Car finance. What happens next?

kopite248

Hello I recently bought a car last Sunday (6/02/2011) from Arnold Clark. I originally had a car with finance which I traded in. They payed my finance off with left me with roughly £3400 to put towards a new car. On getting the new car ive had lots of problems.

My question is on my agreement I have 14 days from when i signed my contract to cancel. But because I give a car with had finance how does it work if I do cancel?

Thanks
Chris

Apples2

If you cancel the finance agreement within the 14 Days, you will have to pay the dealer the money.

In your case, you can cancel the finance agreement of £3,400 but you would then have to walk in the dealership and give them £3,400 for the car.

Cancelling the finance is not a get-out loophole to return the lemon car.

BugsyBrowne

kopite248 wrote: »

Hello I recently bought a car last Sunday (6/02/2011) from Arnold Clark. I originally had a car with finance which I traded in. They payed my finance off with left me with roughly £3400 to put towards a new car. On getting the new car ive had lots of problems.

My question is on my agreement I have 14 days from when i signed my contract to cancel. But because I give a car with had finance how does it work if I do cancel?

Thanks
Chris

If you have purchased a car from arnold clark,I hope you had the car checked over by a mechanic.

Peelerfart

Arnie Clark have a poor reputation here. I know that's not what you wanted to hear - sorry!

kopite248

They gave me
£8000 for my car
The purchased car was £4500
Finance for original car was £4600

So i was left with £3400
All together i borrowed £1100

Couldnt i give the car back?

CHR15

The car and the finance are separate issues.

You need to take the car issues up with AC

kopite248

I thought that. My only worry is that im going to get the run around.

PNPSUKNET

how olds the car?

kopite248

Its a 2004 Focus C Max. I traded in a 58 Astra.

I had to collect the cmax from scotland and on the way home it broke dwn. Faulty altinator. Now the power steering is not right.

I spoke to the finance company for the cmax and they said that if i withdrew from the finance Arnold Clark would pay them. But do AC have a choice to pay?

PNPSUKNET

must of been a dog car, didnt think AC kept cars on the forecort 5 years or older?

kopite248

Its only done 40K and got ford service history. The fault with steering is a common fault which I didnt know untill I bought it.