NSW Car purchase from private seller

[Bron357]

hi, we saw a car today from a private seller and liked it and made an offer. We were going back on Monday to check the service records etc and then go to the bank to do payment. We didn't pay any money or sign anything. However I've just found out that because this car has a turbo the insurance premiums are like "whoa" for an under 21 driver. It was to be for our 16 year old daughter to drive. We now don't want this car as it's not going to be way too expensive for us to insure. Can we just phone the seller and say sorry but we have to change our mind because of the unexpectedly high insurance premium? Not very nice of us and yes, I should have thought to check beforehand. Thanks for your advice.

 

[Lance]

Hi Bron,
It's one of those things that you entered into a verbal agreement, you made an offer and they accepted the offer. If you called them and apologise because the money isn't available, in most cases the seller will just move on. It usually a rare situation for someone to pursue you for a breech of contract in this sort of thing.

 

[Bron357]

Thanks, I feel quite bad never having done this sort of thing before (having to change my mind) and could kick myself for not thinking about the insurance aspect beforehand.