Terminate hp agreement within cooling off period

Bree_Simz

I signed a hp agreement with the trade centre on Monday 25th May i feel i was pushed into it. However by the next day I knew I had made a mistake. I have spoken with them and informed them I would like to terminate contract within the 14 days. They said this is not how they do business. I contacted the finance company who said that the trade centre would need to email them to let them know. However, it appears the trade centre are using delay tactics. Am I within my rights allowed to terminate contact within 14 days. I have not got the car, I have not even taken it for a test drive. The contact said I have a right to withdraw from agreement under section 66a of the consumer act without giving notice. However The Trade Centre are being difficult. What are my rights.

Aylesbury_Duck

Bree_Simz said:

I signed a hp agreement with the trade centre on Monday 25th May i feel i was pushed into it. However by the next day I knew I had made a mistake. I have spoken with them and informed them I would like to terminate contract within the 14 days. They said this is not how they do business. I contacted the finance company who said that the trade centre would need to email them to let them know. However, it appears the trade centre are using delay tactics. Am I within my rights allowed to terminate contact within 14 days. I have not got the car, I have not even taken it for a test drive. The contact said I have a right to withdraw from agreement under section 66a of the consumer act without giving notice. However The Trade Centre are being difficult. What are my rights.

Do you still want the car?  Is it the car you want to cancel, or just the finance agreement?  I'll assume you don't want the car any more.

Cancelling the finance agreement won't cancel the order for the car, so you'd still owe the dealer the money for the car you agreed to buy.  You need to speak to the dealer to get the order for the car cancelled.  It sounds like you concluded the deal on their premises, so I don't think this qualifies as a distance sale, but others may take a different view depending on the sale process.  What does the contract with the dealer say about cancelling the sale?  Are there any costs would you incur by doing so?  Did you pay a deposit?

born_again

Cancelling the finance agreement does not cancel the purchase. So you will need to find other funding.

Finance even with a in person purchase has the 14 day cooling off period.

You could complain to finance co, advising them, that you are cancelling the finance direct with them. 

Bree_Simz

Thanks for the replies:

Heres an update. The Trade Centre sent back the money to the finance company under the unwind process they also returned my deposit.

I had informed the finance company on Tuesday 26th May that I wanted to withdraw as I said above. Now the finance company who have received all the money back for the car from the Trade Centre are still writing me to make monthly instalments.

I'm not sure if I said previously I have not got the car in my possession and never did. Is what the finance company doing right. I told them more then once I want to withdraw/cancel/give notice and if the full amount has been returned what are they wanting from me. 

Your comments are appreciated.

sheramber

When did the finance company get the money?

Did the payment request get sent out automatically before the system updated?