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Cancelling personal contract hire agreement after cooling off period and pre-delivery

Seven months ago I put in an order for a VW Golf on personal contract hire, in the process signing the relevant agreement. I was warned of a six month wait due to the semiconductor shortage, but there is still no sign of the car (and no arrival date) and I’m now fed up of waiting. I am obviously well past the cooling off period but haven’t yet received the vehicle. Can I cancel the agreement without being penalised?

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