Backing out of a signed offer to purchase?

[Slootvreter]

This guy would not get a cent from me.

 

[grantt]

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?

New car.

 

[MrGray]

Rather not say dealer name (for now).

Renault?

 

[Fazda]

Fazda. Waiting for your response here.

Sorry, only just seen this -

They don't have a leg to stand on, we have people walk away from OTP's on almost a weekly basis. They have no legal standing whatsoever.

There are plenty of T's and C's on the back of them, none of which is binding.

Tell the salesman to walk away from the deal and get on with selling the car to someone who wants it.

The only time that I consider a car to be sold, is when I see the tail lights disappear, and even then it could be returned at some point!!

A colleague of mine is famous for preparing cars on which an OTP has been signed, and then having the deal collapse around his ears.

Don't worry, and if he threatens you, then threaten him with a lawyer, whether you have one or not - he will back off very quickly as he knows that he cannot win the case.

 

[grantt]

Sorry, only just seen this -

They don't have a leg to stand on, we have people walk away from OTP's on almost a weekly basis. They have no legal standing whatsoever.

There are plenty of T's and C's on the back of them, none of which is binding.

Tell the salesman to walk away from the deal and get on with selling the car to someone who wants it.

The only time that I consider a car to be sold, is when I see the tail lights disappear, and even then it could be returned at some point!!

A colleague of mine is famous for preparing cars on which an OTP has been signed, and then having the deal collapse around his ears.

Don't worry, and if he threatens you, then threaten him with a lawyer, whether you have one or not - he will back off very quickly as he knows that he cannot win the case.

Great - thank you!

 

[Kuga]

You are allowed to cancel any signed agreement within 7 days. Whether it be cellular contracts, ADSL signups, whatever. The CPA makes provision for this.

 

[abandonallhope]

I just don't understand why one would sign a offer to purchase document before having seen the actual car at all...

 

[MrGray]

I just don't understand why one would sign a offer to purchase document before having seen the actual car at all...

Because some unscrupulous salesmen don't even tell you it's an OTP. They tell you it's something you have to sign if you want a test drive or they need it to workout a trade in value or something like that. Often the fact that it is an OTP is not clearly displayed on the form header.

 

[Fazda]

I just don't understand why one would sign a offer to purchase document before having seen the actual car at all...

It happens frequently with new car deals.

If a car is sitting 25 km's away in our stock yard, I haven't even seen the thing when an OTP is signed.

In other words, it's very common with a new car - the only time that you should have seen the car is when buying a Used car.

 

[abandonallhope]

It happens frequently with new car deals.

If a car is sitting 25 km's away in our stock yard, I haven't even seen the thing when an OTP is signed.

In other words, it's very common with a new car - the only time that you should have seen the car is when buying a Used car.

Oh yes, with a new car it should be fine.

 

[Fazda]

Because some unscrupulous salesmen don't even tell you it's an OTP. They tell you it's something you have to sign if you want a test drive or they need it to workout a trade in value or something like that. Often the fact that it is an OTP is not clearly displayed on the form header.

Sorry, but that is bollocks - do you even know what an OTP looks like??

Anyone who signs something without reading it is just plain stupid.

If you have a blank OTP in front of you and you sign it, then you are worthy of a Darwin award - An OTP should have at very minimum, the following information:

Your name, Your ID, your contact details ( phone and email), Full details of the car you are buying, including model, colour, trim, extras and cost, Postal and Street address.

If you sign any piece of paper shoved under your nose without checking that it's correct, then you are crazy.

 

[MrGray]

Sorry, but that is bollocks - do you even know what an OTP looks like??

Anyone who signs something without reading it is just plain stupid.

If you have a blank OTP in front of you and you sign it, then you are worthy of a Darwin award - An OTP should have at very minimum, the following information:

Your name, Your ID, your contact details ( phone and email), Full details of the car you are buying, including model, colour, trim, extras and cost, Postal and Street address.

If you sign any piece of paper shoved under your nose without checking that it's correct, then you are crazy.

It's not bollocks, it happens. And people are far too trusting in the charming hands of some of these sharks.

 

[Fazda]

It's not bollocks, it happens. And people are far too trusting in the charming hands of some of these sharks.

You obviously didn't read after Bollocks

 

[MrGray]

You obviously didn't read after Bollocks

Are you being defensive because it is your industry? I'm sure you're very ethical, but there are a lot that are not. It doesn't give you licence to insult their victims, though.

 

[ToxicBunny]

Are you being defensive because it is your industry? I'm sure you're very ethical, but there are a lot that are not. It doesn't give you licence to insult their victims, though.

Yes it does...

Anyone who signs something without reading it is an idiot, plain and simple.

 

[Fazda]

Yes it does...

Anyone who signs something without reading it is an idiot, plain and simple.

Thanks - I couldn't have put it better.

I am most certainly not being defensive because I am in the industry - what I said was meant to be advice to ANYONE considering buying a car and signing any documentation - if you sign "blind" you are a bloody Cretin!

 

[MrGray]

Yes it does...

Anyone who signs something without reading it is an idiot, plain and simple.

Or they've been conned into doing it. And not everybody is a hard-nosed legal savvy business person. If someone lies to you about the purpose of a document and you scan it briefly and sign it, all the while being distracted by questions (because who really reads the small print on a document they've been told is just a formality and not important) does that make you an idiot?

Anyway, your premise is invalid, we sign things all the time without reading T&C's etc - do you always read everything on a POD? Do you read the small print on the security register when you enter a building? Do you read the licence you accept when you install software? Did you read every single clause in your airtime contract? Did you read the full T&C's when you collected your last credit card, when you opened a new bank account, submitted your tax return, rented a car, checked in at a hotel, etc etc etc? Anyone who says they read everything they sign is lying.

 

[MrGray]

Thanks - I couldn't have put it better.

I am most certainly not being defensive because I am in the industry - what I said was meant to be advice to ANYONE considering buying a car and signing any documentation - if you sign "blind" you are a bloody Cretin!

And the salesmen who do this are as pure as the driven snow - it's these stupid damn people who don't buy and sell cars everyday that fall into his lap and sign documents without him even having to ask? Right?

 

[ToxicBunny]

Yes it makes you an idiot.

I read everything that is put in front of me to sign, I couldn't give two tosses how it irritates people around me.

Things like EULA's and T&C's that require me to click will get a cursory glance, but something that requires me to physically SIGN it, gets read.

 

[Slootvreter]

Thanks - I couldn't have put it better.

I am most certainly not being defensive because I am in the industry - what I said was meant to be advice to ANYONE considering buying a car and signing any documentation - if you sign "blind" you are a bloody Cretin!

Correct, never ever trust a car salesman and just sign. Read it through first.