URGENT - Welcome Car Finance

Hobbie · 23rd July 2008, 13:55

Hi, quite an urgent post.

I've just been asked by a good friend of mine, if he can return his car to WCF *WITHIN 24 HOURS* of signing the agreement and accepting delivery of the car.

Several reasons and factors he went into why he wants to return it, but those I wont post here.

As I say it is quite urgent, so any replies would be appreicated.

Thanks

drob · 23rd July 2008, 16:38

Has your friend contacted WCF and asked them, he can also state the reasons why.

Is there a cooling off period quoted anywhere on the agreement?

Was the agreement signed at WCF?

Hobbie · 23rd July 2008, 20:31

drop,

I went over to the WCF "Showroom" with him, he got it all sorted, manager refused to accept the vehicle back, as no cooling off period was available on a HP agreement.

Upon myself asking the manager on my friends behalf if credit agreement had been duly executed and filed with the underwriter, the manager very sheepishly stated it had not as yet, I then mentioned Section 57 CCA 1974. The manager accepted the vehicle back and cancelled the agreement.

Now what he does for a car is another matter, but I have told him to avoid these types of places in the past... no doubt it will happen all over again...

John Atkinson · 23rd July 2008, 21:01

Have a look over at Car Credit Complaints the guys over there may well be able to point you in the right direction

Good luck,

John.

postggj · 23rd July 2008, 21:21

the common tactic these companies use is
you signed a non canceble agreement as it was done in the show room
my advice would be to never use these sub prime car outfits.
you get stung on the finance let alone the worthless insurance you dont need.
you will end up in a heap of trouble

Hobbie · 23rd July 2008, 21:40

Personally, I'd never use a sub-prime lender, i'd prefer to go without or save up.

But for anyone else in a situation with WCF where you wish to cancel, you have 72 hours to cancel the agreement, even though it has no 'Cooling Off'.

The local "Showroom" hold on to credit agreement until the end of the week (Sunday) before sending them off in one batch on the Monday to the underwriters located in HULL. You have a right under Section 57 Consumer Credit Act 1974 to Withdraw from the proposed agreement, as the agreement has yet to reach the underwriters the agreement is still only proposed and the HP is not registered against the vehicle.

To sum up the above, if the credit agreement has not been executed, then you can invoke S.57 CCA 1974, which enables you to withdraw and return the vehicle to them. No Ifs, No Buts, simply any deposit paid refunded, and the credit agreement cancelled.

postggj · 23rd July 2008, 21:43

hi hobbie

thanks for that
great thing about cag is you learn something new every day

SlinkySailor · 24th July 2008, 02:47

Quote:

Originally Posted by postggj

hi hobbie

thanks for that
great thing about cag is you learn something new every day

Couldn't agree more

SlinkySailor · 24th July 2008, 02:48

couldn't agree more

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