Rescind on a Car Purchase

[Tortorella's Rant]

Can you still do this if you haven't driven the vehicle off the lot? 

Say you sign the agreement on a car and pay cash but the funds haven't been transferred and the car remains on the lot for the next few days because reasons. Can you still void the purchase by throwing out the bill of purchase or having them revise the bill of purchase to which you don't sign because it's a new agreement? Or is it too late?

Looking at car A and car B and car B didn't come up until after I signed for car A.

[Chicken.]

2 minutes ago, Tortorella's Rant said:

Can you still do this if you haven't driven the vehicle off the lot? 

Say you sign the agreement on a car and pay cash but the funds haven't been transferred and the car remains on the lot for the next few days because reasons. Can you still void the purchase by throwing out the bill of purchase or having them revise the bill of purchase to which you don't sign because it's a new agreement? Or is it too late?

Looking at car A and car B and car B didn't come up until after I signed for car A.

If you haven't paid any $$ yet then I don’t see why not, the leverage is all yours

[Ghostsof1915]

Talk to the Dealer Manager first. 

 

Better Business Bureau, second.

 

 

[Baer.]

First thing I would do is read the purchase agreement you signed.

[Tortorella's Rant]

Nevermind; funds were transferred. Too late

[Toews]

18 minutes ago, Tortorella's Rant said:

Nevermind; funds were transferred. Too late

Is Car B with the same dealership? If so you can always try inquiring. You haven't driven the vehicle out of the lot and most businesses will try to accommodate you, knowing you are more inclined to return to them in the future if they have resolved your issue. 

Edited August 25, 2019 by Toews

[falcon45ca]

Just now, Tortorella's Rant said:

Can you still do this if you haven't driven the vehicle off the lot? 

Say you sign the agreement on a car and pay cash but the funds haven't been transferred and the car remains on the lot for the next few days because reasons. Can you still void the purchase by throwing out the bill of purchase or having them revise the bill of purchase to which you don't sign because it's a new agreement? Or is it too late?

Looking at car A and car B and car B didn't come up until after I signed for car A.

Technically signing a purchase agreement is a legally binding action. However, many dealerships will honour a refund if you choose to purchase a different car from their dealership. This may not be the case for certain used vehicles, a lot of dealerships have a strict no refund policy for NRV's (not road-worthy vehicles)

[Strombone]

Just tell them you changed your mind. A  full exchange hasn't been made. That vehicle is technically still in their possession. I've seen a person return a vehicle after already signing a contract. Just as long as you haven't driven it off the lot, you will get your full refund.

[Magikal]

Ok i'm going to chime in since this is my industry and there is a lot of false info being thrown around.

If the buyer has signed the documentation, you have pretty much zero options other than to take the vehicle or beg the dealership to unwind. They are in no position legally to unwind the deal unless they are found to have been malicious or false in their selling of the car.

If you act with some class and respect the selling dealership will more than likely allow you to unwind the deal if you are buying another car from them unless they really need that car off the books or they have a massive profit margin (which is unlikely in this day and age)

The rest of you saying the car is still theirs because it hasn't been driven are grossly misinformed and I encourage you to stop giving "advice" on subjects you know nothing about. 

Edit: Source: I run one of the largest dealerships in the province.

Edited August 25, 2019 by Magikal

[BrockBoester]

42 minutes ago, Magikal said:

Ok i'm going to chime in since this is my industry and there is a lot of false info being thrown around.

If the buyer has signed the documentation, you have pretty much zero options other than to take the vehicle or beg the dealership to unwind. They are in no position legally to unwind the deal unless they are found to have been malicious or false in their selling of the car.

If you act with some class and respect the selling dealership will more than likely allow you to unwind the deal if you are buying another car from them unless they really need that car off the books or they have a massive profit margin (which is unlikely in this day and age)

The rest of you saying the car is still theirs because it hasn't been driven are grossly misinformed and I encourage you to stop giving "advice" on subjects you know nothing about. 

Edit: Source: I run one of the largest dealerships in the province.

Well that's a wrap on this thread lol

[JM_]

46 minutes ago, Magikal said:

Ok i'm going to chime in since this is my industry and there is a lot of false info being thrown around.

If the buyer has signed the documentation, you have pretty much zero options other than to take the vehicle or beg the dealership to unwind. They are in no position legally to unwind the deal unless they are found to have been malicious or false in their selling of the car.

