Cancelling PCP before it starts

energysaver_3

Guys and Girls,

I have a little problem and would greatly appreciate any help or advice you might be able to give.

Finally bit the bullet on Saturday and paid a deposit on a new car at my local VW garage. Mrs ES and I nogotiated a deal we were happy with and paid a £500 deposit.

The car is already built and in the country in one of VW many compounds so we had no choice or input into specification, although the garage is going to fit an hands free bluetooth phone kit for us as part of the deal.

Now comes the problem. I have just found out that my company has been sold off to a private buyer, and without going into the details too much, I am a little concerned about my future (long term) emplyment prospects. I don't think anything wil happen in the short term (6 months) but further ahead I am not sure.

With that in mind I am thinking that I would be wise to keep my money (we were going to put another £3800 deposit down alongside my old car) and pull out of the deal. We have not yet signed anything other than a 'new vehicle order form', certainly not any finance agreement.

My first question is can I, at this stage, just pull out of the deal? The paperwork (Schedule C) mentions forfeiture of deposit which, although not ideal, would be acceptable, but also that they could recover 'by way of damages any loss or expense' from me.

Realistically I assume worst case this could be registration fees, road tax, bluetooth kit and transport costs and I have no idea how much these could come to.

I'm at a loss what to do. Although I need to think about replacing my car, and really like the one I have ordered, I'm worried that just going ahead with the deal is not the right thing to be doing but am really worried about the consequences of pulling out now.

Any help or advice would be greatly appreciated.

ES

Trebor16

Given your fears have you considered talking to the dealer about the recent developments and how this could affect you in the short to medium term? It may be they could be sympathetic to you and return the deposit in the circumstances, but until you ask the question you will not find out the answer.

That would be the first thing I would do to find out how they stand before having to consider the legalities of the situation.