Ordered a car from Arnold Clark on finace. Does this mean I've got it?

Conners2019

Okay so after looking online and acquiring about a second hand audi. I got a phone call and was rushed into accepting the car. I signed a agreement and made a deposit. Does this mean that i have been accepted and its mine now? Im kind of in two minds now

[Deleted User]

What's the problem? Do you want to know if you can cancel?

Conners2019

No well i didn't really think it through. I'm only 20 and can't see how i would of been accepted. I signed the vechicle order agreement i think via email with my monthly payments and paid a £50 deposit to hold the car and need to pay £450 when i show up and trade in my audi a4 3.0 quattro also. I thought my credit score wasn't to good so dunno if this means its mine

parking_question_chap

You were inquiring about the Audi online. You signed the paperwork and it sounds like you have now acquired the car.

Aside from that, what did you think would prevent a 20 year old from being accepted?

Conners2019

My bad my grammar is horrendous. I applied online and had a 20 mins phone call going over details, He sent me a email with a agreement and made the deposit over the phone. Still a but confused. Dunno if it means its mine 100% now

SHAFT

Conners2019 wrote: »

No well i didn't really think it through. I'm only 20 and can't see how i would of been accepted. I signed the vechicle order agreement i think via email with my monthly payments and paid a £50 deposit to hold the car and need to pay £450 when i show up and trade in my audi a4 3.0 quattro also. I thought my credit score wasn't to good so dunno if this means its mine

Sounds like you've bought the car, if you're rejected for finance how do you intend to pay?

Conners2019

Well if im rejected for finace i won't be able to pay for it. This is what i am confused about. I applied for the finace and don't know if that means I've been accepted or not?

Conners2019

I sent them all my details via email for finace, A few hours later i had a phone call asking if i wanted to proceed and i said yes. They sent me a email with a contract to sign and i signed it and made a deposit

SHAFT

Conners2019 wrote: »

Well if im rejected for finace i won't be able to pay for it. This is what i am confused about. I applied for the finace and don't know if that means I've been accepted or not?

But you've entered into a contract to buy the car.

Conners2019

Which stated the monthly repayments etc? Ovb i cant pay 9K upfront

[Deleted User]

Yes but if finance is rejected you are still contracted to buy the car. I'd be reading those documents in detail. Small chance you might get away with pulling out but losing your deposit but who knows what the contact says.

You signed the contract without reading it?