Can I return a new car back to dealership

kat84

Hi can anyone help? I bought a used car from a well known used car place and went there today to sort out the paper work and to collect the car. I was under the impression that my finance was over 5 years but it's now only for 4 years as that's all the credit company can do. Obviously this has bumped up my monthly repayments by about £50 and the first instalment will be nearly £300. After thinking it through with my partner who was with me I thought I would be able to afford the finance. Plus we had made 3 journeys going up there to look and to talk to someone so was just wanting to take the car home as well. When I got home I realised I will need to pay out £488!!! as my insurance will want a lump some of about £140 as this is my first car and insurance. Does anyone know whether I would be able to take the car back as I really am not going to be able to afford this money. I have only bought the car this afternoon and I am wanting to phone the dealership first thing in the morning.

Pew_Pew_Pew_Lasers!

Did you sign the credit agreement on the premises?

kat84

yeah I signed the agreement on the premises.

goldspanners

kat84 wrote: »

When I got home I realised I will need to pay out £488!!! as my insurance will want a lump some of about £140 as this is my first car and insurance. Does anyone know whether I would be able to take the car back as I really am not going to be able to afford this money. I have only bought the car this afternoon and I am wanting to phone the dealership first thing in the morning.

thats a good price for insurance for a first time driver.
unfortunatly running a car is not as simple as just finding money for petrol,there is so much more, insurance and monthly payments are just the tip of the iceberg. theres road tax,servicing,maintenance,when things go wrong ( and they will) then theres petrol and monthly payments......

hewhoisnotintheknow

why did you sign the agreement if you didnt like the terms

kat84

It was only when I got home and worked everything out that I realised it was going to cost me more than I thought.

Keith

So you signed the form in agreement of the terms without understanding them?

hewhoisnotintheknow

kat84 wrote: »

It was only when I got home and worked everything out that I realised it was going to cost me more than I thought.

and if you were the sales man what would you do?

The car is worth a lot less now it has been registered

If i was the sales man i would understand your problem but i wouldnt be very forthcoming with a refund

kat84

I understood the agreement and what I would have to pay, but it was only when I got back home and worked out what it would actually cost me for the first month or so that I realised I wouldn't be able to afford it.

hewhoisnotintheknow

not being rude, but why didnt you do this before?

kat84

Before purchasing the car that I have now from them I was actually due to buy a different car from them and had worked the finance out, which was affordable as the finance was over 5 years. Unfortunatley they were not able to sell me the car in the end due to a problem with it so I ended up looking at a different car(the one I have now). I asked if the if the finance would be the same for this car and was told it would be. When we went through the paper work that was when I found out it was going to cost me more because of a lack of commmunication. They told me it would be about an extra £50 a month on my repayments which I thought I could afford. It was only when I got home that I realised that it was going to cost me a hell of a lot for the first month which I cannot afford.