Car higher purchase agreement

27col

adbee83 wrote: »

Haha of course it is.

I thought it was higher, as the interest is far higher than they originally told me lol

Actually, with the high interest rates charged nowadays, it's an understandable mistake.

sparkles12_2

Hi guys

Just wondering if anyone could give me some advice - I just bought a car from my dealers with car finance and i put a 2k deposit off to keep the costs down - I received the car finance agreement today which says i have the right to cancel 2 weeks from the date of the agreement.

The car i selected has a 1 litre engine , struggles on hills ,its a petrol car but sounds like a disel and i hate disel engines - I took it back to the dealers 8 days after getting the car and they discovered the waterpump is faulty and needs replaced so i am waiting for it to be ordered , the wheel allighnment was badly pulling to the left and today the right hand elecrtic mirror is stuck/ I wont dare touch it as its stuck and i dont wan it to smash if i mess about with it - The car was Network Q approved before it was sold so i cant understand how these things were not noticed.

The car is 4 and a half years old but the sound of the 1 litre engine is driving me insane as i hate disel engines - I have had a chat with the dealers and the sales guy has been understanding but i dont want the car now and want one with a better engine that doesnt sound like a disel - I told the dealer i would even take a car at a higher cost - so far they are working with me which is great -

The date on the finance agreement is the 16/01/12 and that i could cancel 2 weeks from the date given on the agreement - The dealer told me im going to lose a lot of money doing this and im wondering is the right - Can i bring the car back to the dealers on Monday and return the car and cancel the agreement - and start again - will i get my 2k deposit back

Dealer has been good so im not knocking them at all - but im just worried i will lose thousands or my credit rating will be trashed - The dealer is happy ( I think) to make an exchange for the car for another one they have for sale - but said it will be an expensive change over

Im due to meet them on Monday to discuss things and need help so i know what im talking about or that i dont get myself into something costly when their may have been another way out - I think the dealer was talking about a part-exchange or something but i havent a clue can anyone advise me

Apples2

sparkles12 wrote: »

Hi guys

Best to start your own thread rather than take this one off on a tangent.

Cancelling the Finance Agreement within 14 days is not the same as rejecting the car.
You have already purchased the car, it is now yours, the V5 has been updated with a further owner.

The option to withdraw from the finance agreement is just that, withdrawing from the finance only. If you do take up this option, you will have to pay the full amount for the car so you need to have the money available.

If you have issues with the car, you need to resolve it with the dealer, it is completely separate from the finance.

To opt out now will cost you. Your car will not be worth anything like the money you spent on it (even though it was so recent). You have added another previous owner already so it's value has reduced.