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VW finance cancellation

chokolat2
chokolat2 Posts: 438 Forumite
in Motoring
Hi.

Based on some emotional decisions , I went out and bought a VW Touran today!
Now home, I am in some doubt in terms of affordability...and just want to see my options. Should of done this before I know!

The car is on finance on a PCP plan, I know I have 14 days "cooling off" period, however I have not yet taken delivery of the car - plan is to get it delivered to my address next saturday!
Is it too late to stop everything? Just thinking I should wait a bit...save up and have more of disposable income..
I have already signed the dealer paperwork and finance today..


all advice appreciated.

Comments

  • motorguy
    motorguy Posts: 22,623 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 17 October 2015 at 6:47PM
    chokolat2 wrote: »
    Hi.

    Based on some emotional decisions , I went out and bought a VW Touran today!
    Now home, I am in some doubt in terms of affordability...and just want to see my options. Should of done this before I know!

    The car is on finance on a PCP plan, I know I have 14 days "cooling off" period, however I have not yet taken delivery of the car - plan is to get it delivered to my address next saturday!
    Is it too late to stop everything? Just thinking I should wait a bit...save up and have more of disposable income..
    I have already signed the dealer paperwork and finance today..


    all advice appreciated.

    Hmmm.

    You've signed an agreement to buy a car, and you've signed a finance agreement.

    Firstly, i'm not sure you've a 14 day cooling off period if you signed the finance on the dealers premises?

    Also, if you cancel the finance, then how are you going to pay for the car that you've just signed to purchase?

    Technically, if you cancel the dealer could try to recover any costs he may have incurred from the cancelled sale
  • Moto2
    Moto2 Posts: 2,206 Forumite
    you can cancel the finance but not the car order

    However, without the finance deal, the dealer may well think the the car deal isn't worth pursuing.
    Change is inevitable, except from a vending machine.
  • Le_Kirk
    Le_Kirk Posts: 25,875 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    chokolat2 wrote: »
    I know I have 14 days "cooling off" period.............
    If the paperwork states you have a 14 day cooling off period then you do, so invoke it, if it does not state that, then, as suggested above, you cannot cancel. Read the papers thoroughly.
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