My dad made an emotional decision on the weekend and purchased a new Kia! After some thought and discussion with family members he regrets it now. He put down a $1000 deposit and would pay the balance with a certified cheque. Just wondering what the laws are and if he could cancel? Is he going to loose the deposit? Any input would be greatly appreciated.

Thanks

 

Has he signed the paper work? It sounds like he did.
In that case, I think it would be hard for him to get out of the deal. In most states there are no "Buyers Remorse" laws.

 

here in cali, if you dont take delievry of the car (meaning drive of the lot)
you havent completed the deal..

thats why the salesman always have you TAKE the car now...

I am sure you can back out, just talk with the General Mgr...

Good luck

 

BobbyD, he should be okay. I believe the law everywhere in Canada gives a buyer 10 days and he should not have trouble with a full refund.

G/L

 

Your dad is out of luck in Ontario, if he has signed the paperwork. His best bet is to try and minimize his losses - see if he can talk his way out of the deal. It will more than likely cost him the deposit.

This is one reason why it's always wise to build in a contingency clause that gives you a way out - ie: "based on insurance"; " need to discuss with wife/family", etc.

Maybe the laws have changed, but I recall talking to someone on this subject about 5 years ago.

Regardless, good luck in your dad's attempt to get out of the deal.

 

Isn't there a 10 day grace period?

 

uh...i'm pretty sure canada has a grace period for cars. sounds like he hasn't even taken delivery of it yet. of course, if the dealer is nice, he could just let him off the hook.

based on this:
http://www.gov.on.ca/MGS/graphics/050454.pdf

 

^ good info Jason..

 

I have the whole book of laws and rules at home as I recently had to get my OMVIC licence. I can check it for you if you'd like?

 

my understanding of this quote is that you have 10 days to cancel a contract (such as the full purchase of a vehicle). but it nowhere mentions the fact that you will get back your deposit. i think it's strictly up to the dealership. if they're nice... they'll give back the deposit... if not, u may be unfortunately, SOL.

edit: found this on their website as well...

 

A friend of mine bought a truck here in Alberta several years ago and then tried to back out of the deal because he found a better deal elsewhere. The dealer would not refund his deposit.

 

I'm sure Deane is right, tho I'm not sure of the so called 'Grace period' allowed purchasers to rethink their purchase.

What may be in jeopardy is your Dad's deposit.

If it were me, I'd go back in and discuss the change of heart on the purchase and ask if they will refund you deposit.
I think they would be mean to say no, but be prepared to pay a little money for their effort and trouble -- maybe $100.....or something like that for "paperwork" and time......

They should be concerned with your business even tho this deal won't go thru as planned, future business with your Dad, and family, will depend on how this cancellation is handled by them.......

Good luck with the remedy....I suspect that they won't haggle about not consomating this deal, and that they will show good will by refunding your Dad's deposit in the hopes of doing future business.

Colin.

 

my friend did it once,just go back to dealer tell them you cant come up with all the cash, and ask for a refund, if the dealer doesnt refund the money, there is a place to call, i dont remember the name but it's a government organization to help consumer with this kind problem.
when you call them they will contact the dealer and ask them to return part of your deposit. dealer will need to have a list to show what it cost them (like paper work ..etc) and return the rest of the money back to you