By rejecting the vehicle, you can get a refund or a replacement of the same or similar vehicle. Read more about Faulty products. However, a general statement such as 'as is, where is' may breach the guarantee of acceptable quality if it leads to you accepting a poor-quality vehicle.
This may also breach the Fair Trading Act by trying to get out of the consumer guarantees and misleading you about your rights. If the dealer gives you false or misleading information about a new or used vehicle or your consumer rights, you have rights under the CGA and FTA. This could mean a full refund. Read more about Misleading prices or advertising. The CGA guarantee of title means a car dealer must have full legal ownership and the right to sell the car. If the vehicle was stolen, you may have to return the car but you can claim compensation from the dealer.
This also means a car dealer must tell you if a finance company has a security interest in the car because they are still owed money for it. To find out if the car was sold to you with money still owing, check whether the 'security interest' box is ticked on the Consumer Information Notice CIN. The dealer would have given you a copy of the CIN when you bought the car. If any of the information given about the security interest is wrong on the CIN, ie the box was not ticked, then it is invalid and you have full ownership rights.
Under the Consumer Guarantees Act CGA , manufacturers, importers and distributors must ensure spare parts and repair facilities are available for the vehicles they assemble or import. They can do so themselves or through their agents. This rule applies to all vehicles sold in New Zealand for the first time, eg new and imported second-hand vehicles when they are first offered for sale in New Zealand.
This guarantee doesn't apply if you were told at the time of sale that spare parts or repair facilities were not available, or were only available for a certain period of time.
If you bought an extended warranty or breakdown insurance, this may also cover you for any mechanical or other defects. This can be up to three years or , kilometres. Warranties usually have terms and conditions you must follow, eg the vehicle must be regularly serviced at an approved garage.
You could lose your right to a remedy if you do. When you approach the dealer, they should get the vehicle inspected and decide whether the problem is minor or serious. The dealer must get any repairs done within a reasonable time. Be sure to tell them when you need the car back by. Ask for a 'courtesy car' while they repair the vehicle, although a dealer is not legally responsible for providing one. If you agree to repairs and they don't fix the problem properly, or the vehicle develops further faults, your rights continue.
You can choose your remedy options again until your problem is sorted. If the report supports your claim that the fault is serious, go back to the dealer to reject the vehicle and choose a refund, replacement or repairs, plus compensation for the cost of your report.
The car may be repossessed if you do. You should contact your finance company to tell them about the problem and discuss your options.
If your dealer arranged your finance, the finance company is also responsible for giving you a remedy for the problem under the CGA. This is particularly important if the dealer is not being helpful or has gone out of business.
Read more about Getting a car loan. What most people don't realize is that dealers do not finance the car loans. They simply arrange financing using their relationships with banks, financing companies, and in some cases their manufacturer's captive finance company.
Since they're middlemen, they get a piece of the pie. Here's how dealers typically screw over car buyers: 1. Packed Payments This is the most common car financing scam and it works on the premise that most car shoppers focus only on the monthly payment instead of the actual price of the vehicle. Dealers will increase the car payment by including or packing products and services that you didn't ask for into the loan, such as extended warranties and GAP insurance.
An easy way to avoid this scam is to arrange your own financing before going to the dealership. See: Packed Payments Scam for more details 2. Spot Delivery Scam This is when the dealer arranges the financing, let's you take the car home, then calls you up several days later telling you the financing fell through and that you need to bring the car back.
When you're back at the dealership, they will pressure you into signing a loan with a higher interest rate, larger down payment, or both. Either way, you end up paying a lot more than you expected and the dealer makes a nice, fat profit. If you have bad credit and this happens, you can rest assured it was a scam all along. The way to prevent this is to arrange your own financing - don't just rely on the dealer, they're not looking after your best interests.
Bad Credit Score Scam Some dealers rely on the fact that many car shoppers don't know their own credit score. If you go to a dealership without knowing this and you're going to rely on them to get you an auto loan, you're just dying to be ripped off.
All it takes is for the dealer to lie to you about your credit score. After they do a credit check, they don't have to reveal what your score is, they can just tell you that you won't qualify for competitive financing rates. At this point, most car buyers are desperate and think they won't get financed.
When the dealer presents a loan with a high interest rate, you're more likely to take it, not realizing that you just gave the dealer thousands of dollars in extra interest payments that weren't necessary. To prevent this, make sure you check your credit score and get your free credit report. Finance Markup When you apply for financing through a dealer, they shop your application to several lenders and get to see what rates you qualify for.
This is called the "buy rate". The dealer will keep the additional markup as their profit. They actually split a small portion of the profit with the finance company. This profit is called "finance reserve" or "dealer reserve". You may be saying to yourself "well, 2. It seems small, but it adds up to a lot of profit when you take into account the life of your loan. This is why it pays to shop for financing before going to the dealer.
The dealer should try to beat the best rate you got on your own - not offer you the loan that has the biggest profit potential for the dealership. But it gets even worse - here are the other ways they can make money if you don't do your own research and comparison shop. Taking Advantage of Fees and Limits As if marking up the loan rate wasn't bad enough, some dealers will present you with loans that have the highest profit potential rather than loans that will give you the best interest rates.
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