Cancelling New Car Order

[Anto318]

Hi All,

I'm hoping you might be able to help. I've paid a €100 deposit to Skoda last week for a new car on PCP finance. I've been offered a better trade in deal with VW and I'm wondering is it possible to cancel to order of the new car and pull out of the deal?

Is this possible after contracts have been signed?

Any advice you can give would be appreciated.

 

[Leo]

You'll need to contact them, and perhaps have a more sympathy generating story than you found a better deal.

If you signed a finance deal, there should be a cooling off period involved that will let you off the hook.

They are entitled to force you to honour the contract, that is after all the purpose of contracts, to protect both parties from the other changing their mind. You will likely at the least lose the deposit.

Car sales are up, and this is a busy time, so the dealer may have other interested buyers lined up and be more willing to let you off the hook as a gesture of good will.

 

[Anto318]

You'll need to contact them, and perhaps have a more sympathy generating story than you found a better deal.

If you signed a finance deal, there should be a cooling off period involved that will let you off the hook.

They are entitled to force you to honour the contract, that is after all the purpose of contracts, to protect both parties from the other changing their mind. You will likely at the least lose the deposit.

Car sales are up, and this is a busy time, so the dealer may have other interested buyers lined up and be more willing to let you off the hook as a gesture of good will.

Great thanks for the feedback. The SIMI website have this as well:

Q: If I change my mind am I entitled to my deposit back?


A: A deposit is a payment that is made to a retailer by a consumer which indicates an intention to buy a product or a service. The amount of the deposit and the timing of payment of the balance are a matter between the consumer and the supplier. When you pay a deposit for goods, a contract is created between you as a consumer, and the supplier of the product or service. If you change your mind and no longer wish to purchase the product, legally you will be seen as not fulfilling your part of the contract. You are not entitled to your deposit back if you simply change your mind. It will be up to the supplier as to whether they will refund any deposit paid.

Will contact the dealer later today to see what happens. I'm not too concerned with loosing the deposit as long as I can step away from the contract.

Thanks for your help.

 

[Leo]

No prob. Given the pick up in the market, they're unlikely to pursue you. More hassle for them than finding another buyer.