Is there a 3 day right of rescission for auto purchases?

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Is there a 3 day right of rescission for auto purchases?

My daughter bought a truck in AK; she lives there and is in the military. I think she was ripped off is there any recourse?

Asked on July 18, 2011 under General Practice, Alaska

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

No, unfortunately, there is no three-day right of rescission for auto purchases in AK. (It actually applies to very few transactions; the main one is signing a mortgage for a home.)

If your daughter believes that she was ripped off because either (1) actual misrepresentations (lies) were made to her (such as misrepresenting the mileage; that the car had never been in an accident when it had been; etc.) or (2) that critical information was omitted which should have been disclosed and which a reasonable person would believe should be disclosed (e.g. that when the mileage says 11,000, that's 111,000, not really 11,000), then she might have a cause of action. If it's merely that she made a bad deal, then she would not have recourse.


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