Buyer’s Remorse: Changing Your Mind After Buying A Car

Posted by at 8 August 2017, at 09 : 00 AM

Buyer’s Remorse: Changing Your Mind After Buying A Car

Many people experience buyer’s remorse after buying a car and no wonder. Cars aren’t cheap, and whether you are a first-time buyer or a seasoned motorist, the expense is likely to cause anxiety in the best of us. Perhaps, you rushed into the purchase, swayed by the patter of the car salesman. Or maybe you see a similar car at a better price after walking away from the showroom. You’ve signed on the dotted line, but is it too late to change your mind after buying the car? Read on to find out more.

Buying second-hand

When buying from a second-hand car dealership, you are entitled to a cooling off period after signing the contract, but be aware that these rules don’t apply should you have bought your car from a private dealer or are buying something brand new. The cooling off period lasts for one day, but if you take delivery of the car before then, you are still liable for repair costs if the car was damaged while in your care.

Buying from a private seller

The most risky proposition on this list, as you have no legal rights when buying privately unless you can prove the car was faulty before purchase. Should you change your mind after buying, you can ask the seller for a refund. However, they are not legally entitled to do so. You are relying on their good grace, but be prepared for a knockback as they might refuse to give you your money back.

Buying a new car

You need to be happy with the car before purchase, as the contract is legally binding. The rules and regulations of this can be found here. You still have your consumer rights should the dealer sell you a faulty car, but otherwise, you are expected to abide by the contract. Should you change your mind before driving the car away from the lot, then, you can rely on the grace of the seller. They would need to take you to court to force you to hand over your money, but that would prove costly to them. In reality, some car dealerships will allow you to change your mind. However, they probably won’t give you your deposit back as they will have already incurred costs in processing paperwork, and getting the car taxed ready for the sale.

Buying at a distance

Freight services such as Jayde Transport make it easier for buying a car over a distance, but you are taking a risk. Not having the opportunity to test drive a car means you are relying on the word of the seller that the car is roadworthy. Therefore, you have more legal rights when buying over a distance, and there should be a returns and cancellation policy in place by the seller. Should you not be happy with the car after purchase, you have 14 days to change your mind, though you may still lose your deposit.

Bottom line

Quite simply, don’t sign on the dotted line unless you are sure about the purchase. You will save yourself a lot of money and stress in the process.

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