PCP - Rejection

holly_smith123

Hi.
I purchased a new car in May 2019. Due to a number of faults, I rejected the car but the dealership would not accept. I therefore went to the motor ombudsman in September 2019.
They have finally concluded the case and upheld my complaint. I am now able to reject the vehicle (with money taken off for mileage).
However I bought the car on PCP and am not sure how cancelling the agreement will work. Do I lose all my payments and deposit? Can I even cancel the agreement after so long?
Thanks so much 

flashg67

My best guess would be that you'd be clearing the finance rather than cancelling it, by taking whatever you get for the car, and paying the balance you owe to the finance company (the dealer would likely do this for you), hopefully  leaving a surplus for you.

neilmcl

holly_smith123 said:

Hi.
I purchased a new car in May 2019. Due to a number of faults, I rejected the car but the dealership would not accept. I therefore went to the motor ombudsman in September 2019.
They have finally concluded the case and upheld my complaint. I am now able to reject the vehicle (with money taken off for mileage).
However I bought the car on PCP and am not sure how cancelling the agreement will work. Do I lose all my payments and deposit? Can I even cancel the agreement after so long?
Thanks so much 

Speak to your finance co, in fact you should've worked with them in the first place to reject the vehicle, after all it is their car not yours. I'd imagine that the finance will be settled or reversed by the dealer and you should be entitled to your deposit back and monthly payments you've made up to date minus what the dealer will charge you for the usage you've had.