48 hour Contract Cancellation Option Agreement

The 48 hour Contract Cancellation Option Agreement.

Whenever a vehicle is purchased in California by a dealer, the consumer must be offered a Contract Cancellation Option Agreement.  The CCOA gives the consumer the right to return the vehicle within 48 hours from the time & date of purchase. If the vehicle is driven more than 250 miles the contract cancellation option agreement gets terminated. The cancellation date and time is written on the contract.

If you purchase a vehicle for under $5,000 the fee to purchase the CCOA is $75, If it’s over $5,000 the fee is $150 to purchase the contract cancellation option agreement.The contract cancellation option agreement does not apply to the sale of a recreational vehicle, a motorcycle, or an off highway motor vehicle.