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Hello, I have signed a contract to purchase a car, finance…

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Hello, I have signed a...
Hello, I have signed a contract to purchase a car, finance approved but I have done some figures and I have decided to pull out. I have been told that I cannot. Is this true.
Submitted: 8 years ago.Category: Australia Law
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Answered in 38 minutes by:
6/9/2010
Solicitor: Peter G., Solicitor replied 8 years ago
Peter G.
Peter G., Solicitor
Category: Australia Law
Satisfied Customers: 767
Experience: Law degree from the University of Melbourne 1978, with thirty years of practice experience.
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There are no WA lawyers on this site, and the law is State based, but I'll do what I can. The only thing I can think that could save you is if there is a cooling off period - it would be clearly displayed - can you see anything on the sale contract about this?
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Solicitor: Peter G., Solicitor replied 8 years ago
Pressed wrong button -just keep this exchange going......
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Customer reply replied 8 years ago
It clearly states that there is no cooling off period, however a friend in the industry has said that because I have not given a deposit the contract would be void. I have not signed any paperwork to say I accept the finance. They seem to want me to pay 15% of 21,000$ or potential court action.
Solicitor: Peter G., Solicitor replied 8 years ago
If there is no cooling off period, then I think you are bound by the contract. The fact that you haven't paid a deposit doesn't matter ... well except for the old maxim that possession is nine tenths of the law.

Do you have any idea why your friend in the industry said this? The fact that he is in the industry gives some reason to pause and listen. As a normal matter of law, you don't have to pay a deposit to be bound.
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