Seems you get screwed in NSW
NSW Cooling off Period.
There is a ?cooling-off period? that applies if you purchase a car from a dealership and the dealership:
- arranges your loan for the car, or
- supplies application forms for, or a referral to, a credit provider. This is called a linked credit arrangement.
Under these circumstances only, there is a ?cooling-off period? giving you 1 day to change your mind. The cooling-off period begins when the contract is entered into and generally closes at 5pm on the next day that the dealer is open for business.
Note that the cooling-off period does not apply to motor cycle purchases.
During the cooling-off period the purchaser can cancel the contract by signed, written notice given to the dealer. The purchaser will be liable to pay the dealer $250, or 2% of the purchase price, whichever is the lesser amount.
Cooling off period Consumer affairs Victoria New & used cars
New car cooling-off period
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What does cooling off mean?
Cooling-off periods apply to cars and motorbikes bought from licensed motor car traders.
You have three business days (excluding weekends and public holidays) after you sign a contract to change your mind. This is your cooling-off period. However, if you choose to accept delivery of the vehicle during this three-day period, you will automatically lose your right to cool off.
Licensed motor car traders are required to include a prescribed information box in the contract of sale for each vehicle they sell, that sets out information about the cooling-off process.
A licensed motor car trader is not obliged to order a vehicle from the manufacturer before the cooling-off period expires. You should therefore clarify with the licensed motor car trader when you can expect to receive it.
Changing your mind
If you change your mind and terminate the sale agreement, you must do so in writing within the cooling-off period, and the licensed motor car trader may keep $400 or two per cent of the purchase price (whichever is greater).
If you change your mind about a sale that takes place off-site, for example, if the licensed motor car trader brings the vehicle to your home or place of work, the seller may keep $100 or one per cent of the purchase price (whichever is greater).
Commercial vehicles
There is no cooling-off period if the car is purchased in the name of a company or body corporate, or if it is classified as a commercial vehicle.
Last updated: 17/10/201
Used car cooling-off period
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What is a cooling-off period?
Cooling-off periods apply to cars and motorbikes bought from licensed motor car traders.
You have three clear business days (excluding weekends and public holidays) after you sign a contract to change your mind. This is your cooling-off period. However, if you choose to accept delivery of the vehicle during this three-day period, you will automatically lose your right to cool off.
Licensed motor car traders are required to include a prescribed information box in the contract of sale for each vehicle they sell, that sets out information about the cooling-off process.
A licensed motor car trader is not obliged to order a vehicle from the manufacturer before the cooling-off period expires. You should therefore clarify with the licensed motor car trader when you can expect to receive it.
Changing your mind
If you change your mind, the dealer must be notified in writing. You should confirm with the dealer before the end of the cooling-off period that he or she has received the notification. The dealer can keep some of the deposit you have paid ($100 or one per cent of the purchase amount, whichever is greater).
Commercial vehicles
There is no cooling-off period if the car is purchased in the name of a company or body corporate, or if it is classified as a commercial vehicle.
Last updated: 27/10/2016
QLD Cooling off Period
Cooling-off period for buying a used car
When you buy a used car from a licensed motor dealer, you're entitled to a cooling-off period of 1 business day. You can cancel the contract during the cooling-off period without large penalties.
A licensed motor dealer cannot refuse to grant you a cooling-off period.
There is no cooling-off period for new vehicles.
After you sign the contract, the cooling-off period will end either:
- on the dealer's next business day at 5pm
- if the dealer closes before 5pm, the following business day at their usual closing time.
You can drive away with the vehicle during this time. However, you will lose your right to a cooling-off period if you do.
This doesn't count if you take the vehicle:
- to an independent mechanic for an inspection
- for a test drive.
The cooling-off period doesn't apply when you buy a used vehicle:
- on consignment
- at auction
- privately
- if you are a motor dealer yourself (unless you're buying it for personal use).
The cooling-off period also doesn't apply when you buy:
- an unregistered vehicle, that cannot be registered or intended for wrecking
- a commercial vehicle (defined as a vehicle built for carrying goods or more than 9 people, but not a utility with a 1 tonne or less load carrying capacity)
- a caravan.
Contract
Once you and the dealer have signed the sales contract, it's binding on the dealer.
You are bound by the contract as soon as:
- the cooling-off period expires
- you drive away with the vehicle during the cooling-off period.
Cooling-off period form
Before you sign the contact, the dealer must fill out and give you the [ame="https://publications.qld.gov.au/dataset/a9f5e13f-3dda-40c0-a8c1-4093c0450b06/resource/b723792d-0526-42b7-8aa4-02fb75672f25/download/0475ftmdcaf12v1securityenabled.pdf"]cooling-off period form (PDF, 172KB)[/ame].
If you don't get this form, the dealer must give you a 7 day cooling-off period instead of 1 day.
Deposit
The dealer can charge you a non-refundable deposit during the cooling-off period. The amount cannot be more than $100.
If you go ahead with the sale, the dealer takes away this amount from the vehicle's sale price. If you end the contract, the dealer may keep some or all of your deposit.
The dealer must tell you in writing about these conditions.
Ending the contract
To end a contract, write to the dealer to tell them that you don't want to go ahead with the sale.
You can deliver it in person, by email or fax.
The dealer cannot refuse your attempt to use your cooling-off period rights.
Interest from another buyer
The dealer may give another person a chance to buy a vehicle, even once it's under contract. The second buyer can only buy the car if the existing contract falls through. This is usually when the original buyer ends their contract during the cooling-off period.
Once the original buyer takes the vehicle home, the dealer must fully refund the second buyer's deposit.
Consignment vehicles
A consignment vehicle is sold on behalf of someone else. Usually a consignment sale involves a motor dealer selling a vehicle on behalf of its owner.
Consignment vehicles don't have a cooling-off period.
The dealer must tell you that:
- it's a consignment vehicle
- the cooling-off period doesn't apply.
Any advertisements must also clearly state this.
Vehicle trade-in
You may have traded in your old vehicle as part of the agreement. The dealer must return it to you if you cancel in the cooling-off perio
