car finance

nushy

I went into a dealer yesterday and left a deposit on a car to hold a car and I applied for finance, I was told to come back today to see if I had been approved. When I went in they showed me the agreed deal and the repayments were within my budget so I agreed but I was told that the finance company would send me the forms to sign, they then said I could drive the car away. Now I am wondering whether I might get a different finance deal which I cannot afford, am I legally bound to complete deal or can I return car and walk away. I usually just get a personal loan from my bank but the loan from moto novo was a better rate,

nelly12

nushy wrote: »

I went into a dealer yesterday and left a deposit on a car to hold a car and I applied for finance, I was told to come back today to see if I had been approved. When I went in they showed me the agreed deal and the repayments were within my budget so I agreed but I was told that the finance company would send me the forms to sign, they then said I could drive the car away. Now I am wondering whether I might get a different finance deal which I cannot afford, am I legally bound to complete deal or can I return car and walk away. I usually just get a personal loan from my bank but the loan from moto novo was a better rate,

I smell a rat. Please take my advice and do not take the car away until you have the finance agreement in front of you to read. In normal working practice no dealer would let you take the car away until they have been paid or promise to pay from the finance company. After all you may have lied about your identity! Think logically and don't get emotional. Good luck.