If you act with some class and respect the selling dealership will more than likely allow you to unwind the deal if you are buying another car from them unless they really need that car off the books or they have a massive profit margin (which is unlikely in this day and age)

The rest of you saying the car is still theirs because it hasn't been driven are grossly misinformed and I encourage you to stop giving "advice" on subjects you know nothing about. 

Edit: Source: I run one of the largest dealerships in the province.

what you're saying is out there for people to see: https://www.consumerprotectionbc.ca/consumer-help/trying-to-return-a-car/#I purchased my vehicle from a licensed dealer

 

thats why you should never be in a rush to buy a car. They'll always make more. 

 

 

Edited August 25, 2019 by Jimmy McGill

[JM_]

The temptation of purchasing a new vehicle can be overwhelming: that sweet new car scent (sans the blue pine tree hanging from your rearview mirror), that soft click of a keyless entry system and that pristine, crumb-free interior. But before you sign off on a new ride, we want to offer up some “did-you-knows” with regard to purchasing a new vehicle.

 

Did you know #1: once you sign, there’s no return guarantee.

Consumers often believe there’s a grace period after purchasing a car, allowing the buyer to return the vehicle if they’re not fully satisfied. Unfortunately, this is most often not the case and there is no law stating a consumer’s right to return a vehicle (although individual dealerships may have a return policy – be sure to ask). For more information, check out this blog post about vehicle returns from the Vehicle Sales Authority of British Columbia (VSA).

Did you know #2: elements of buying a car are regulated in BC.

The Vehicle Sales Authority (VSA) is an independent, non-profit regulatory agency that oversees the retail sales of personal-use motor vehicles in British Columbia. This provincial regulator has authority to administer and enforce the Motor Dealer Act, portions of the Business Practices and Consumer Protection Act and related regulations. The VSA also offers consumer assistance, dispute resolution and has a number of tips for consumers on their website.

Did you know #3: there’s a Canadian program designed to resolve disputes regarding manufacturing defects and warranty application/administration.

Called the Canadian Motor Vehicle Arbitration Plan (CAMVAP), this cross-Canada program is designed to resolve disputes (through binding arbitration) with a manufacturer about defects in your vehicle’s assembly or materials, or with regard to how the manufacturer is applying or administering its new vehicle warranty. CAMVAP covers most domestic and imported passenger cars, light trucks, sport utility vehicles, vans and multi-purpose passenger vehicles purchased or leased in Canada, as long as the vehicle is the current model or one of four previous model years.

Did you know #4: if you’ve suffered a financial loss due to a motor dealership going out of business or failing to meet legal obligations, you may be eligible for compensation.

There’s a fund, called the Motor Dealer Customer Compensation Fund, that provides compensation (to a maximum of $20,000) to consumers who’ve lost money because a motor dealer has either gone out of business or has failed to meet certain legal obligations. The Motor Dealer Act and Motor Dealer Customer Compensation Fund Regulation control how the fund operates, what losses are eligible for compensation and how compensation decisions are made. While the length of the claim process will vary based on the complexity of the claim, it typically takes between three to six months (in some cases, it can take longer.

 

https://www.consumerprotectionbc.ca/2012/07/pedal-to-the-metal/

[Magikal]

MVSA: NOT recognized in supreme court.

CAMVAP: Essentially useless and very rarely gets outcomes that anyone is satisfied with. Buyer or seller. 

Just an FYI 

Edited August 25, 2019 by Magikal

[JM_]

8 minutes ago, Magikal said:

MVSA: NOT recognized in supreme court.

CAMVAP: Essentially useless and very rarely gets outcomes that anyone is satisfied with. Buyer or seller. 

Just an FYI 

all the more reason to take your time and not get pressured at a dealership. 

 

Edited August 25, 2019 by Jimmy McGill

[Magikal]

5 minutes ago, Jimmy McGill said:

all the more reason to take your time and not get pressed at a dealership. 

Sure but that isn't what happened by the sounds of things. Sounds like the customer made a decision and now regrets it because another vehicle became available. This is entirely on the purchaser from my understanding of the situation. Perhaps there is more to the story though?

[JM_]

12 minutes ago, Magikal said:

Sure but that isn't what happened by the sounds of things. Sounds like the customer made a decision and now regrets it because another vehicle became available. This is entirely on the purchaser from my understanding of the situation. Perhaps there is more to the story though?

could be. I'm thinking more for young/1st time buyers that don't realize they can be a little patient. Its best for everyone if all parties go away happy. 

