Section 11709.2 Of Article 1. Issuance Of Licenses And Certificates To Manufacturers, Transporters, And Dealers From California Vehicle Code >> Division 5. >> Chapter 4. >> Article 1.
11709.2
. Every dealer shall conspicuously display a notice, not
less than eight inches high and 10 inches wide, in each sales office
and sales cubicle of a dealer's established place of business where
written terms of specific sale or lease transactions are discussed
with prospective purchasers or lessees, and in each room of a dealer'
s established place of business where sale and lease contracts are
regularly executed, which states the following:
"THERE IS NO COOLING-OFF PERIOD UNLESS YOU OBTAIN A CONTRACT
CANCELLATION OPTION
California law does not provide for a "cooling-off" or other
cancellation period for vehicle lease or purchase contracts.
Therefore, you cannot later cancel such a contract simply because you
change your mind, decide the vehicle costs too much, or wish you had
acquired a different vehicle. After you sign a motor vehicle
purchase or lease contract, it may only be canceled with the
agreement of the seller or lessor or for legal cause, such as fraud.
However, California law does require a seller to offer a 2-day
contract cancellation option on used vehicles with a purchase price
of less than $40,000, subject to certain statutory conditions. This
contract cancellation option requirement does not apply to the sale
of a recreational vehicle, a motorcycle, or an off-highway motor
vehicle subject to identification under California law. See the
vehicle contract cancellation option agreement for details."