remorse or a cooling-off period. Once a contract for the purchase or lease of a car is signed, the buyer is legally bound to the terms of that agreement. Rhode Island law does not mandate a contract cancellation option that would allow a buyer to return the car within a certain timeframe after the sale. It is crucial for buyers to thoroughly review and understand the terms of the agreement before signing. While some states may offer additional protections or options for buyers of used cars, such as the ability to purchase a contract cancellation option, Rhode Island does not have such requirements. Buyers should ensure they are making a well-informed financial decision when committing to the purchase or lease of a vehicle.