| Vancouver Auto Chat 2016 VAC Community Head Moderator: Raid3n |
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11-11-2009, 10:17 PM
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#1 | | Wunder? Wonder?? Wander???
Join Date: Jul 2004 Location: Vancouver
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| Leasing Agreement
Couple days ago I decided to pull the trigger to lease a car. The deal has been made and i have signed the vehicle lease agreement. I agreed to put in $5000 down payment and the dealer asked me to put in $3000 and the remainder I can pay out by the time I pick up my car which will be 2 weeks from now. My question is can I bail out of this lease since I haven't pick up the car and get my $3000 back?
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03 Burton Dragon 62
03 Burton C14 bindings
Boots: n/a
5DMKII w/ EF 24-105mm f4.0L & EF 85mm f1.2L II
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11-11-2009, 10:29 PM
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#2 | | racing & tech mod.
Join Date: May 2004 Location: Vancouver
Posts: 4,034
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| Quote: You are Entitled to a One-Day Cooling-Off Period
The Motor Dealer Act Regulation provide for a one clear day cooling-off period. During this time, as long as the dealer keeps the vehicle, you can cancel the lease without penalty. For example, if you sign a lease on Tuesday and change your mind, you must notify the dealer of your decision to cancel on Wednesday.
While you have the whole day to cancel, it's better to notify the company during business hours so you can obtain written confirmation from the dealer that your contract has been cancelled. If you choose to cancel after business hours, ensure you have proof that you notified the company before midnight.
Days the dealer is closed do not count as cooling-off days. Statutory holidays and Sundays also do not count. Therefore, if you sign a lease on a Saturday, Monday is considered the cooling-off day when you may cancel the contract.
As of July 1, 2006 consumers can now waive this requirement in writing. However, if you choose to waive this right make sure you understand and are satisfied with the terms and conditions of the lease agreement.
| You've gone past your 1 day cooling off period.
Don't sign contracts if you are unsure.
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11-11-2009, 10:31 PM
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#3 | | Wunder? Wonder?? Wander???
Join Date: Jul 2004 Location: Vancouver
Posts: 232
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I signed it yesterday. If I inform them tomorrow will it work?
__________________
03 Burton Dragon 62
03 Burton C14 bindings
Boots: n/a
5DMKII w/ EF 24-105mm f4.0L & EF 85mm f1.2L II
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11-11-2009, 10:58 PM
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#4 | | F**K YOUR HEAD
Join Date: Apr 2009 Location: vancouver
Posts: 8,718
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| Quote: |
Days the dealer is closed do not count as cooling-off days. Statutory holidays and Sundays also do not count. Therefore, if you sign a lease on a Saturday, Monday is considered the cooling-off day when you may cancel the contract
| holiday!
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11-11-2009, 11:06 PM
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#5 | | HELP ME PLS!!!
Join Date: Nov 2005 Location: vancouver
Posts: 5,988
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yes because today is a statutory holiday
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11-11-2009, 11:13 PM
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#6 | | Banned (ABWS)
Join Date: Aug 2008 Location: Surrey
Posts: 431
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Lucky
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11-11-2009, 11:40 PM
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#7 | | racing & tech mod.
Join Date: May 2004 Location: Vancouver
Posts: 4,034
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why are you flaking out?
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11-11-2009, 11:43 PM
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#8 | | racing & tech mod.
Join Date: May 2004 Location: Vancouver
Posts: 4,034
Thanked 507 Times in 188 Posts
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fyi, any dealer with any ethics or morals will give u more than a day or two to change your mind.. only the jerks sticks to the rules 100% or break them.
I just hope u have a real good reason for changing your mind... otherwise you just wasted some people's valuable time.
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11-12-2009, 01:05 AM
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#9 | | Banned By Establishment
Join Date: Mar 2006 Location: Richmond
Posts: 12,484
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I think when i leased my tl it took no longer than 45 minutes.
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