[Magikal]

2 minutes ago, Jimmy McGill said:

could be. I'm thinking more for young/1st time buyers that don't realize they can be a little patient. Its best for everyone if all parties go away happy. 

Truthfully though, just do research online prior to coming down. The internet has brought transparency to the industry. Make no mistake about it the biggest problem for a client buying a car is THEMSELVES. Clients lie 50 times for every time they find a sales person who lies once. Not that anyone should be lying, but clients are much worse than sales people when it comes to being dishonest. Then there are those who have commitment issues to the point where they never do commit to a purchase but are forever unhappy.

Research cars that meet your needs and budget. Go to a store once you have a general idea and it's simply down to test drives and final figures. Be honest with your sales person and you will almost always have a greater experience than if you have your back up, withhold information pertinent to your deal and lie about anything up to and including commitment to purchase. Clients who have poor experiences in today's world are almost always to blame and it's because of their poor attitudes and deceptive buying practices. 


ALSO: Do not ask for a "best price", especially over email. First of all you probably won't get a figure and if you do it most certainly isn't the best price. Go into the store like an adult, present a committed offer to the dealer and get your car. Your presence in the store and commitment are the best bullets in your chamber to get what you want. Otherwise no one takes you seriously and will not give you adequate service......and to be frank, if you try buy cars that way, you don't deserve a good experience.

[JM_]

4 minutes ago, Magikal said:

Truthfully though, just do research online prior to coming down. The internet has brought transparency to the industry. Make no mistake about it the biggest problem for a client buying a car is THEMSELVES. Clients lie 50 times for every time they find a sales person who lies once. Not that anyone should be lying, but clients are much worse than sales people when it comes to being dishonest. Then there are those who have commitment issues to the point where they never do commit to a purchase but are forever unhappy.

Research cars that meet your needs and budget. Go to a store once you have a general idea and it's simply down to test drives and final figures. Be honest with your sales person and you will almost always have a greater experience than if you have your back up, withhold information pertinent to your deal and lie about anything up to and including commitment to purchase. Clients who have poor experiences in today's world are almost always to blame and it's because of their poor attitudes and deceptive buying practices. 


ALSO: Do not ask for a "best price", especially over email. First of all you probably won't get a figure and if you do it most certainly isn't the best price. Go into the store like an adult, present a committed offer to the dealer and get your car. Your presence in the store and commitment are the best bullets in your chamber to get what you want. Otherwise no one takes you seriously and will not give you adequate service......and to be frank, if you try buy cars that way, you don't deserve a good experience.

For me over the years I've managed to get fair deals by picking up last years model vehicles that have been on the lot for a while. Turnover is pretty important obviously, so by paying cash and taking a few visits to work out a deal its been fine for me and the dealers were happy to move on price but i also wasn't  coming in with a stupid number and i was happy to wait too. 

 

I don't know what consumers would lie about that would matter to you guys?

 

Good on you for being very transparent here on this topic tho. I think you've given a good education for buyers. 

 

 

[Magikal]

21 minutes ago, Jimmy McGill said:

For me over the years I've managed to get fair deals by picking up last years model vehicles that have been on the lot for a while. Turnover is pretty important obviously, so by paying cash and taking a few visits to work out a deal its been fine for me and the dealers were happy to move on price but i also wasn't  coming in with a stupid number and i was happy to wait too. 

 

I don't know what consumers would lie about that would matter to you guys?

 

Good on you for being very transparent here on this topic tho. I think you've given a good education for buyers. 

 

 

FYI cash deals suck for us. We hate them. We want you to finance because the banks give us a kickback for the business. getting a lightly pre owned car, 1 year lease return or rental is hands down the best way to go.

People scared of rentals are hilarious. Most rental companies go through the car with a fine toothed comb and have your CC on file. If you damage their car you're gonna eat the cost. Also most people don't think of the car that gets rented. No one is driving mach speeds on dirt road in a damn Ford Focus.


Things clients lie about that make our job difficult:

-Willingness to do business
-The guy down the road is selling the exact same car for X less than you (Then go buy it you clown )
-No accidents/damage on my trade
-All decision makers are present
-We are already approved at X by X 
-We haven't shopped our credit around (Equifax has determined THAT was a lie and now your credit is bruised due to multiple submissions)

There are more but those are the big ones

Edited August 25, 2019 by Magikal

[HI5]

Ferarri may purchase it back from you if you wrap it and blacklist you.