Is there a cooling off on car finance?

carlbcfc

My 19 year old brother got himself an 04 1.2 Fiesta on finance from a Pegeot garage of all places. It has no electric windows, no air con, no bloody mats, has a few scratches, no alloys, and the plastic crap that come with it are scratched. He paid a £600 deposit, and then I think somewhere in the region of £85 over 3 or was it 4 years??

Price on the car was 4k. It is the bog standard edition. I just want to know if there is a get out clause, and what the situation is with the deposit, so I can convince the little !!!!! to take it back.

It is also missing the red master key you need for fords. It also had hardly any petrol in.


Only good thing.......23k on the clock. He got it Saturday.

adamc260

Maybe best to read through the agreement and also be there for any future purchases he makes :S

PNPSUKNET

nope as he bought it on trade premises, he knew the spec also before buying.

molerat

carlbcfc wrote: »

It is also missing the red master key you need for fords. It also had hardly any petrol in.

Seems like a good enough reason to reject it to me, missing the master key that they do not have any more. If the car only came with one key I would go back and thump on the desk for another one.

carlbcfc

Master key is a big one. That will cost, and surely will hinder a sale in the future. They did not explain this too him. I need all the fcats I can get before I can convince him to take it back. It was signed on site, surely only a few days old you can return it somehow?


Thanks for the help so far.

Beast

No - as posted above, there is no right to return.

jonjamie1970

Sounds like Carl he is stuck with it for a while as it sure as hell wont be worth half that right now.
TRy and help him fix the things that are wrong with it, key, mats, paintwork etc and keep it nice. Perhaps keep it for a year or two and at the halfway point on the agreement then he can hand the car back with no penalty.

iolanthe07

There is no cooloing off period for finance agreements signed on the dealer's premises.

molerat

Fords don't have master keys anymore.

BenL

The Parkers data shows

1.25 Finesse 5d 04

Guide Price

View example A car's value is directly affected by its mileage and fitted options, anywhere from £100 to £10,000. Original Price £9,015 Franchised Dealer £3,070 Independent Dealer £2,905 Private Good £2,515 Private Poor £2,055 Part Exchange £2,265 Adjust for mileage and options for an accurate price.
Average mileage60,000 Options fittedNon

The mileage will alter the value upwards a little.

It will have warranty and 12 months MOT I assume.

Yes he should have done some negotiations but the excitement and the salesman will have taken over and the deal done.

All is not bad, should be a nice 1st car, cheap to run and relatively cheap on the insurance.

He'll be wiser next time and its not that much of a bad mistake.

Ben

Malky

Have you ever stopped to think that maybe your brother likes the car? Not a bad choice for someone so young as running costs will be quite low ie fuel and insurance. I get the feeling you're not happy as it's not the kind of car you would want to be seen driving when you borrow it?????