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Ash
Ash, Solicitor
Category: Law
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Experience:  Solicitor with 5+ years experience
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I SIGNED A 'NEW VEHICLE CONTRACT' BMW (WITH A BMW DEALERSHIP)

Resolved Question:

I SIGNED A 'NEW VEHICLE CONTRACT' FOR A BMW (WITH A BMW DEALERSHIP) ON A PCP AGREEMENT ON 07/07/2015. I PAID A DEPOSIT OF £1000. I WOULD LIKE TO WITHDRAW FROM THE DEAL (CAR DUE FOR DELIVERY ON 01/09/2015. WHAT IS MY POSITION?
Submitted: 1 year ago.
Category: Law
Expert:  Ash replied 1 year ago.
Hello my name is ***** ***** I will help you with this.
Does it say you can cancel or deposit refunded on the contract please?
Customer: replied 1 year ago.

No

Expert:  Ash replied 1 year ago.
When did you sign it and when did you try and cancel?
I assume you signed on premises?
Customer: replied 1 year ago.

Signed on 07/07/2015 on premises.

Phoned to cancel on 14/08/2015. Cancellation refused.

Expert:  Ash replied 1 year ago.
It's bad news I am afraid, under the consumer contract regulations If you sign off premises you have 14 days to cancel. If you sign on premises you don't have a right to cancel. As you have applied for PCP you have a 14 days to cancel under the consumer credit act.
Sadly this has also elapsed and as such you are not entitled to cancel as such. However you need to check the contract as you may be able to cancel and just lose your deposit, but it appears that won't be refunded.
I am sorry if this is not the answer you want and certainly not the one I want to give you, but I have a duty to be honest.
Can I clarify anything for you about this today please?
Alex
Customer: replied 1 year ago.

The PCP signed was a 'Pre-Contract Credit information proposal form.

Expert:  Ash replied 1 year ago.
Ok but you still are not within any cooing off period. You can only cancel the credit, not the orders sadly.
You need to look at the terms to see if it's a cancellable contract but I think you will lose the deposit.
I am sorry.
Alex
Customer: replied 1 year ago.

If I cancel the proposed credit - then the car order is the deposit (£1000) the most I will be liable for?

Expert:  Ash replied 1 year ago.
Yes sadly you would unless the contract says otherwise.
Does that clarify the position?
Alex
Customer: replied 1 year ago.

Thank you Alex W. I may be liable for other losses they may incur on a resale of the vehicle.

Expert:  Ash replied 1 year ago.
Depending on the contract yes. But check the terms, this sets out when it can be cancelled etc.
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