Finance on a car

[Cel]

Hi guys

i just financed a brand new car about a week ago. I am not happy with the vehicle. i called the bank they said i can terminate the contract with penalty to them at this stage what are my options

 

[Sumen]

Hi guys

i just financed a brand new car about a week ago. I am not happy with the vehicle. i called the bank they said i can terminate the contract with penalty to them at this stage what are my options

Is it change of heart or is something wrong with the vehicle ?

 

[Hamster]

Is it a Honda Jazz bought at Honda Rivonia? Because then I fully understand

 

[Cel]

hh

Is it change of heart or is something wrong with the vehicle ?

its a change of heart i made an impulsive decision

 

[FiestaST]

Wot car?

 

[Cel]

Renault kwid

 

[bromster]

Pay the penalty. Be done with it.

 

[Cel]

Pay the penalty. Be done with it.

Yeah but i want to know is will dealer allow me to return the car

 

[Sumen]

Yeah but i want to know is will dealer allow me to return the car

The Bank owns the car

 

[Cel]

Anyone with knowledge how this works and if i still have time

 

[Sensorei]

If there is a fault with the car -> CPA states you have the right to demand repair, refund or replacement of the car. If you are having buyers remorse - your problem, sorry for you.

 

[Cel]

So basically i am out of options

 

[Sumen]

Anyone with knowledge how this works and if i still have time

You get 7 days from purchase to cancel the deal. after that nothing much can be done.

 

[Hamster]

If you are having buyers remorse - your problem, sorry for you.

There's usually a seven day clause, no?

 

[Sensorei]

There's usually a seven day clause, no?

No. Unfortunately not in South Africa.

 

[Cel]

No there isnt. I spoke to the dealer. They said they can assess the vehicle and maybe charge me a penalty and take the car. But there is no guarantee. I have only driven the car once its virtually brand new

 

[Hamster]

No. Unfortunately not in South Africa.

Pretty sure I had a "cooling off period" clause in both my previous purchases.

 

[Sensorei]

No there isnt. I spoke to the dealer. They said they can assess the vehicle and maybe charge me a penalty and take the car. But there is no guarantee. I have only driven the car once its virtually brand new

It will still cost you. Unless the car has a defect, the dealer can decide the terms of return and how much they are willing to refund you. They are pros at this. So they will act sympathetic, as if they are going out of their way to help you while they try to low ball you.

 

[Cel]

The cooling of period only applies if documents were not signed on premises

 

[Hamster]

“The CPA says if you buy the car on impulse, you can return it, no strings attached. This cooling-off period does have clear-cut parameters: it lasts for five business days and can only be invoked if the buyer has bought a car as a result of direct marketing concerning that same product from a supplier. For example, you need to have received an email, SMS or other direct marketing material from the supplier to buy into that specific deal before you are eligible for the cooling-off period.

“Consumers can also return goods to the supplier for a full refund in circumstances when the goods are not of the quality perceived by the customer in the agreement. But consumers may still be liable for charges of using the vehicle during this period, such as adding to the mileage of the car or affecting its condition. Sellers may impose a reasonable charge for the consumption or depletion of goods or any costs required for the restoration of the goods if they have been used.”

https://www.autotrader.co.za/car-ne...4d2-c11cc59be957-when-and-how-to-reject-a-car