Cancellation of loan repayment
The revocation procedure makes it possible. Cancellation of a vehicle purchase after termination of the loan agreement If the automobile dealer arranges a credit agreement for wholly or partially financing the purchase price, the credit agreement and the credit agreement are legally binding. If the purchase contract is canceled, the vehicle buyer is no longer obliged to the loan agreement. When canceling a car purchase contract as the reason for the cancellation is usually a challenge of the prospective buyer for fraudulent concealment of errors of the purchased vehicle by the provider or the resignation of the car buyer due to legal warranty claims in question.
Car buyer revokes the credit agreement
However, it is also conceivable that the car buyer revokes the credit agreement with the wholesaling or wholly-owned house bank, so that even in this case the car purchase contract must be reversed, even if the vehicle has no quirks at all. This was also the case in a lawsuit before the Berlin Regional Court and the Berlin Appeal Court.
In order to partially finance the purchase price of the vehicle he had purchased, the automobile buyer had taken out a loan from the car dealership with the in-house savings bank of the car manufacturer. About one and a half years after signing the contract, the car buyer has revoked the loan agreement. The notice period for this loan agreement is in principle only 14 days. However, the notice period does not expire until Yaberns notifies the car buyer (as a consumer) of all the necessary mandatory information on the loan agreement.
In the opinion of the Berlin district court, this includes Yaberns’s statement to the borrower that he can dissolve the loan agreement as so-called permanent debt for important reasons at any time. In addition, in the event of a premature termination of the loan agreement by the purchaser, Yaberns must also state the method of calculation used to calculate the prepayment penalty.
There is no need for detailed financial mathematics.
However, the calculation method for the borrower must be able to be experienced in principle. In the view of the Berlin district court just missing this in the credit agreement in question. Through his revocation, the car buyer could thus reclaim the down payment paid to the seller and all the credit installments he had made to the principal bank.
However, the car buyer had to withhold the interest payments resulting from the credit agreement as well as a user compensation for the kilometers covered by the car from the automobile buyer to the return of the vehicle. The car buyer had used the car regularly until his loan resignation. Only if the use of the car takes place only from an examination (eg a test drive with a red license plate), a use compensation is waived.
As a result, the LG Berlin has awarded the motor vehicle buyer the majority of its claims. After the complaint of both the car buyer and the banks against the decision of the Berlin district court before the Court of Appeal Berlin both sides have since withdrawn their respective complaints. Thus, the judgment of the district court (ref. 4 O 150/16) is final.
According to the decision of the Berlin district court car buyers have therefore regardless of existing vehicle defects (keyword: exhaust gas manipulation software for diesel models) the option to reverse the vehicle purchase also due to legal defects in the sale price financing loan agreement.