Purchasing a used car is never without danger. It’s nearly impossible to determine a car’s history and facts regarding its current condition. Although there are services such as Pandr Junk Cars that will evaluate a vehicle for you before buying it, many individuals prefer to go it alone. It is the most common way to end up with a problematic car on finance.
Of course, there are occasions where this results in an issue or two with the car. When you acquire a faulty vehicle on financing, your scenario can go one of several ways, depending on whether it’s mechanical, electrical, or something else entirely.
The Repairing Right
When there is a problem with a car purchased on financing, the first port of call is usually to notify the dealer of the problem. It is when your consumer rights come into play. You may or may not need to take the vehicle to a garage first to demonstrate the extent of the damage and that you did not cause it. Still, the dealer should immediately confess responsibility and use their entitlement to repair in most situations.
The right to repair implies that the dealer should be given the option to rectify the damage before proceeding with any other action. They can get it fixed whether they use their garage or another shop approved by the credit company because they own the car. Once they take responsibility, the repair should be at their expense rather than yours. They may even cover you for a courtesy car, albeit inconvenience throws up an altogether different alternative, which we shall explain below.
The right to refuse
In addition to the dealer’s right to repair, you as the customer have your rights. In addition to the rest of your rights when purchasing a used car, you have the option to refuse a damaged vehicle. Again, this is usually only applicable if you can demonstrate that the issue was not caused by you and existed near when you purchased the car.
The right to refuse means that you have the option to leave the car and get your mortgage repaid. You can exercise this right within 30 days after purchasing the car and not even allow the right to repair to be exercised. However, after 30 days, the right to reject might be exercised when the dealer has attempted or declined to repair the item. It can also be utilized if the repair will cause you significant discomfort in some circumstances, albeit this is more difficult to manage.
Is it possible for the finance company to refuse to return it? As a result, you decide to return the damaged vehicle and try again. That’s all right. However, if you have difficulty proving fault at any step in the process, the loan company may try to prevent the return and blame you instead. While this isn’t always the case, it’s something to keep.
Typically, the lending firm will launch an investigation. They will evaluate the vehicle, the problem, and the conditions before making a final judgment on whether or not to accept the vehicle’s return. If they receive, you should be returned your money, or at least the majority of it, depending on your contract, and then be free to depart. However, in some situations, they may deny your claim. If this occurs, you will be held liable until you take action. This entails completing the contract as well as paying for the repair.
Can I file an appeal?
You have the right to appeal if your rejection or return is rejected. It is usually done through the Motor and Financial Ombudsman. It is a legally run service for individuals to utilize without the need for legal assistance or counsel unless you desire to obtain it.
The automotive ombudsman will investigate the case. If they reach a different decision on the problematic car than the financing company did, they may demand that the finance company accept the return and pay you or OK them. This is a significant incentive for the loan firm to do its part and maintain things in order.
Is it possible for me to sell the car?
Another frequently asked concern about this topic is if you can sell the car if it is financed. That way, at the very least, you may stop the contract and be done with it, but unfortunately, this is not a legal solution to the problem. Because the car officially belongs to the credit provider until your contract is over and you acquire the car, you will never be able to sell it. Selling a car with unpaid financing without informing the buyer is prohibited and considered fraud.
There are, however, several companies that specialize in purchasing vehicles with special financing. While they may not return the money you put in or even the car’s value, they may nevertheless present you with a chance to cancel your arrangement with your financer and end your contract, albeit perhaps out of pocket.
What if I traded in my car?
Part exchange is a dependable approach for many people who buy a car on credit to start the process and reduce payments that must pay throughout the process by reducing, if not functioning, totally as a deposit. Although you may obtain more short than the car is worth or may be able to get out of your current finance agreement if the new seller offers that service, things become more complicated if there is a problem with your new financed car.
You will seldom be able to get your automobile back if you part exchange it, whether you use car finance or not. It’s usually worth more to the seller than to you. They may have already spent time listing, cleaning, fixing, or even selling the vehicle to another buyer, making it nearly impossible to get it back. They may alternatively pay you a cash return. However, this varies depending on the circumstances.
Conclusion
Overall, purchasing a damaged car on credit is a daily sad reality. There are situations across the country that are handled and refused regularly, and it indeed does come down to each specific case, just like anything else used car-related.
Cars are sophisticated devices that require careful attention, especially when purchasing. With so many areas that might cause problems, seeking professional counsel is always the best way forward. As you can see, it can also save you money, time, and a lot of stress in the long run.
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