(1) A contract for the sale of a used motor vehicle by a motor dealer must
contain a clause clearly headed ‘COOLING-OFF PERIOD’ stating the
following—
(a) the day and time the cooling-off period starts;
(b) the day
and time the cooling-off period ends;
(c) property in the motor vehicle does
not pass to the buyer until the end of the cooling-off period, unless the
buyer takes physical possession of the vehicle for a purpose other than—
(i)
a vehicle inspection; or
(ii) a test drive;
(d) the buyer or the buyer’s
agent may possess the vehicle during the cooling-off period, but only to have
the vehicle independently inspected or to test drive the vehicle;
(e) the
buyer may avoid the contract at any time during the cooling-off period by
giving written notice to that effect to the dealer in accordance with this
Act;
(f) the amount of any non-refundable deposit paid by the buyer if the
contract is avoided during the cooling-off period;
(g) if the contract is
avoided during the cooling-off period, the motor dealer must return to the
buyer—
(i) any trade-in vehicle offered by the buyer that the motor dealer
has taken possession of; and
(2) If the contract does not comply with
subsection (1) , the buyer, by written notice given to the motor dealer, may
avoid the contract for the sale of the used motor vehicle.
(3) The notice
must be given to the motor dealer within 7 days after the day property in the
vehicle passes to the buyer.
