[Ugrent Advice Needed!] Cancel a signed HP before taking the car

[xenon1339]

Help needed please! Situation goes like this. I've decided to buy a used car and signed a HP on 27th July at the dealers and was looking to pick it up on 3rd August (£200 deposit paid) (they said they'd ring me to arrange time etc but they didn't, only was told the car is ready when i rang to try to cancel it), however due to personal circumstances i will have to cancel the HP and not to take the car.

 

Rang the dealer they say i cant do it as even they registered me on the car log book, but on my agreement it doesn't state anything like i have signed on premise but with a section "Your right to cancel" saying "once you have signed, you will have for a short time a right to cancel this agreement.. blah"

 

what is more interesting is that on my copy i cant find any date. and that it has not got my signature on but only their's.

 

any advice please?

 

P.S. I'm with Peugeot Financial Services

[sailor sam]

Hi and welcome to CAG.

 

Contact the finance company tomorrow and se what they say. You should have a 'cooling off' period which I believe is 7 days. The finance agreement must have your signature on it otherwise it would'nt be valid. You may only have a written copy but would probably get the proper full agreement direct from the finance co in due course.

 

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[Surfer01]

You shoudl nto have an issue cancelling although you may be liable for a small administration fee. If the finance hosue realise you may no be able to keep up the paymenst, they should cancel it anyway.

Can you imagine getting into arrears and then going to court and telling the court that you tried to cancel before the HP even before started. I don't think the judge would look too favourably on the finance company.

[xenon1339]

You shoudl nto have an issue cancelling although you may be liable for a small administration fee. If the finance hosue realise you may no be able to keep up the paymenst, they should cancel it anyway.

Can you imagine getting into arrears and then going to court and telling the court that you tried to cancel before the HP even before started. I don't think the judge would look too favourably on the finance company.

 

thx for reply, i understand that i might be paying admin fees for cancellation etc, but can the dealer say that the HP is already started because they got the car ready and the log book is now with my name even though i've not collected the vehicle??

[Surfer01]

Car won't be in your name yet as it takes 14 days for the DVLA to put it through the system. I think that you can also cancel the registrationso that it does not show on the V5