Bought a car from CarShop with PCP. Can i Cancel?

[Deleted User]

Hi.

Basically, yesterday i purchased a used vehicle from a CarShop showroom, under a (16.9%) PCP finance agreement. I paid a £500 deposit and am due to pickup the car next Saturday.

However i have now changed my mind, as my cousin has offered to sell me his car for a lot cheaper.

Can i cancel the order?

I believe the finance is with Black Horse, and therefore i have a 14 day cooling off period, so the finance can be cancelled.

However from what i have read the actual purchase of the vehicle is a separate agreement with CarShop. I can't see anything on their terms and conditions about cancelling orders.

Can this be cancelled? Has anyone managed to do this?

Thanks.

DUTR

You probably can but be prepared to lose the deposit.

DoaM

If you made the purchase in store then there's no automatic right to cancel (per the Consumer Rights Act 2015 or the Consumer Cancellation Regs 2013), so you'd be dependant on any cancellation rights their T&Cs afford.

You can cancel the PCP finance - but that only cancels the finance contract, not the purchase contract.

AdrianC

SEVENTEEN PER CENT?

Definitely cancel the finance... But as you say, that's different to cancelling the car.

born_again

Best to call and ask if it is a refundable deposit...

Although they should have told you at the time if it was and it should also be in the peperwork.

[Deleted User]

Thanks guys. Called them up, and they just said ok, and refunded my deposit.