Often a question posed as the weary consumer, but are you getting the right answer?
You wish to enter into an Installment Sale Agreement to purchase a new car. The seller and/or institution, who is assisting with the closing, advises that the National Credit Act 34 of 2005 and the consumers related rights provided therein are applicable to this transaction.
You ask, but does that mean that my rights under the Consumer Protection Act 68 of 2008 (the “Act”) will not apply?
Section 5 of the Act provides that the Act is not applicable to credit agreements (which includes Installment Sale Agreements) as defined in the National Credit Act, save for application of Section 60 and 61 of the Act (which deals with safety and damages due to failure of a product). However the Act further provides that it will apply to your Installment Sale Agreement or any credit agreement, where the subject of the agreement is goods or services, in so far as it pertains to those goods or services. Therefore both the National Credit Act 34 of 2005 and the Consumer Protection Act 68 of 2008 will apply to your transaction – the purchase of a new car, when you are buying the car by means of an Installment Sale Agreement.
What are your key consumer rights under the Consumer Protection Act 68 of 2008 –
- Right to Equality in the Consumer Market and Protection Against Discriminatory Marketing Practices;
- Right to Privacy;
- Right to Choose;
- Right to Disclosure of Information;
- Right to Fair and Responsible Marketing;
- Right to Fair and Honest Dealing;
- Right to Fair, Just and Reasonable Terms and Conditions;
- Right to Fair Value, Good Quality and Safety; and
- Right to Accountability by Suppliers.