No Longer Want to Trade-in My Car - What to Do?

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19 July 2014
I signed a contract today on a second hand car, to collect late next week, and trading my car in. I have since been offered more for my car privately. I called the dealer saying I no longer wanted to use my car as a trade in. I was told that I have to trade my car in as they have already done a deal to sell my car on to a smaller dealer. I have waived my cooling off period. Any advice on Australian Consumer Law would be greatly appreciated.

Tim W

LawTap Verified
28 April 2014
Once you signed with the dealer, the car was no longer entirely yours to sell
(even if you hadn't actually handed it over yet).*

Assuming you still want to buy the car,
offer them the equivalent amount of cash and see how you go.

* This is because the dealer now has an equitable interest in the car
for which you need to have regard
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