Consumers can cancel defective, financed purchases using common law – Moonstone Information Refinery

Consumers can cancel defective, financed purchases using common law – Moonstone Information Refinery

The Supreme Court of Appeal (SCA) has confirmed that a consumer may rely on common law remedies to cancel a credit-financed vehicle purchase where latent defects are discovered, even when the transaction falls under the National Credit Act (NCA). The judgment affirms that financing a vehicle through a credit agreement does not insulate a bank from the consequences of serious latent defects in the vehicle, nor does it automatically displace long-…