Nissan Qashqai - Cancelling a potential pcp?

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Tue 29 Mar 2022 23:41
Nissan Qashqai - Cancelling a potential pcp? - m.amd
Hello I have a question about PCP. Went into a dealer today set on taking out a HP agreement as I would be free to sell the car and potentially have some money left over, at any point during the agreement. The sales person managed to somehow sway me with the sales pitch and I went for a PCP. I left a small deposit of £250 and was told a credit check would be done by an external finance company. I was also reassured their terms were better than the company I was pre approved for. Well I get home and check wll paper work, turns out the total overs charge will be over £1000 more than my finance provider. I want to know the following:
- what happens if I want to get rid of the car 1-2 years into a pcp agreement which I took out for 48 months?
- if I haven’t got the car and saw no proper paperwork from the potential finance provider, and I haven’t been told I was officially accepted, can I call up in the morning and ask they do not proceed with the application?
What are my rights? I’m also getting ‘cold feet’ as I realise HP was better for me and I stupidly got swayed, very unlike me but it did happen. Thank you
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Wed 30 Mar 2022 07:36
Nissan Qashqai - Cancelling a potential pcp? - mcb100
The Consumer Credit Act gives you 14 days to withdraw from a credit agreement. You have 13 days left to do so.
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Wed 30 Mar 2022 08:43
Nissan Qashqai - Cancelling a potential pcp? - daveyjp

If the PCP includes a substantial deposit contribution you also have the option of completing the PCP and using your own finance to pay off the debt in full. Interest charged will be minimal.

Otherwise as above use the cooling off period to cancel the finance agreement.

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Wed 30 Mar 2022 22:13
Nissan Qashqai - Cancelling a potential pcp? - m.amd
If the only thing I’ve signed is a credit check and I’ve been told I’m accepted, I paid a £250 deposit for the vehicle, but was told I would still have a video call to sign finance documents, can I still get out of PCP without paying back the full amount due at end of PcP term?
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