Cancelling a used car sale

chokolat2

Hi everyone
Just after a bit of advice

End of last week I decided to buy a car for my parents as a present (on finance and will be paid for by me). this is a used car just under 1 year old. The car was to be delivered to the home address this coming Saturday as a suprise for them
Today I found out that my parents placed an order for a different car, obviously not knowning that I was planning this surprise
They paid for the car upfront so just waiting for its delivery

I am now left with this weird situation. My objective is now to cancel the sale I did, as obviously my parents have chosen their car that they want. I do have 14 days to withdraw from the finance agreement, which I still in time, however that leaves the deal between me and the dealer? i am due to go and see them tomorrow morning, so just wondering what to expect. They still have the car at their dealership
I am not after a refund of deposit, as this is on my part, they can keep it for their troubles and time.
Anyone have any advice?

Thank you

Moto2

Cancel the finance and tell the dealer you no longer have the money in place.
My guess is he'll just leave it at that and keep your deposit.

macman

How much deposit did you pay? As above, the dealer can in theory sue you for breach of contract and their losses, but in reality they'll just retain the deposit.
If bought on site, you have no automatic legal right to cancel just because you have changed your mind.

chokolat2

Hi

Thanks for your replies
Deposit was £500, which isn't that much but still like throwing money away. I would rather do that and be paying £300 a month for a car No one will use

Thanks again

Herzlos

Contact the dealer ASAP and cancel it. You've probably lost your deposit and that's it; they won't have filled in the registration documents.

Or you could keep it for yourself.

chokolat2

Spoken to the Finance company - VW Finance and they stated if I withdraw, I am still liable to pay them the full car price within 30 days, I am just withdrawing from the credit agreement

However, if I want to cancel the whole sale, need to speak directly to the dealership- here right now and waiting to speak to them, we'll see..