Cooling off periods

[MillyMollyMandy]

Hi there!

My grandfather signed forms today for a trade in with Toyota. He still wants the car he is buying, but he doesn't want to trade in his car anymore -because i would like to buy it off him instead. Is their legally a cooling off period; or does he technically not own his old car anymore?

Because he's old i fear they will rip him off, and say it's a done deal. But surely within 48 hours you should be able to say 'i want to keep my car!'

I just want to know his rights so i can let him know!

X Thank you for any help you can give me. Much appreciated!

Edited September 3, 2009 by MillyMollyMandy

[David the Viking]

Just talk to the dealer as cash to them may be better than a car they then have to sell themselves or send to wholesale.

[httttt]

The ***** faces at Used Cars Lander Toyota had a contract that was optional for signing, this contract said I was waiving some kinda of cooling off period. I'm not sure if that is a cooling off period for the finance or the trade in.... What exactly did the snakes get your grandfather to sign?

Edited September 3, 2009 by Hidden Taco (HT)

[MillyMollyMandy]

Just talk to the dealer as cash to them may be better than a car they then have to sell themselves or send to wholesale.

Thats true! thanks heaps, made me feel a little more confidant about tomorrow. Cheers.

[cruzer]

hopefully the dealer can understand but then again he is a car salesmen good luck though

[MillyMollyMandy]

oh no! that sounds very similar. Probably exactly what you said in fact. I know they are getting a good deal out of him. Trade in for $2000. Its a very 'grandpa' car, a toyota cressida 1992. Yet its only done 150,000 km, in excellent brand new condition. Know for a fact it should be worth more!!. I really realllyy hope he can get out of it.

I figured the contract may have been for the car he was buying and not the trade in?

technically he must still own the car, right?

[MillyMollyMandy]

Dealers are dealers. >_<

Thanks for the encouragement though. Do you know whether when you sign for a trade in/buy another car that the car dealer then owns your car?

They can't possibly can they? x

[httttt]

Dealers are dealers. >_<

Thanks for the encouragement though. Do you know whether when you sign for a trade in/buy another car that the car dealer then owns your car?

They can't possibly can they? x

Best not to worry and call them tomorrow offering to pay the difference with cash (as in not loaned). In most cases they will want cash over the car. Good luck.

[lateralus]

The ***** faces at Used Cars Lander Toyota had a contract that was optional for signing, this contract said I was waiving some kinda of cooling off period. I'm not sure if that is a cooling off period for the finance or the trade in.... What exactly did the snakes get your grandfather to sign?

yep, if the forms for your loss of right to a cooling off period (which is usually 2-3 days i think) have been signed, under the motor traders act 1986 they dont have to if they dont want to. but as others have said, if the dealer is sympathetic they might do it anyway. but if they dont, theres not much you can do unfortunately.

[WildfireATX]

Money talks at the end of the day if your sincere with them they probably wont mind haveing the difference in cash. Worst case you can buy grandads car off the dealer at an inflated price!!! but that would be silly