Need advice on getting out of finance deal

John-K_3

Lukejhull wrote: »

All i know is no deposit was paid they have prepared car for collection tomorrow, i dont believe it has been explained properly to her anyway which is bad sales

Do not start down this road. She walked into a dealership, agreed to buy a car, and signed an agreement to that effect.

It is understandable that she's had buyer's remorse, and a reasonable dealer is going to let her walk away, but please do not start alleging "bad sales". No-one forced her to waste the dealer's time, you should not now start blaming anyone else while you are politely negotiating your way out of it.

enthusiasticsaver

Read the agreement small print and see if there is cooling off period on it. There certainly is on finance documentation. Go to the manager of the dealership if you have no joy with the sales person your wife spoke to. Is there any other way you can raise the finance to buy the car cheaper - ie 0% credit card? That way if Barclays are willing to cancel the finance under the 14 day cooling off period and the dealer wont care how you pay for it unless she got a discount for using the finance agreement. That seems really expensive for a 6 year old car even with low mileage. Why was the price £500 more than the listed price?

cajef

Lukejhull wrote: »

i dont believe it has been explained properly to her anyway which is bad sales

If you were not there what you believe is irrelevant all you have is your partners word about what was explained by the dealer, if she did not understand she should have asked for more information before signing anything or walked away.

poppasmurf_bewdley

Lukejhull wrote: »

Ive also just called the dealer and he basically said the deals never get reversed if shes signed the agreement so not sure what to do

As you've now told the dealer, he can do things like register the car in your wife's name, apply for road tax for her, etc. All making it more difficult to cancel the deal.

If you had done as I suggested, and cancelled the finance first, the dealer would have known straight away that the deal was a no-go. Now he has the ammunition to make your wife go through with the deal.

I do wonder why people come on here for advice and then do their own thing anyway.

macman

Since no deposit has been paid, your partner can break the contract and then hope the dealer doesn't pursue you for breach of contract . It's rare for them to bother to do this in such circumstances, but you can't rule it out. Most likely they will just put you down as timewasters.
The more important conversation you need to have is with your partner about not signing finance deals without even looking at the APR.

Lukejhull

I asked because its only advice here i dont know you at all you could be giving me terrible advice the dealer already have the money so we cannot cancel as the dealer would have to agree to send the money back

poppasmurf_bewdley

Lukejhull wrote: »

I asked because its only advice here i dont know you at all you could be giving me terrible advice the dealer already have the money so we cannot cancel as the dealer would have to agree to send the money back

So you are going ahead with a bad deal you can't really afford, simply because you don't know us AND don't trust the information you have been given.

So in future, go and pay a solicitor, and don't waste our time by coming on here, ignoring what you are told, and then carrying on with the deal you know is not right for you or your wife.

We on the forum will be laid back about it, knowing that one more mug is walking meekly into the trap laid for him by the dealer, and we'll wait for the next person seeking help, hopefully someone a little more tuned in and who knows that the people on here have helped hundreds, if not thousands, to get a better deal.

Lukejhull

Never said coudnt afford it, just thought if she hadnt jumped in we would of found a better deal but hey ho, your advice coudnt work as the bank had already paid the car company and they wont reverse the payment

PeacefulWaters

Lukejhull wrote: »

Never said coudnt afford it, just thought if she hadnt jumped in we would of found a better deal but hey ho, your advice coudnt work as the bank had already paid the car company and they wont reverse the payment

Nothing stopping you finding cheaper finance and repaying the dealer finance.

bazzyb

poppasmurf_bewdley wrote: »

If you had done as I suggested, and cancelled the finance first, the dealer would have known straight away that the deal was a no-go. Now he has the ammunition to make your wife go through with the deal.

Please read the OP’s posts before responding. They had already cancelled the agreement with Barclays before you had even posted, and Barclays have explained that they (not the dealer) had to repay the funds within 30 days.

The 14 day cooling off period (right to withdraw) applies to the finance only, it does not give them a right to cancel the car purchase.