Do I have a cooling off period on a car purchase?

Question

I have signed an agreement and paid a £500 deposit on a new car with part exchange on my old car, I have not yet picked up the new car, I think I was a little hasty and would now like to change my mind, can I get out of the contract and get my deposit back? The car is from a dealership.

Answer 1

You might be able to back out but you definately wont get your deposit back.

Answer 2

If you had opened a bank account with the same amount of money, and changed your mind within the 14 day "cooling off" peiod, then you would get your money back as well as Interest!

It may be the same in this case.

Read your small print.

Regards.

Answer 3

'Have to ask but might lose the deposit>If you haven't taken possession>

Answer 4

if you visited the car dealership to sign the agreement then no you dont have a cooling off period - contact consumer direct or trading standards for sure but generally if you pay a deposit you enter into a civil law contract

Answer 5

Nope, that is what the deposit is for. You lose that.

Lesson learned for the future, never be sold something. Always be a buyer.