With a new verdict, the Federal Court of Justice has the Instructions for cancellation provided tailwind for car financing. According to a Judgment of March 30, 2021 the Federal Court of Justice has ruled that a loan for car financing as well revoked a long time after the conclusion of the loan agreement the responsible bank should be one incorrect cancellation policy have used (Ref .: XI ZR 142/20). The judgment of the Federal Court of Justice is based on a case from 2014. At the time, a consumer bought a used Mercedes and took out a loan to finance it. A 14-day withdrawal period applies to such a consumer loan. However, the consumer only brought the actual revocation in 2018, after the loan agreement had already been concluded Was 4 years old.
BGH XI ZR 142/20
With her lawsuit, the consumer had initially at the OLG Stuttgart no successbecause the judges made it clear that the deadline had already expired and that the instructions on how to withdraw could not be objected to, as all the necessary mandatory information was available in accordance with Section 492 (2) BGB in conjunction with Article 247 and Sections 6 to 13 EGBGB. The Federal Court of Justice saw this in its judgment, however anders.
The decisive factor was that a car loan is a linked contract, which is why the contract has to have two additional headings, namely "Special features for other contracts"And"Objections to related contracts“Must contain. Since these two headings were missing, the bank's cancellation information did not comply with the norm and was therefore incorrect. Therefore, the withdrawal period has not yet started and the loan agreement can still be withdrawn.
As with car financing mostly related contracts are applied, the successful revocation of the loan agreement will also result in the Purchase contract withdraw. That means that the consumer returns the vehicle to the bank can return and get back all payments made and any down payments made.
In many cases, such a revocation is then more lucrative than one Resale, because in the event of a revocation, aspects such as loss of value or driving bans, especially in connection with the emissions scandal, irrelevant are. Thus, the revocation is an interesting option to get out of a sales contract to get off. Many banks have so far made mistakes that justify such a revocation.
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