Taking a PCP car back to BMW

dz6kb4

Hi all,

I made a big mistake yesterday and bought a car on PCP and drove it home today. The mistake is it just isn't going to be a practical car for the family and the decision was rushed. If I cancelled the agreement in the cooling off period, is there any chance BMW would take the car back for me to buy another one from them?

Thanks.

Ectophile

You can cancel the PCP within 14 days. But they will then ask you to pay for the car.


The problem is that it's now a second-hand car. It was a brand new car yesterday. The only way you are going to get a deal is if the new car is going to be sufficiently profitable for them to take the loss on the value of the existing car.

wgl2014

Maybe, ask them!

You are entitled to cancel the finance but will still need to pay for the car.

Out of interest what model do you have and what would you change it for?

neilmcl

As mentioned, you can cancel the finance without penalty but the car still needs to be paid for. There's no way any dealership, BMW or otherwise, is going to let you swap the car without a significant hit to your pocket.