Paid deposit for an Audi Q7 on PCP - I want to back out

[Dani.webb]

Friday 20th Jan 2017, I paid £1k for a used Audi Q7 which was in stock, agreement was PCP for 48 months. I have only signed the order form. Having the weekend to think about it, I no longer wish to go ahead with it as paying £710pm is no longer affordable. Will cancelling be straight forward? Will I get my deposit back? Will I inccur any penalties?

[AndStilliRise]

2 days latter you have changed your mind? How come, did you find a cheaper, similar motor or something?

[Dani.webb]

I have gone home worked out my budget and feel £700pm will be a little struggle. I haven't found another, I've just decided to stick to what I already have.

[Jonno02]

My eyes just watered at that amount. Isn't there a cooling off period with PCP?

[Turn7]

Dani.webb said:

I have gone home worked out my budget and feel £700pm will be a little struggle...

You did this AFTER ordering a car that was going to cost you £700/month ??

[SAS Tom]

That is mental! Is a new one even that much?

[Dani.webb]

I have only signed order form, for a used car that was already on the forecourt. I have an appointment tomorrow to sign the finance agreement.

[Dani.webb]

Jonno02 said:

My eyes just watered at that amount. Isn't there a cooling off period with PCP?

I have only signed order form, for a used car that was already on the forecourt. I have an appointment tomorrow to sign the finance agreement.

[Dani.webb]

AndStilliRise said:

2 days latter you have changed your mind? How come, did you find a cheaper, similar motor or something?

I have gone home worked out my budget and feel £700pm will be a little struggle. I haven't found another, I've just decided to stick to what I already have.

[wemorgan]

FYI you can lease a NEW Q7 for 9+23 £450 inc VAT

[Dani.webb]

wemorgan said:

FYI you can lease a NEW Q7 for 9+23 £450 inc VAT

I never knew that at the time of ordering.

[TheLordJohn]

Dani.webb said:

I never knew that at the time of ordering.

You're doing quite well to still be giving answers, lol.
I'd always recommend anyone looking for a 'new' car which is 2/3 years old or less to check their options out with leasing first.

[PJRBell]

Blimey, I've always wondered who bought used cars on extortionate schemes like that.....

Seems the dealers rely on buyers ignorance. Unfortunate to say the least.

I'm surprised someone who uses Piston Heads would get into this sort of situation.

In all seriousness OP I hope you resolve it with the Audi dealer.

[Dani.webb]

PJRBell said:

Blimey, I've always wondered who bought used cars on extortionate schemes like that.....

Seems the dealers rely on buyers ignorance. Unfortunate to say the least.

I'm surprised someone who uses Piston Heads would get into this sort of situation.

In all seriousness OP I hope you resolve it with the Audi dealer.

I'm using Pistonheads for the first time.

[Dani.webb]

anonymous said:

[redacted]

Worst case I'm happy to lose deposit. They can't force me to sign financial agreement or take the car?

[Wilmslowboy]

Ring (and email ) and cancel ASAP before the dealership incurs costs ( such as registering / taxing the vehicle etc)

Assuming it's a reputable dealership, you should get your deposit back (unless they have taxed etc - hence the urgency)
Or they might let you roll it over to another car.

They gain nothing by you continuing with the transaction you no longer want.

[Butter Face]

Wilmslowboy said:

Ring (and email ) and cancel ASAP before the dealership incurs costs ( such as registering / taxing the vehicle etc)

Assuming it's a reputable dealership, you should get your deposit back (unless they have taxed etc - hence the urgency)
Or they might let you roll it over to another car.

They gain nothing by you continuing with the transaction you no longer want.

Yeah this.

But be prepared to lose your deposit. They might want to keep hold of it, just depends on how much you want to fight them.

[Jimmy Recard]

Dani.webb said:

Worst case I'm happy to lose deposit. They can't force me to sign financial agreement or take the car?

Correct, you can't be forced to take finance or pay for the car at this stage

[PositronicRay]

Legally the dealership is only allowed to retain out of pocket costs. i.e. if you'd asked for some new tyres and they'd been fitted.

Not, salesmans time, valet or any other minor stuff.

They'll bh and moan and try to keep the deal in bed, in the end they'll refund. Tough it out.

[Fast Bug]

I can't believe people go out shopping for a car without working out a budget first.