Car lease cool off period

lfbrown

Hi all, 
I bought a 2019 Hyundai i20 a few weeks ago (collected on 21st January). The financing documents were not completed until 17th February because the dealership had forgotten to complete this at purchase. The car is now stalling irregularly (not driver error, this has been shown by multiple people) and I have completely lost confidence in it. The dealership have tested it and are unable to find the source of the problem, so there is no evidence that this issue is or will ever be sorted. Would I be able to cancel the finance in the 'cooling off period' or did this begin when I received the keys?
Thanks in advance!

facade

What sort of lease is it?

If you have indeed "bought" the car, then cancelling any finance will leave you owing the price of the car.

What you want to do is short term reject the car, and I don't think you can as you are outside 30 days from purchase. You have to let the dealer attempt to fix the problem and fail before you can reject now.

lfbrown

@facade
It's a loan with Hyundai where I traded in my old car and the full balance will be paid off by the end of the agreement. Since the finance was only agreed on Monday, is it only that which I have cancellation rights for?

AdrianC

Cancelling the finance in the 14 day cooling-off period will merely change how you pay for the car you bought, it won't undo the purchase.

You have 30 days from the date of purchase to reject it outright for any substantive fault. But if it was a Hyundai approved-used, then you've got a 30-day/1k mile exchange period anyway.

If you're outside that period, then they have the right to repair. If they can't or won't, then you can reject. This really should be under the manufacturer warranty, though.

Mercdriver

So, not a lease then...

lfbrown

Mercdriver said:

So, not a lease then...

I don't know where the line is, sorry. I have only previously bought cash so this is all really confusing to me!

lfbrown

AdrianC said:

Cancelling the finance in the 14 day cooling-off period will merely change how you pay for the car you bought, it won't undo the purchase.

You have 30 days from the date of purchase to reject it outright for any substantive fault. But if it was a Hyundai approved-used, then you've got a 30-day/1k mile exchange period anyway.

If you're outside that period, then they have the right to repair. If they can't or won't, then you can reject. This really should be under the manufacturer warranty, though.

Thank you for being so clear, it's such a weird situation wrt the financing Vs purchase date I couldn't find the right information

AdrianC

lfbrown said:

AdrianC said:

Cancelling the finance in the 14 day cooling-off period will merely change how you pay for the car you bought, it won't undo the purchase.

You have 30 days from the date of purchase to reject it outright for any substantive fault. But if it was a Hyundai approved-used, then you've got a 30-day/1k mile exchange period anyway.

If you're outside that period, then they have the right to repair. If they can't or won't, then you can reject. This really should be under the manufacturer warranty, though.

Thank you for being so clear, it's such a weird situation wrt the financing Vs purchase date I couldn't find the right information

No, it's quite clear. You had the car, but you hadn't paid for it.

neilmcl

@lfbrown I think you need to check your paperwork and tell use exactly what finance you have, as it seems you currently don't seem to know or understand.