Paid deposit on car but finance company a problem

[isthismyname]

Hello, would really appreciate any advice you can offer.

 

We have had car finance agreed and paid our deposit to a garage but having spolen to the finance company today I am very concerned.

Our first approach to them was via a broker firm and we were accepted etc. We had to re-apply directly to them as their offer 'ran out' whilst we were on holiday. We have now been into the garage and signed the contract, paid deposit and so on (last weekend).

I called the finance company on Monday who told me they still needed further info from the garage and they would organise this; I called again today and was told that "the Brokers are dealing with it as you came through them so you'll have to speak to them."

I called the brokers: no idea what I'm referring to.

Called finance company back: 'don't worry, well get it sorted'

 

I'm a bit concerned that this is turning into a nightmare. If I needed to cancel this agreement does anyone know where I would stand in relation to the garage? Would they retain a percentage of the deposit as they've been holding the car for a week now?

 

I would be really grateful for any advice. Thank you.

[silverfox1961]

Hi and welcome to CAG.

 

As far as I am aware, if YOU cancel the agreement, you could lose all of your deposit (some places offer deposit back guarantee).

 

If they refuse finance then you should get a full refund of any deposit paid.