new car purchase - change of mind

popapapa

Hi all!

Last Monday I signed for a new car and part exchanged mine. I am still happy with the deal but I know know that I will move abroad in the summer so my old car would be just fine. Can I cancel within a week without charge? anyone know what a buyers rights are?
I paid £500 deposit

Thank you

jayne26

ring c a b quick smart, i ordered a motorbike and then found that it was a lot cheaper localy , had paid deposit on credit card and c a b said you have a cooling off period poss 7 days but may be more , ring them first thing in morning

popapapa

Glad to hear that. will tell them in the morning. Anybody works for a car dealer?

flea72

i would say you have lost your deposit.

It all depends on how quick they put the order through, once a car is assigned a reg number and registered to a person, the garage will still have to take delivery of the car, but now it will be classed as 2nd-hand as its already been registered. Your deposit will cover that loss in value on the vehicle, and for the time they have put into your purchase

Sometimes, you find a nice garage, who will be prepared to give you your deposit back. But that is the whole point of a deposit. If someone changes their mind, at least the company isnt out of pocket

Flea

iwanttosave_2

I agree with flea, you would most probably lose your deposit. The deposit is not only for them to hold the car but also incase the buyer pulls out

wizard3891

This was a while back but we signed for a new car paid a £500 deposit and then realised that the monthly payment was not really within our means.

It took a couple of phone calls but within a week it was sorted and I got my £500 back

popapapa

The Car Wasn't New But 6 Months Old...would It Still Be The Case?

Thank You

flea72

Well they would most prob still keep your deposit, just for the fact you have wasted their time. Also if depends on when you said you would collect the car, as they would give it a once over, so service, Mot, cleaned, etc., which obviously costs them money, and therefore a very good reason to not be nice, and keep your deposit. it would have been alot simpler if you had realised earlier that you had made a mistake, a week later is pushing it a bit.

But yes, it is easier to walk away from a used car deal, as long as you dont mind losing your deposit

Flea