A hire purchase agreement is a type of financing used by many consumers to purchase a vehicle. It allows the purchaser to pay for the car over time, rather than having to come up with the full purchase price upfront. However, what happens if you discover that the car you purchased through a hire purchase agreement is faulty?
If you find yourself in this situation, the first thing you should do is contact the dealer or finance company that you purchased the car from. Under the Consumer Rights Act 2015, you are entitled to a full refund or repair/replacement of the vehicle if it is not of satisfactory quality, not fit for purpose, or not as described.
It is important to act quickly in these cases, as there are strict time limits for making a claim. Under the Act, you have up to 30 days from the date of purchase to reject the vehicle and receive a full refund. After this time, you may still be entitled to a repair or replacement, but the burden of proof will be on you to show that the fault was present at the time of purchase.
If the dealer or finance company refuses to provide a remedy for the faulty car, you may need to take legal action. This could involve filing a claim in small claims court, which can be a time-consuming and stressful process. However, if you have a strong case and can provide evidence of the car`s faults, you may be able to recover the full value of the car, plus any additional costs you have incurred as a result of the faulty purchase.
To avoid these kinds of problems in the first place, it is important to thoroughly research any car you are considering purchasing through a hire purchase agreement. Always take the car for a test drive and have it inspected by a mechanic before committing to the purchase. Make sure you read and understand all of the terms and conditions of the financing agreement before signing on the dotted line.
In conclusion, purchasing a faulty car through a hire purchase agreement can be a frustrating and stressful experience. However, by understanding your legal rights and taking appropriate action, you may be able to receive a refund or repair/replacement of the vehicle. To avoid these kinds of problems, always thoroughly research any car you are considering purchasing and seek professional advice if necessary.