Generally, the two largest purchases in life will be your house and a car.
And with any big purchase, you should be allowed to change your mind if isn’t exactly as described. In Queensland, the cooling off period for cars may or may not apply if you buy a new or used, and can depend from whom you buy it.
The cooling-off period is a set amount of time where you can “sleep on” your purchase. In Queensland, you will only get this if you buy a used car from a licensed motor dealer.
In Queensland, there is no cooling-off period for new cars, so you must be absolutely certain about the car before you sign a new car contract.
Make sure any contract you sign is completely written, and that it shows in any trade-in amount paid as well as a delivery date. You can also write any requirements into your contract, such as a delivery date of a specified build date and coloured vehicle or a condition that the contract will only be enforced depending on if you can get finance from your credit provider.
A motor dealer must tell you the actual price of the vehicle, the transfer (stamp) duty, dealer delivery charges, any other levies or fees that need to be paid before you can take delivery of the vehicle.
Before you take delivery, check the vehicle plates for compliance and build dates and make sure that they match the advertised year of your car. These not only help you with determining a resale value, but you should be driving home in a car that was built in the year that was advertised to you. (Remember, the compliance date will not always be the same as the build date – mostly on imported cars.)
When you drive away in your car, that’s it – there’s no changing your mind. This is offset by your various warranties to protect you if the vehicle fails to operate as intended.
Not all used cars are entitled to a cooling-off period, though.
Cars bought from private sellers don’t receive one, so you have to do even more research and inspections on a car sold by a private seller. If it’s kosher, go ahead with the sale – but remember that you aren’t offered any statutory warranties either and private sellers are not subject to the same laws that motor dealers are.
Vehicles sold on consignment (through a dealer on behalf of its owner) do not receive a cooling-off period – however, a dealer must advertise and tell you whether a car is on consignment and will not come with a cooling-off period should you decide to purchase it.
If there is a buyer’s fee applicable to the sale (i.e. a percentage of the sale on top of the purchase price), the auctioneer must disclose to bidders that a buyer’s premium is applicable, as well as what percentage they are charging it at.
Our friendly sales and service teams are happy to answer any questions you have prior to your purchase, and we’ll guide you through as much of the sales process as you need us to, and our expert business managers will help you with any and all of your finance and insurance needs.
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