Withdraw from Contract?

[Borgod]

Gday guys,

Is there any way to get out of buying a new car from ford once I have signed the contract?

The cooling off period has lapsed, and they won't accept my withdrawal from contract.

It's not a finance issue, so Im looking for different avenues to get out of this.

Thanks

[Heeno]

well have you recieved the car yet? if not then you should be able to get out of it

[b2tf]

May I ask as to why you dont want the car now?

[blackers10]

they can make you pay 15% of the loan becasue of withdraw of contract..
so as far as i know.. u now own a nice shiney ford..
its a pain init..

[MITCHAY]

I think you will find as with most contracts they will take some money if you withdraw. Why not get it and then sell it? Depending on what which would be more paying a termination fee or the depreciation you need to weigh up it up and decide.

[madmatty]

If They Gave You A Delivery Date And It Is Late They Have Breached The Contract And You Should Be Able To Get Out Of It.

[MITCHAY]

And if it aint late- make it late :Up_to_som :dr_Evil: Seriously though that does sound like a promising idea. Im not sure whether that would technically breach it but sounds like a way out might be worth exploring that avenue.

[LTDHO]

Once you sign the doc you legally have to pay for that car, there is NO cooling off period for New cars. Regardless of any delays.
You have to pay for it then sell it yourself and if you have finance then you need their permission first.

Why would you sign something if you are not sure?

[davocol]

It depends on which state you are in, I believe there is no cooling off period in vic however in nsw I think you may have a day but it depends on how you were going to pay for the car, whether it be with finance through the dealer. Either way from the sounds of it you will have to take the car unless you can offer the dealer a fee to keep it.

[Citric GT]

From a previous experience, I found out that they may ask for UP TO 5% OF THE VALUE OF THE NEW VEHICLE if you break the contract.

You can try and talk them down, but they are entitled to charge 5%.

Cheers
Matt

[gtfpv]

short answer is no . but if you get legal advice there might be .

[b2tf]

Originally Posted by LTDHO

Once you sign the doc you legally have to pay for that car, there is NO cooling off period for New cars. Regardless of any delays.
You have to pay for it then sell it yourself and if you have finance then you need their permission first.

Why would you sign something if you are not sure?

Incorrect, I know at the very least my dealer offers a clause in the new car contract which states that if they are ordering the car and it takes more than 1 month to supply, you can opt out of it, and that you do have 5 working days to change your mind. However, as has been said, if that happens, they can charge you a percentage to cover costs etc.

[Kryton]

just buy it, drive it home and sell it.
make sure you get more money back from the sale than the dealer would have taken from backing out of the contract.
or if you can be bothered you can apply for a raffle license and raffle the car off so long as you dont make any more money than you payed for the car.

[TURBOTAXI]

Is there any option to demand options that the manufacturer cannot supply/fit.? Or is it too much of a done deal?
What about offering an amount of money to back out?

[SpoolMan]

This happened to one of Hamo's mates with a Hyundai dealer..lol..
He wrote a letter to the managing director of the company saying he cant afford to repay the loan he will have to go bankrupt just spin what ever you can to get out of it... in the end they let him walk away from it and gave him his $1000 deposit back...
thank god he was buying a Getz..

[Borgod_F6]

Thanks for the replies.
I know this is a different account, I havent been able to login to my primary account all day to respond.

OK there is more to this story than simply a case of not wanting my car.
Basically I am salary packaging it, and my employer OK'd the arrangement and even provided a letter saying it was ok. We signed a Deed of Novation etc etc so there is no question they ok'd me organising a vehicle for Novated Leasing.

So I organised the car, ordered it, paid the deposit etc.
Now the Lease company wants clarification from my employer on the conditions of the salary packaging. This is when it starts to go wrong. Now my employe investigates further the tax implications of my arrangement and decide to put extra 'conditions' on packaging this particular vehicle ie. log books, odometer checks etc

Not happy with this at all, and wanted to pull out of the thing all together.

But it seems I cant. I spoke to Legal Aid thismorning and I have to take ownership of the vehicle otherwise the dealer can 'charge' me 15% of the value of the vehicle to recover costs. The cooling off period is only for 1 day.

Tomorrow I will be waltzing back into the HR dept of my work and 'discussing' these new 'conditions' they are imposing on me so to get the salary packaging arrangement back on track.

I could buy the car outright and immediately sell it, but the loss I would make from this would be in the thousands, so not worth it.

[Yaw]

Originally Posted by Borgod_F6

Thanks for the replies.
I know this is a different account, I havent been able to login to my primary account all day to respond.

OK there is more to this story than simply a case of not wanting my car.
Basically I am salary packaging it, and my employer OK'd the arrangement and even provided a letter saying it was ok. We signed a Deed of Novation etc etc so there is no question they ok'd me organising a vehicle for Novated Leasing.

So I organised the car, ordered it, paid the deposit etc.
Now the Lease company wants clarification from my employer on the conditions of the salary packaging. This is when it starts to go wrong. Now my employe investigates further the tax implications of my arrangement and decide to put extra 'conditions' on packaging this particular vehicle ie. log books, odometer checks etc

Not happy with this at all, and wanted to pull out of the thing all together.

But it seems I cant. I spoke to Legal Aid thismorning and I have to take ownership of the vehicle otherwise the dealer can 'charge' me 15% of the value of the vehicle to recover costs. The cooling off period is only for 1 day.

Tomorrow I will be waltzing back into the HR dept of my work and 'discussing' these new 'conditions' they are imposing on me so to get the salary packaging arrangement back on track.

I could buy the car outright and immediately sell it, but the loss I would make from this would be in the thousands, so not worth it.

Seems to me its your employer that has changed the conditions of the contract without your consent. They need to provide the salary package as it was in the letter when they OK'd it. If not THEY are in breach of your employment conditions. Please tell us you either have an award or enterpirse agreement so you can show your HR dept. Helpful hint, have a witness (a colleuge) attend the meeting with HR.
Good Luck

[wulos]

This is perhaps one of THE most common mistakes people make when buying a car.
The dealer is entitled to charge a get out fee ONLY if they can prove you pulling out of the deal has cost them money, & they have to be able to prove this in a quantifiable manner(a somewhat hard thing to prove)& this is limited to the maximum $% value lost as written into the contract(typically 5-15%)
This 'contract cancelation fee' is only legal in the contract to cover dealers from people that order a 'unique' vehicle then pull out, or order alterations to a vehicle that are not standard fitment(making it unique & more difficult to sell) then pullout (things like fit car alarm, tint windows, lpg conversion, disabled driver controls etc etc) This is a quite fair part of a contract in the event of buyer pulling out of the sale
In order for the dealer to prove that your pulling out of the deal has cost them money they still need to have the vehicle in question at the time of the court hearing, in which time the vehicle is depreciating in value anyway.
Did the dealer make 100% sure that you were aware of any of these 'penalty clauses' prior to you signing the agreement? Was the agreement signed in an enclosed office where you may have felt pressured or 'under duress' to sign whilst still on an intoxicating emotional high from having been sold on just how great this new car may be?
A LOT of unscrupulous dealers resort to this sort of bullying tactics to bluff people out of their money that do NOT know their rights. Tis easy money for dealers & one of the tricks they use to be able to pass on a cheaper price to the next sucker that walks in to buy a car.
A typical case of people forgetting(or NOT BOTHERING) to read the fine print & it possibly costing them a STACK of money. If people are silly enough to not read all the finer details, or fail to take steps to protect themselves from this sort of thing, more fool them.