Protect yourself. Read these important car-buying tips before you sign!
Recently a consumer named David wrote in to ask, “I was planning to buy a used car, but my financing didn’t get approved, can I get my deposit back?"
There are two different financing situations that can affect whether or not David can get his money back.
How did Black Friday — the day of mega-amazing colossal unbelievable can’t-be-beat blow-out sales signifying the unofficial start of the Christmas shopping season — get its name? Some would say Black Friday marks the point many retailers turn a profit for the year, going from being “in the red” to being “in the black.” The more cynical among us might argue it’s consumerism run amok and a black mark on our society. Though the origins of the name may be debatable, the lure of Black Friday is undeniable.
All shoppers know the checkout drill, you hand over your money, your goods are packaged and then the cashier tells you by rote, “You have 10 days to return or exchange, as long as you have the receipt.” You nod--you probably won’t return your purchase, but it’s nice to know that you could. You walk out the door, and live your life.
So here’s a question. When you sign a contract to buy a car from a dealer, there is,
a. A 24 hour cooling-off period
b. A 48 hour cooling-off period
c. A 10 day cooling-off period
d. No cooling-off period
You've signed on the dotted line and taken possession of your new vehicle—congratulations! It was everything you dreamed of and more.
65 Overlea Blvd.
Toronto ON M4H 1P1