81Right to terminate contract during cooling off period

81 Right to terminate contract during cooling off period

81 Right to terminate contract during cooling off period

(1) A purchaser may terminate a contract for the purchase of a motor vehicle to which this Division applies by notice in writing given to the motor dealer during the cooling off period for the purchase.

(2) Despite any other law, the purchaser is not entitled to possession of the motor vehicle during the cooling off period, unless the purchaser and the dealer otherwise agree.

(3) The right to terminate a contract may be exercised even though the purchaser has taken delivery of the motor vehicle concerned.

(4) A contract for the purchase of a motor vehicle to which this Division applies must contain a provision, in the form prescribed by the regulations, setting out the purchaser’s rights under this Division and the effect of this Division.

(5) A notice of termination by a purchaser must be signed by the purchaser or the purchaser’s Australian legal practitioner.

(6) The cooling off period may be extended by a provision in the contract of sale or by agreement with the motor dealer.