Can I Get Out of My New Car Purchase?

IamNotAllowedToUseMyName

Given that you have to get out of ythe deal, I would say cancel the finance and don't collect the car. What deposit did you pay? If you've put £1000 down then they may well decide that the legal costs of getting more out of you aren't worth it.

Also, where was the finance arranged? I'm not convinced that if they have badged it differently but sell it within the dealership it would really count as a seperate deal. I think you need proper advice from CAB (have you tried the national help line or emailing them?)

CHR15

Crikey, there really are people who think the words VAT FREE and O% Interest Free cars really do exist and they are getting cars at knock down prices because of that???

The World really is a strange place.

motorguy

CHR15 wrote: »

Crikey, there really are people who think the words VAT FREE and O% Interest Free cars really do exist and they are getting cars at knock down prices because of that???

The World really is a strange place.

And of course the trick then is, when it dawns on you that you look like a dolt, start lashing out insults and abandon the thread, rather than admit you were wrong.

arcon5

Actually a used car may still be subject to vat. There are however schemes for used car dealers available, one for example whereby you pay hmrc vat based on the profit from the sale.

But vat is of no relevance here! At all!!!!!

motorguy

arcon5 wrote: »

Actually a used car may still be subject to vat. There are however schemes for used car dealers available, one for example whereby you pay hmrc vat based on the profit from the sale.

But vat is of no relevance here! At all!!!!!

Dealers pay VAT on used cars, as you say generally on the "margin" scheme, whereby the pay VAT based on the gross margin between purchase price and selling price.