HELP : how easy to back out of a used car deal
Discussion
Hi, I signed an "order" for a used car yesterday and left a £100 deposit.
The balance is in the process of being arranged through finance company affiliated with dealer.
Overnight I've had second thoughts...post purchase research but it looks like year and specific model are plagued by expensive problems....stupid I know....but I now feel like I've made a hasty, badly researched choice.
I also noted that the mileage stated on the order is about 20k higher than that advertised on the website, low mileage was one of the reasons I viewed the car, so annoyed at this also.
How straightforward is it to back away from this deal. Prepared to lose deposit and put it down to experience.
Going to phone dealer this morning but any advice in advance would be helpful.
Ta
The balance is in the process of being arranged through finance company affiliated with dealer.
Overnight I've had second thoughts...post purchase research but it looks like year and specific model are plagued by expensive problems....stupid I know....but I now feel like I've made a hasty, badly researched choice.
I also noted that the mileage stated on the order is about 20k higher than that advertised on the website, low mileage was one of the reasons I viewed the car, so annoyed at this also.
How straightforward is it to back away from this deal. Prepared to lose deposit and put it down to experience.
Going to phone dealer this morning but any advice in advance would be helpful.
Ta
king responsibility for your actionsFubar1977 said:
Typically harsh, arsey PH response 
But also most likely correct.
If you signed a finance agreement with them for it however you may well be out of luck, sorry OP.
To be fair they were just verbalising how I was feeling anyway :-)But also most likely correct.
If you signed a finance agreement with them for it however you may well be out of luck, sorry OP.
None of the paperwork I have in front of me has a signature on it bar the order form....so should be ok.
In any event, you would have a cooling off period within the finance agreement of c 14 days. Ok, so you'd be out for more in the way of financial penalties to the dealer but given nothing has been signed, you're just out of pocket for the deposit.
Lesson learnt. Not sure it warrants having that pointed out though.
Lesson learnt. Not sure it warrants having that pointed out though.
Why say bye to the deposit?
There is no such thing as a Non-refundable deposit, especially where misrepresentation (mileage difference by 20000) is present. Go talk to them, if the car has had the problem areas rectified then there's less of an issue.
I would want some money knocked off final price in line with the mileage.
Whilst I can understand your predicament it really would do well to check things like this before handing over any cash. All of the information regarding the faults was available prior to viewing and obviously the mileage is in front of you on test drive. No excuses really.
There is no such thing as a Non-refundable deposit, especially where misrepresentation (mileage difference by 20000) is present. Go talk to them, if the car has had the problem areas rectified then there's less of an issue.
I would want some money knocked off final price in line with the mileage.
Whilst I can understand your predicament it really would do well to check things like this before handing over any cash. All of the information regarding the faults was available prior to viewing and obviously the mileage is in front of you on test drive. No excuses really.
Spuffington said:
In any event, you would have a cooling off period within the finance agreement of c 14 days. Ok, so you'd be out for more in the way of financial penalties to the dealer but given nothing has been signed, you're just out of pocket for the deposit.
Lesson learnt. Not sure it warrants having that pointed out though.
AgreedLesson learnt. Not sure it warrants having that pointed out though.
Tell them you have changed your mind you will no doubt ruffle feathers but that's a lot better than having to pay for years for something you don't want. Tell them quickly mind before any more time / money is wasted
Not sure where you stand with the deposit, but...
http://en.wikipedia.org/wiki/Buyer's_remorse
I would be hacked off with the 20K mileage discrepancy though, maybe a leverage point re deposit?
http://en.wikipedia.org/wiki/Buyer's_remorse
I would be hacked off with the 20K mileage discrepancy though, maybe a leverage point re deposit?
Spuffington said:
In any event, you would have a cooling off period within the finance agreement of c 14 days. Ok, so you'd be out for more in the way of financial penalties to the dealer but given nothing has been signed, you're just out of pocket for the deposit.
Lesson learnt. Not sure it warrants having that pointed out though.
I don't think you do if signed on trade premisesLesson learnt. Not sure it warrants having that pointed out though.
You'll probably get your cash back.
If not am sure you could make your finance app fail (your purchase is subject to finance right?...).
if you don't get your deposit back then:
A) you've probably spent £100 on a night out before and nothing to show for it so use the same logic; and
B) its a cheap lesson if you learn from it.
If not am sure you could make your finance app fail (your purchase is subject to finance right?...).
if you don't get your deposit back then:
A) you've probably spent £100 on a night out before and nothing to show for it so use the same logic; and
B) its a cheap lesson if you learn from it.
OP, you've had a touch of buyers remorse and it's been lucky you had-20k mileage discrepancy is a massive difference and while it may be a genuine error, well it may not be as well. Not all dealers being overly burdened by scruples after all.
Cite that as part of your reason for cancelling. You are not the first chap anyways to go away and think of a deal, and decide it's not for you. In the showroom the tactics are often to draw you away from the bones of the deal, and just get you signed up as soon as possible. Hence why the salesman is trying to be your long lost best pal, then as soon as paperwork is in front of you its onto a new set of tricks, like clicking the top of the ballpoint pen, as it subconciously adds impetus to sign the paperwork. In short you are in their comfort zone, and it's what they do all day every day, so the deck is stacked against you from the start.
Oh, and you will get your deposit back. As for the finance, of course it has a cooling off period. If they try it on, like trying to keep the deposit for the night out beer fund, dont settle for it, as they are monitored by the FCA these days, and one letter to them would really upset the sales mangers day.
Disclaimer: not all used car salesmen are tossers. But many are.
Good luck OP.
Cite that as part of your reason for cancelling. You are not the first chap anyways to go away and think of a deal, and decide it's not for you. In the showroom the tactics are often to draw you away from the bones of the deal, and just get you signed up as soon as possible. Hence why the salesman is trying to be your long lost best pal, then as soon as paperwork is in front of you its onto a new set of tricks, like clicking the top of the ballpoint pen, as it subconciously adds impetus to sign the paperwork. In short you are in their comfort zone, and it's what they do all day every day, so the deck is stacked against you from the start.
Oh, and you will get your deposit back. As for the finance, of course it has a cooling off period. If they try it on, like trying to keep the deposit for the night out beer fund, dont settle for it, as they are monitored by the FCA these days, and one letter to them would really upset the sales mangers day.
Disclaimer: not all used car salesmen are tossers. But many are.
Good luck OP.
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