Canceling Contracts: Your Rights
Contrary to popular belief, there generally is NO three-day right to cancel contracts or purchases in Colorado. You can cancel a contract under the following conditions:
1. A 3-day "cooling off" period applies:
- on door-to-door sales of $25.00 or more. The door-to-door salesman must give you written notice of your right to cancel.
- for services or goods that could result in a mechanic's lien on your home. (air conditioning, storm windows, etc.)
- on home solicitation sales, if you will be making five or more payments, excluding the down payment.
You must cancel by midnight of the third business day after the contract is signed.
2. Health club contracts may be cancelled within three calendar days.
3. Buyer's Club memberships may be cancelled in writing by the close of business on the next business day.
4. In most instances, telephone solicitation sales can be cancelled within 3 business days after receipt of the goods or services.
5. Credit repair contracts must contain written notice of your right to cancel, which is within 5 working days from the date the contract is signed.
6. Time-share contracts may be cancelled within 5 calendar days after the sale.
7. If you purchase a hearing aid, you have 30 calendar-days after you receive it to request a refund.
Your notice of cancellation should always be in writing. You may want to send the notice by certified or registered mail.
Remember, you have no statutory right to cancel a completed sale of a car. When you drive the car off the lot, it's yours.
