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URGENT- paying off car finance early

emylou
emylou Posts: 445 Forumite
Part of the Furniture Combo Breaker
Once you have signed a finance agreement with a car company do you have a cancellation period? Can I take the car today but pay the full amount (from a cheaper loan) within 28 days??
It's with Peugeot if that makes any difference?!
Married my wonderful husband February 2013!:happyhear
I want to wear my beautiful wedding dress everyday- it would make shopping so much more fun, I mean, people go shopping in their pyjamas these days.......
Must STOP spending!!! :)
Proud to be dealing with my debts!
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Comments

  • FelOn_2
    FelOn_2 Posts: 170 Forumite
    emylou wrote: »
    Once you have signed a finance agreement with a car company do you have a cancellation period? Can I take the car today but pay the full amount (from a cheaper loan) within 28 days??
    It's with Peugeot if that makes any difference?!

    So, you can't be bothered to read the T&C's of your credit arrangement?
    Martin Lewis is
    “The UK's Tightest Man”
    – Philip Schofield This Morning
  • FelOn wrote: »
    So, you can't be bothered to read the T&C's of your credit arrangement?

    No need to be rude.

    I think it is law that you have a 14 day cooling off period in any financial agreement -any more than this and it will depend on how nice the lender is (ha!) and be written in the terms and conditions.

    Hope that helps!
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    No need to be rude.

    I think it is law that you have a 14 day cooling off period in any financial agreement -any more than this and it will depend on how nice the lender is (ha!) and be written in the terms and conditions.

    Hope that helps!


    I'm afraid this is not so. For example, if the agreement was signed on the suppliers premises there is no cooling off period at all.

    The OP urgently needs to read the T&Cs of the agreement.
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