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If you buy a car on the MyCars website as a result of that car being offered to you by The Standard Bank of South Africa Limited in a direct marketing campaign, you may cancel any sale concluded on MyCars without reason or penalty, within five business days after the sale is complete or the vehicle is made available for collection, whichever is the later. This is known as a ‘Cooling-Off’ period. If you wish to cancel any sale during the Cooling-Off period, you must tell us in writing. If you have received delivery of the vehicle, you must return it to us. If you used the vehicle, we may charge our normal charges for their use, and any necessary restoration charges to render the goods fit for re-stocking. We will return payment that we have received from you within 15 days after:
This facility is produced by the Standard Bank of South Africa Ltd ("the Bank") for information purposes only. Information on this website is not warranted to be correct at all times. All vehicles are sold as is. The Bank does not guarantee a specific condition, state, added features or items of any vehicle. Any user making an offer participates in a tender bidding process and the Bank, in its sole and unbiased discretion, and for whatever reason retains the right to accept or reject any offer at any time for whatever reason. Neither the Bank nor mycars.cowill be liable for any losses of whatsoever nature incurred, as a direct or indirect result of the use of the information on this site. Any user of this site warrant to be familiar with all its terms and conditions and to abide by it.
- receiving notice of the rescission, if no goods have yet been delivered to you; or
- receiving the vehicle from you, if it has been delivered.
- The charges that may be levied against the consumer are limited in terms of Section 20(6) (c) of the CPA. Where a vehicle is purchased and is materially damaged during the cooling off period. Section 20 (6) (c) does not specifically cater for charges to restore goods sold to the condition they were in when sold, but to be fit for re-stocking. Accordingly, if Section 20(6) of the CPA is read to be restrictive and to allow for only the charges contemplated to be levied against the purchaser (and to deprive the bank of a right to claim material damages suffered), the bank will suffer the loss of any difference (diminution) in value where goods are returned in a damaged condition; and
- where a vehicle is damaged by a purchaser and the bank seeks to claim damages, it will be necessary to prove the condition of the vehicle prior to being sold on the auction.
What is a Private End of Lease vehicle?
Vehicles that have been privately owned and returned to BMW Financial Services at the end of their contract term.
BMW Motorplan is available on these vehicles subject to a change of ownership quality check at a your nearest BMW dealership.
Once the vehicle has been purchased the Motorplan must be changed into your name within 14 days of purchase failing which the Motorplan will be suspended until such time as the change of ownership has taken place.