Backing out of a signed offer to purchase?

[grantt]

I signed an offer to purchase for a new vehicle at the dealer. At the time the dealer did not sign the document or was it witnessed. I never saw the specific vehicle (it was to be transferred from another branch) but saw a similar one of a different color. I later decided I did not want to to go ahead with the purchase. The dealer told me that this was not issue, as he already had someone buying this vehicle, but that if I changed my mind he would be unable to honor the original price (which is fine as I was no longer interested in that vehicle). The vehicle was stock, and had no customizations.

Is there any basis to this?

Thank you.

 

[Slootvreter]

I've since received threatening emails from the dealer that say "Clauses 9 of 9.12 of the new consumer protection act clearly state that we can collect such loss of revenue from a client should he/she had signed an offer to purchase with all accompanied signed document for a said vehicle."

Is there any basis to this?

Thank you.

So he wants to claim 'losses' from you?

 

[AstroTurf]

Personally I think block their numbers and forget about it.

 

[grantt]

So he wants to claim 'losses' from you?

I think that is what he is hinting at...

 

[grantt]

Personally I think block their numbers and forget about it.

Doing this. Not responding to any communications.

 

[Slootvreter]

Slimy salesmen. Makes me think of that dumb broad who tried to sell my friend's house, then after two months she didn't and he sold it via another agent. This woman then tried to claim loss of commission from him. LOL.

 

[riscbroker]

Has the vehicle been transferred or not?

 

[MrGray]

Which dealer is this? Recently had something similar. Asked to sign a offer to purchase before any amounts were even filled in. However, AFAIK, offers to purchase aren't really all that binding, especially since they are contingent on factors like finance.

 

[grantt]

Has the vehicle been transferred or not?

No. I've just signed an OTP, and given them my ID and proof of address. Haven't seen vehicle or paid deposit.

 

[grantt]

Which dealer is this? Recently had something similar. Asked to sign a offer to purchase before any amounts were even filled in. However, AFAIK, offers to purchase aren't really all that binding, especially since they are contingent on factors like finance.

I told him I would pay cash. Rather not say dealer name (for now).

 

[grantt]

Slimy salesmen. Makes me think of that dumb broad who tried to sell my friend's house, then after two months she didn't and he sold it via another agent. This woman then tried to claim loss of commission from him. LOL.

This is exactly what I think is happening here!

 

[riscbroker]

No. I've just signed an OTP, and given them my ID and proof of address. Haven't seen vehicle or paid deposit.

If the car hasn't been transferred then the only expense that the dealer has incurred is a phone call or three. What amount does he think you're liable for?

 

[tRoN]

Fazda. Waiting for your response here.

 

[ToxicBunny]

an OTP is not necessarily binding...

 

[MrGray]

When the salesman says, "Just sign this document, here - doesn't mean anything, it's just to allow us to proceed and get a finance quote and determine the trade in value of your car, we'll fill in the details later", what they're really doing is making you sign an offer to purchase which they will then use to intimidate you. Never sign anything until you are absolutely sure you want to do the deal.

 

[grantt]

When the salesman says, "Just sign this document, here - doesn't mean anything, it's just to allow us to proceed and get a finance quote and determine the trade in value of your car, we'll fill in the details later", what they're really doing is making you sign an offer to purchase which they will then use to intimidate you. Never sign anything until you are absolutely sure you want to do the deal.

Lesson learnt!

 

[SinghDude]

Fsck em.



There is a cooling-off period.

Tell the salesmen to go suck on something hot.

 

[riscbroker]

Fsck em.



There is a cooling-off period.

Tell the salesmen to go suck on something hot.

There is indeed a cooling-off period. Subject, of course, to certain conditions.

 

[grantt]

There is indeed a cooling-off period. Subject, of course, to certain conditions.

I'm not sure if the cooling off thing is applicable. See:

"What of cooling off periods?
This is to protect the seller when the offer to purchase the car [by the buyer] was not concluded at the seller's premises or vehicle finance provider's or any other premises agreed up by the partie"

From http://www.usedcarsforsale.co.za/news/26/consumer-protection-act-and-buying-used-cars

 

[riscbroker]

I'm not sure if the cooling off thing is applicable. See:

"What of cooling off periods?
This is to protect the seller when the offer to purchase the car [by the buyer] was not concluded at the seller's premises or vehicle finance provider's or any other premises agreed up by the partie"

From http://www.usedcarsforsale.co.za/news/26/consumer-protection-act-and-buying-used-cars

It also applies to direct marketing ie if the dealer or salesman 'phoned you (includes 'cold-call') or sent SMS, email etc

If the dealer hasn't taken the vehicle onto floor plan then his expenses will be minimal.

Edit: Are you talking about a used or new car?