Car Loan

Revocation of car loans difficult

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The ghost of the “Revoked Joker” is among the Autobanks. The ghost has launched some law firms . The law firms see a gap in the revocation of car loan agreements of the auto banks. The gap, in their view, ensures that the 14-day withdrawal period for the consumer does not begin to run. If the courts recognize how the law firms proclaim it, that would mean that millions of loan agreements could be revoked.

District Courts: Autobanks are almost always right

In the meantime, there were already some legal disputes about the revocation of car loan agreements for exactly this reason. So far, different regional courts dealt with the cases. The autobanks have so far been able to win the majority of the cases and the judgments gave them mostly right.

By the example of the industry leader, the VW Financial Division VWFS so far 19 judgments have been made. Of these, 17 judgments were made in favor of VWFS. It gives the impression that the position of the car banks is almost unassailable. All judgments were made at regional courts . How a decision would fall to a higher authority, remains open.

So far, the judges are circling the reference to a special right of termination . Whether it is necessary or not has been the subject of judgments and is not uncontroversial among lawyers.

Compensation for compensation

For the revoking car buyers revocation alone does not bring any significant advantage. The use of the car results in a loss of value which the credit institutions claim as compensation . Only if a judgment recognizes this compensation as unlawful and dismisses the buyer without payment of the value replacement from the contract, there is a real advantage. So far, however, this was not the case in any of the convictions against the VW financial sector.

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