Think I've made a huge mistake on 2 PCP cars

[Sfx123]

Please don't judge me as I've felt undera great deal of pressure recently and must be why I've made a huge mistake.

 

I went into a used car supermarket on Saturday. Took a car for a test drive, agreed to verbally but the car if the deal matched up. It was getting late in the day (almost 9pm) and the finance companies were getting ready to close so it was agreed I should come back the next day or later in the week to finalise everything.

 

I'm still not sure what I signed apart from agreeing for credit searches. Know that sounds stupid but the searches that were going to be made were on the basis of PCP. A 3 year warranty package and a few extras including paint protection were going to be factored in also. I kept seeing signs stating 14 day no quibble money back guarantee so at no time did I feel too worried. 

 

To be honest until I have spoken with the dealership later today (Car Shop) I still don't know what I signed and again I accept that is very silly indeed but was just thinking about the reassurance of 14 days if I changed my mind. I couldn't go back the next day as had some personal issues and 5 days later still haven't been back and to be honest just thought I would leave it.

 

On the Monday (2 days ago now) I found another deal at Bristol St Motors online that looked better. To cut a long story short the salesman on the telephone persuaded me that a new version of the car I was looking at would be a better deal. It seemed more attractive than the other car I had looked at in the car shop. I didn't once go into the showroom by the way for Bristol St Motors.

 

While on the telephone I agreed on principle that yes the deal sounds very good and I thought yes I will go with this and during the conversation (after a call back) the sales person kept saying I just need to send you some documents through and please can you send me a pin number to confirm you've received them.

 

This is the second nightmare scenario.

I wasn't aware I was e-signing each time full agreements to purchase the car. Although I paid £500 to reserve the car over the phone and to buy the car on PCP I still thought I would get to see all the paperwork first before 100% committing but now looks like I may have bought 2 cars on PCP using my existing sole car as px for both..

 

This is a nightmare scenario and I don't know where to start or what to do.

 

 

 

[dx100uk]

simply write to each and tell them to cancel .

most certainly the one over the phone you can under distance selling regs (now part of the consumer rights act), cancel the whole thing and get your money back (how did you pay by debit card, hope it wasn't just bank BACS transfer?)

 

the 1st one, could be an issue as some on site signed agreement wave the above protection, but as you say there were signs saying 14days no quibble, you should be ok.

 

next time go away and think about things and don't be scammed by false pressure to sign anything, finance is 24/7 in this day and age and sales people use all kinds of tricks to force a sale to pocket their commission.

 

dx

 

 

 

 

 

 

[Sfx123]

Hi. Thanks so far. I've emailed Bristol St Motors and requested cancellation and a refund of my £500 deposit under distance selling regulations and cancellation of the PCP agreement. Asked for a call back today.

 

The other car was a used one at The Car Shop where I was actually in the showroom and so I know the distance selling element won't apply although I am not sure here exactly if the finance element was finalised. I am sincerely.hoping not. They advertise a 14 day money back guarantee on the cars but I am not sure if it includes things like paint protection.

I am also not sure about the PCP element on both deals.

 

 

At the worst case scenario I could stomach having to keep one but both would be potentially bankrupting and extremely stressful.

[Sfx123]

I sent a strongly worded email to Bristol.St Motors and to be fair to them.they have responded quickly and fairly which I am extremely relieved about.

 

Explained to the manager that I didn't expect to have to pay so much over the term and didn't have things explained to me properly. He's confirmed that for now he will cancel the sale and the finance and return my deposit. Now I need to think about whether I will go ahead on the other (slightly) used car at the Car Shop. 

 

The e-signature element with Bristol St Motors, as part of the over the phone & distance selling experience has left me with a very sour taste though. I had no idea each time as per the salesman's request that I sent him a code back after receiving a text message that I was actually signing contractual agreements. Didn't realise I had done that until many hours later. 

 

In terms of the "purchase" inside the showroom, I'm not entirely convinced the finance application was competed at The Car Shop and so I may be able to withdraw but not sure what I signed (ridiculous thing to say I realise). If I can get out of that one too I think I will.

 

The balloon payments, interest, add ons like paint protection and warranty aren't just "a few pounds per month" like the sales patter suggests. These add up to eye watering amounts of money when you see them in black and white. And then on PCP the final payment to boot.

 

Thanks for any help so far.

Edited August 25, 2021 by dx100uk
Bad grammar. Format

[dx100uk]

Glad you are sorted

yes drop both

 

buy from a local dealer too!

 

there is a guide up top read that

 

Dx

[Sfx123]

Tbh the way I feel right now, if I can get out of the other purchase too think I'm just going to keep mine with 100k on the clock until it's done 200k and spend a grand doing it up.

I've always thought of myself as relatively savvy and aware but clearly I made some huge amateur mistakes here. 

I actually bought my other car brand new (Dacia) and it was the cheapest new.car on the road at the time and bought it in 2014 with most efficient engine which is still tax free and gives me 55mpg all day long. 

A few dashboard warning lights made me panic hence the silly moves.

When I bought it new I point blank refused any extras whatsoever and paid just the car absolutely nothing else.

This time my guard was well and truly down.