When buying a used car, whether you work with a car broker, a dealer, go to an auction, or go directly to a seller, it is easy to become over-excited. So, you should always organise a vehicle inspection. It is also more important than ever to understand the cooling off period when purchasing a used car. It doesn’t apply to every sale, but when it does it’s a great way to protect yourself.
To put things simply, if you buy a motor from a dealer without seeing it in person, you have a 14 day cooling off period. During this time, you can tell them you wish to return it. If you made the purchase after seeing the vehicle, this doesn’t apply. It will be likely that, unless there is some fault, you will be stuck with the car.
The cooling off period came into effect during 2015 after the introduction of the Consumer Rights Act. It protects consumers when they shop and adds protection from potential complications. The rights regarding cars means that if you purchase a motor without first being able to see it, you should be able to cancel the purchase or return it without a problem. If you’ve not seen the car, it’s difficult to get a decent understanding of it. This only applies to cases where you buy over the phone or online though.
How things work
If you opt to use your cooling off period, you have 14 days from the date of getting the car to let the seller know. This is the date of delivery. Included here is if someone is nominated on your behalf to receive it. After letting them know, you have an additional 28 days to return the car to the dealer. This could be at their expense or yours. You will be able to get your money back, including the deposit if this was a distanced sale. Get in touch with us if you want to learn about being a car broker.
Times when there is no cooling off period
You need to remember that this period only applies to sales at a distance with cars. If you bought one from a dealership and you were there, even if you didn’t see the motor, you will have likely lost the right.
Something even more interesting is that if the sale is practically from a distance, but you finish in person, you lose the rights. Many dealers will take a holding fee or deposit from you. With the actual payment of the vehicle, they will likely ask you to come to the dealership to sign paperwork and such. Or, you will be there to see the motor. They are making sure the cooling off period won’t apply. Moreover, you are not going to get back the deposit you paid online.
Is there a problem?
If there is a problem with the car, the cooling off period doesn’t come into play. Instead, you will have the right to return the car as it is not satisfactory. It has either not been sold as described or you have damaged goods. In both scenarios, the dealer hasn’t held up their end of the contract.
However, things will be different if the seller informs you of problems beforehand. In this situation you are buying with awareness of the issues, so you lose the rights.
Whatever the case, it is better not to get into this situation. It can be expensive to escape or you could end up with no option but to keep the car.
Start your car broker journey today
At Auto Car Brokers, we give everyone the opportunity to learn from our experience. Everything we know is within the learning modules. You can buy them individually or all at once. As a result, you have the freedom to decide what you need or can get everything in a package. If you do the latter, you can save money too.
So, let us know if we can be of any help. We know how fantastic a car broker business can be, particularly in the UK where the market is massive. Find out more on our website and then get the perfect tools to establish your business.
