Cancelling Car Finance

I

iandublin2

Registered User
Messages
49
Hi
I entered into a finance agreement last week to buy a car. The finance would be in my name but the car would be registered in my my girlfriends name. However some details have since come to light about the car and we don't want to proceed with the purchase. I signed to waive the cooling off period on the finance form. We have not taken posession of the car and have not signed for the car. Is it possible to cancel the finance at this stage?

Thanks for your help

ian
 
If you haven't taken possession of the car, contacxt the Finance company immediately. Tell them the circumstances of the certain problems with the car. BUT HURRY BEFORE ITS TOO LATE.
 
I would agree, contact finance company as quick as possible

Just purely out of interest, why would you sign the waiver opting out of the cooling off period. What advantage would you gain by doing that? Does it reduce admin fee or anything like that, speed up process maybe?
 
Hi Michael,
Yes he said if we didnt sign the waiver we would be waiting 10 days to get the car. He never informed us that it was a hire purchase agreement. I thought it would be more along the lines of a personal loan. Can the finance be pushed through without us signing for the car?

Thanks again

Ian
 
The finance company will not release the check until they have all documents signed by yourself as the new owner so you should be able to cancle this.
 
iandublin2 said:
Hi Michael,
He never informed us that it was a hire purchase agreement. I thought it would be more along the lines of a personal loan.
Click to expand...

He's obliged to explain the nature of the deal you're getting into. You could report him to IFSRA (or at least let it be known that you might).
 
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