I went to a car dealer on Saturday and looked at a car.

I then spoke to the finance manager who said he would check to see if I could get it on finance which he said I could.

I then did the forms and that was that.

He informed me i could cancel within 14 days if i so wished but never gave me a copy of the credit agreement.

I then decided not to go with the car

on the Tuesday and sent them an email saying I did not want it.

Today Thursday I got a call from the dealer asking me when I was coming to collect the car, I informed them of my email, they said they didn't get it.

I then told them over the phone that I didn't want it and put me trough to the finance manager who then said I could not cancel.

when I then reminded him of what he had told me on Saturday, he said he would ring me back as he needed to do something.

He didn't call me back

I spoke to a solicitor who said I should be able to cancel within 5 working days as it was not signed at the finance companies office.

Can anyone offer any advice?

if you signed in a showroom i dont think you can cancel.

have a look in this forum or the welcome one.

sure i've seen this mentioned several times.

dx

i didn't pay any deposit and the guy did tell me that i had 14 days to cancel. no credit agreement was given to me showing the terms and conditions so they are already in breach of the consumer credit act 1974

In order for a credit agreement to be legally executed, Both yourself and the Underwriters of the finance company need to both sign the agreement, So if you signed it on the Saturday and the underwriters didn't sign it until the Monday then on Saturday and Sunday would be the days that the credit agreement would not be legally enforceable. Keep a copy of your emai which you sent to them as this provides the date that you requested to cancel the agreement.

the above is corect if signed on trade premisis

where was the agreement signed

off trade prem its 14 days

you need written confirmation so time is short

send the cancelation request by recorded delievery

i have sent a cancellation letter on Thursday by special delivery to both the finance company the garage wanted none of it but when my solisitor called them they have started to change their tune they know i am not messing they have also made a slight spelling mistake in my name and got my address slightly wrong so dont know whats going on

where was the agreement signed

is it a hp

fixed sum loan agreement

it was signed in the dealer and he said i had 14 days to cancel i do have a withness to this yes it is a hire purchase

Have you recieved anything in the post from the finance company with a signed HP agreement, with both your signatures on it?

not yet

I believe you are well within your rights to cancel the agreement and it seems that you sol is stating the same. This needs clarifying asap.

Hi,

am a Finance Manager for a large car dealership.

As an above post stated, you have fourteen days to cancel the agreement if it was not signed on trade property.

As you signed in the dealership I am afraid you cannot.

However, again as someone has stated if you tried to cancel before the deal was executed then you have a right.

Did the finance manager give you a copy of the Pre contract and all subsequent documents at the time of sign up?

Did you purchase any insurance products, ie gap, ppp ect as these products do have a 14 day cancellation period.

Which finance company have you signed with?

ppi etc has a 30 day period to cancel

Well if we are being pedantic, PPI is cancellable throughout the term of the loan if monthly premium payable.

The point i was trying to make is that maybe the poster got wires crossed in respect of the cancellation period.

The finance manager may have said you have 14 days to cancel insurance products ect and customer then thought this included the finance agreement.

If the original poster can let me have the above info i will double check for them.

Quote

Well if we are being pedantic, PPI is cancellable throughout the term of the loan if monthly premium payable.

 not being picky 

most of the insurance crap is front loaded 

ive yet to come upon a car finance agreement with monthly payments for the insurance crap

On a HP agreement it has to be shown seperately, so the customer knows exactly what they are paying for. Ie if the total monthly payment is £200 per month and included in that is gap insurance of £15.00 per month it has to be shown

Car insurance/warranty

On a personal loan document they dont need to split them up (This is car finance only) just incase someone comes along and tries to shoot me down.

On a HP agreement it must be broke down for the customer so they can see

how much the car is costing per month,

how much the insurance is per month

and then a total monthly premium.

To be honest though some dealers may not follow the rules as they should

Quote

On a personal loan document they dont need to split them up (This is car finance only) just incase someone comes along and tries to shoot me down.

they do if ppi etc is added

Quote

 

On a HP agreement it must be broke down for the customer so they can see

how much the car is costing per month,

how much the insurance is per month

and then a total monthly premium.

To be honest though some dealers may not follow the rules as they should

 

that should also be provided in the statement of price