Finance new car

cafsta

Hi, just prior to lockdown I was in the process of buying a new car through 3 year finance scheme, using my car as a deposit. I signed a customer proposal form via a photo of signature sent to the salesman, I never actually visited the showroom. Then we had lockdown and everything was put on hold, I would like to know if I am tied in to this deal? I am not sure of this financial commitment now under the present climate, I spoke to someone 2 weeks ago stating I was not sure of my job security now, he didnt know so they are calling me back today. 

MinuteNoodles

You have the legal right to cancel any finance agreement within 14 days. Have you received confirmation of the finance from the finance company?

macman

So are you saying that they currently hold your car as the deposit? It appears that you are well beyond the cooling-off period if signed before lockdown.
I'm not clear from this whether a valid contract was concluded, but, if it was, then you may lose your deposit if you cancel.
However, if no cash (or car) has been handed over by you as a deposit, then it is unlikely that a contract exists. And they would have no means of enforcing it except legal action.

cafsta

Hi sorry for delay, no deposit was paid and I havent handed my car over yet, lockdown stopped everything. I signed a customer proposal form and a form that registers the car to me

macman

So what did they say when they called you back on 7/6?
On the very limited info provided, I can't see that a contract has been formed. But, then, I can't read your 'customer proposal form'.

cafsta

I havent spoken yet  due to call today. I cant copy proposal form over, it had basically my address work info and bank details on it. 

macman

Well, if they haven't called you a week after they said they would, then that suggests that they are in no great hurry to conclude the deal. 
I wasn't suggesting you post a copy of the form on here, I was suggesting that you read it to understand what you have already agreed to.