Cancelling Car finance agreement (24 hrs after signing)

bigspenda_3

Hi all,

I signed a fianance agreement for a 2nd hand car yesterday and won't be picking the car up until tuesday (althought the dealer wanted me to pick it up today or ASAP)

I've had sencond thoughts and would like to cancel the agreement before I take delivery and would like some advice on the best way to do this and what I can expect to encounter.

I havent paid a deposit for the car I'm buying (told a white lie and said I wouldnt the deposit amount for at least a week) or have sat in it, driven it etc since signing the paperwork.

I called the finance house (Black Horse) who advised me to contact the dealer but was also told there was no cooling off period as I'd signed on the Dealer's premises etc.

I called the dealer who advised the finance had been processed but I'd need to speak to the sales person I dealt with who wasnt it until tomorrow.

Do I stand a chance ?

Thanks

bigspenda_3

oops, didnt see the post below this one asking the same question, apologies for the tinned meat

:spam:

standupguy

call the Finance company now and get them to confirm that the documentation has not been processed or the dealer paid out.

Then tell them you want to cancel the deal and get them to confirm verbally that it has been cancelled.

Then ring the dealer and tell them you have cancelled the finance and the deal.

Do not accept the Finance co referrinng you back to the dealer - if there is an issue with them tell them you wish to make a formal complaint that you are prepared to take to the Financial Ombudsman service - that will focus their minds!

bigspenda_3

Dealer advised the paperwork had been processed, I'll re check with BH ASAP

Just had a thought, the Dealer spelt my 1st name incorrectly on the paperwork, I wonder if this has any bearing, My 1st name is Michael but on the paperwork it's spelt Micheal......

Worth a look

ILW

bigspenda wrote: »

Dealer advised the paperwork had been processed, I'll re check with BH ASAP

Just had a thought, the Dealer spelt my 1st name incorrectly on the paperwork, I wonder if this has any bearing, My 1st name is Michael but on the paperwork it's spelt Micheal......

Worth a look

I would not bother argueing that point, it will get you nowhere and will lose you credibility.

bigspenda_3

I was just thinking out loud, ah well I'm stuck with it I guess

My stupidity wins again

sharpy2010

What car is it anyway?

PNPSUKNET

its correct if you sign on retail premises it does not have a cooling off period, your only hope which isnt very likely is that blackhorse dont process the paperwork but dealers normaly fax it accross for execution

bigspenda_3

Thanks all,

Due the wonder of technology the finance was processed on the spot and was processed the same day.

I'll just have to learn from this and never act on impluse ever again

sharpy2010 - It's 2004 Honda Accord CDTI 2.2 Sport

ILW

Pretty good car though.

Captain_Cochoran

Pretty good car though.


That's what I was thinking. Why don't you want it, bigspenda?