Car purchase cooling off period.

Hi all
Well I feel that I made a bad deal when I agreed to purchased a GM Optimum used vehicle.
I have made a small deposit but have not made payment or even picked the car up
yet. Is there any way I can back out of the deal.
I live in, and made the deal in Canada and had hoped that there might be some clause in Canadian law or General Motors terms that would allow me to simply back out of the deal. No one did anything underhanded it's just that I feel I paid way to much for what I would be getting.
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Call and tell them your wife's mother just died and your afraid your going to have a bunch of unexpected expenses and want to back out. You probably will lose the deposit but if you can get it elsewhere cheaper then you would still be saving money even after losing the deposit, right? That way if they won't let you out then you won't look like a flake.
Ted
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On Sun, 24 Jul 2005 01:42:11 -0400, Lowell Cummings

You have buyer's remorse. It happens. That being said, unless laws are much different in Canada, you signed a contract and probably could be held to the terms if the seller so chose. The selling party incurred some expenses in preparing the paperwork and they are entitled to payment for at least that, not to mention that they may have lost the opportunity to sell to another buyer. You may wind up settling for a partial refund of your deposit. Be flexible. Remember, you chose to accept the deal as offered originally. FWIW YMMV DFB
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Thank you (and Ted)
It is pretty much the way I thought it would be. I fool and his gold are soon parted.
Thanks again!!
MisterSkippy wrote:

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If you have not signed any papers, other than a credit application, and never took possession, no problem.. Just call and tell them you changed you mind and can't afford the car. They MUST return your deposit as long ad no vehicle transfer papers or contracts have been executed. If so they can charge you for the paperwork
mike hunt
Lowell Cummings wrote:

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You should have 10 days acc to Canadian contract law. Buyers right to cancel. This came into affect less than 2 yrs ago

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Lanze wrote:

Do you have a reference to look up and quote if necessary??
Thanks

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No but we write up home improvement contracts. We are told by Consumer and Commercial Affairs 555 yonge st Toronto that we must give the customer a 10 day right of refusal. I don't know how that would apply to a car purchase, however maybe check with the C&C affairs office.

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I signed an agreement to purchase, paid a small deposit and signed my change of registration. The only thing I have not done is made payment or take possession.
How do you think I stand??
Thanks
snipped-for-privacy@mailcity.com wrote:

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The purchase agreement is meaningless, it is not a contract. If you signed a contract then the cancellation time, in effect it your state, may have started. I is usually three business days, if so then you are screwed. If you only signed your title, that can be replaced for a fee as long as a transfer has NOT been executed. The important thing is you did not take position. Have your told the dealership that you do not want the vehicle? If not I would do so at once, and go from there.
mike hunt
Lowell Cummins wrote:

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snipped-for-privacy@mailcity.com wrote:

Yes, first thing Monday.

Thanks Mike
I think I am OK, spoke to my lawyer and he basically said that I would be out of pocket by having him look after the problem.
SURE HOPE HE'S NOT BLOWING SMOKE UP MY . . .
Thanks again Mike!

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