Is there a cool off period after signing the Sales Agreement

[Psfong]

I'm having second thoughts about the Sales Agreement that I signed with a PI, is there any legal clause that entitled me to a cooling off period?

[Porker]

Escape clause? Read through your agreement and check if there's any lor

[Apollo]

ask case if u got a case.

[Rickster]

Usually there will be, and its to forfeit your deposit

[Rickster]

Ya, that's the best thing that he will ever do in his life if he consults CASE

[Galantspeedz]

3 days under Sales of Goods act.

 

But

 

1) have to be for personal usage and not commercial

2) have to be less than $55,000 before COE to qualify for the Hire Purchase Act

 

if you fulfill these 2, i think u can try to contact CASE

[Psfong]

Thanks for the reply, this is what i need.

 

I checked with the dealer, he says he will forfeit the deposit.

 

The reason I have second thoughts is that, he charging me GST on the Selling price - Loan amount. The reason he gives is that he need to cover the overhead.

 

Another thing is that he is bidding for 12K only. Dunno can get or not.

[Zealot]

I'm having second thoughts about the Sales Agreement that I signed with a PI, is there any legal clause that entitled me to a cooling off period?

 

got, after the dealer tells you he will forfeit your deposit, you will go into a self imposed cooling period to cool down.....

 

just kidding , why not share on why you are having 2nd thoughts? prefer another car?

[Psfong]

The reason I have second thoughts is that, he charging me GST on the Selling price - Loan amount. The reason he gives is that he need to cover the overhead.

 

Another thing is that he is bidding for 12K only. Dunno can get or not.

Main thing is the COE bidding at $12k only. Very low. I highly suspect that he will ask for a top up although its 1-bid guaranteed.

[Apollo]

if he cannot get.. how many bids will he attempt?

[Eyke]

GST cannot anyhow charge one, coz all GST collected must go to the Gov.

 

GST is supposed to be collected on Custom Duty and OMV only.

 

If dealer keep, then it's not GST...

Edited September 3, 2007 by Eyke

[Acemundo]

if u suspect that isn't it better you just wait for him to fail bidding and return you the deposit?

 

unless you telling me hte deposit damn insignificant.

[Psfong]

Until i get the car lor.

[Gearoil]

I'm having second thoughts about the Sales Agreement that I signed with a PI, is there any legal clause that entitled me to a cooling off period?

 

Depend on how you deal with any suituation lah....cooling off or not cooling off is a whole load of Bxll sxxt lah..if PI lan, lan want to kuai lan ..go back there with a few tatoo bros with BIG fore arms and see whether he'll return every single cent back to you or not?

[Zealot]

as long as your agreement states in black&white that it's a 1-bid guaranteed, heck care what he bid, die die he will get you your COE, just remember to refuse if the dealer tells you he got a open cat for you! unless the open cat is from a period where the COE for CAT-A didn't drop like bird sxxt.

 

But i agree the GST charge is ridiculus, did you know that before or after you signed?

[Mzrmazda3]

Agree Bro

 

How can this dealer give such a reason as to charge GST to cover overhead???

[Godfinger]

FYI I just cancelled my Deal from a PI.

Reason is that I am unable to obtain

a Loan which I want.

Initally the Sales says he will help

to fight for me but in the end I cant get

the Lan amount (Overloan $6K no approved)

 

As such, I decided to cancel the Deal

and the PI willing to refund my deposit but

less Admin charges which is $1K.

 

So all in all, I lost $1K in 5days time.

At least I wake up from my experience,

to try loan first before signing on the

paper.

[Zealot]