Ask a Law Question, Get an Answer ASAP!
Thanks for your question.
If you enter into a finance arrangement you will never own the car regardless of whatever type of finance you take out until you have repaid the finance company in full.
The dealer's statement is misrepresentation but if this was made orally you will have difficulty in proving this.
Is there a cooling off period or termination provision in the agreement.?
Apologies for delay.
The fact you paid a deposit is an indication of a contract and an intention to be contractually bound to purchase the car.
However, you will have to put forward that the seller misrepresented that you would own the car, which to you was a fundamental term of the contract. Due to misrepresentation that you would own the car you were induced into the contract. As you would not own the car the contract is void for misrepresentation and want the deposit returned immediately.
If the seller refuses you can take the matter to the small claims court for the return of the deposit. You can do this using the online service, money claim online. The court will decide if you have a case on the balance of probabilities.
If you can take out a personal loan you can buy the car and own it as the lender on a personal loan agreement will not have ownership of the car.
I hope this helps.