PCP 14 day cool off

Casius1510

Hi have recently taken out a PCP and I know the is a 14 day cool off period. The whole process has been a nightmare and hasn't been nice experience have emailed Vauxhall's over it but am thinking if I give car back what will it do to my credit file I would like a car on PCP but from a dealer who cares 

[Deleted User]

Could you clarify the issue?

Casius1510

Issue has been salesman and car not being ready and we wasn't allowed to test drive it but bully boy tactics used to try charm us not to give bad review I just seeing if we give car back would it have a major adverse on my credit file and has anyone else done this cancelled but took out a PCP else where 

Grumpy_chap

Was it a brand new car?  So, you may have been able to test drive a demonstrator, but not the actual car.

Was the 14 day cooling off period over before the car was delivered?

Was this a remote purchase?

What, actually are the reason for not wanting to keep the car? 
Just a clash with the sales person is unwelcome but not a reason to reject the car.
Or, is it that you don't like the choice / buyers remorse?

molerat

Withdrawing / cancelling the PCP does not cancel the car sale agreement.  Your only option if you don't want to keep the car is negotiation.  If you just hand it back you will likely get stung for all sorts of charges which, if you don't pay them, will lead to all sorts of problems.  If there is something actually wrong with the car that is a different matter.

martinbainbridge1975

when did you sign the finance documents?  correct me if i am wrong but there will be a cooling off period the only thing I am thinking is if you signed them at the dealership its only a 7 days cooling off period

if the documents were signed online and away from the dealers it maybe covered by the distance sale regulations giving a 14 day cooling off period.

depending on if the car is new or used, I sourced my own used car pcp which was 4% lower than the dealers offered.

if you need help sorting out the dealers I will gladly offer some help 

Casius1510

Hi was on line digital signing done so have about 10 days 
Have lodged a complaint with the sales side its brand new but it was issues building up to it waited along time and handover was shocking so not a clue on the car controls even thou asked. I didn't know if handed back would it effect my credit and able to get another PCP with a better dealer. Regards test drive he never gave option to but we didn't push either all brand new this buying a new car the car is fine happy with it but they lobbed on gap insurance very pushy for me to take it out so over all been a very sour experience 

[Deleted User]

Waiting a long time for the car is the current norm.

Handover takes as long as you need it to take, familiarising yourself with the controls/cockpit area is important and until you're understanding everything the salesperson will be there with you, if, when they ask if there's anything you'd like to go over again you say no they can't know any different..... i've just been through this very scenario myself.

Handing it back just because of the above points is overkill really.

Test drives are always offered, some companies accompany, others ask if you're happy doing it alone, not trying something you're paying thousands of pounds for is not really done.

Gap insurance is a sensible option, you don't need to accept their own brand but it's something worth considering for young and/or inexperienced drivers. 

If you're seeing a better deal elsewhere then i think you might be unlucky in cancelling this.

Effects on credit file - no idea, PCP is a secured loan and i don't know how those work here but someone else will.

At the end of the day - you are in control of you.

The_Fat_Controller

I presume you mean the finance agreement was digitally signed.

Withdrawing from the PCP FINANCE agreement COULD mean you have to find another way to pay for the vehicle, depending on how you ordered the vehicle.

How EXACTLY was the car ordered ?

Was it an entirely online purchase, completed off-site or did you go into the showroom and sign an order form ?

Casius1510

Yes have a 14 day cooling off period far as was told its give car back not happy but my concern would be poss effect my credit file but have lodged complaint and will see mag offer some free services etc just may put it dowm to a bad experience with a sales man

MrFrugalFever

You have a 14 day cooling off period irrespective of where or how the finance was signed.

If you exercise your right to cancel, you will owe the finance company the total amount of credit they advanced plus daily interest for up to 30 days or until paid in full.

in short, you CANNOT simply hand the car back and walk away, Vauxhall will be unlikely to be able to de-register the vehicle and as it is a new car, once registered, it would have suffered from an immediate depreciation (approx 20% or more).

Unless there is a fault which cannot be rectified or the sales team has been so neglectful in their process, you are likely stuck with the car for the foreseeable.