South Australian Current Acts

SECOND-HAND VEHICLE DEALERS ACT 1995 - SECT 18D

18D—Trade-in vehicles

        (1)         If in connection with a contract to which section 18B applies, legal title to a vehicle owned by the purchaser is to pass to the dealer by way of trade-in (the "trade-in vehicle"), the following provisions apply:

            (a)         the purchaser is to retain possession of the trade-in vehicle during the cooling-off period;

            (b)         details of the condition of the trade-in vehicle at the commencement of the cooling-off period must be recorded in the approved form, which must be signed by the dealer and the purchaser;

            (c)         legal title to the trade-in vehicle does not pass to the dealer until the expiration of the cooling-off period.

        (2)         If during the cooling-off period the trade-in vehicle, or any part of the trade-in vehicle, is altered in any way or damaged—

            (a)         the dealer may, by written notice in the approved form given personally to the purchaser, rescind the contract to which section 18B applies and any contract made in connection with that contract; and

            (b)         if the contract to which section 18B applies is so rescinded—any contract entered into by the purchaser for the provision of credit in connection with that contract is void and any associated mortgage or other security taken by the credit provider is discharged.