Advice needed - can I cancel a car purchase

Advice needed - can I cancel a car purchase

Postby Big Dog » Mon May 15, 2017 8:50 am

Odd one here guys but wondered of anyone might have some relevant advice.

I need to free some money up as I'm moving house, so decided that I'd sell my car and buy a lesser vehicle and put the difference into the house. Found a dealer who would buy my current car for more than the car I'll buy from him. So I'll give him my car and he'll give me a ford focus and cash. Agreed on figures last Saturday and did the paperwork. Didn't need to leave a deposit as my car is worth 8K more than the one I'm buying so the dealer will be giving me cash and not the other way round.

All was going well until I found that my partner isn't best pleased with my decision - oops!!!! Am I able to ring the dealer and cancel the deal, leaving me to keep my current car and leaving him with the car I was going to buy and the cash that he would have been giving me.
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Re: Advice needed - can I cancel a car purchase

Postby Blackbaronfish » Mon May 15, 2017 9:05 am

Lots of ifs and buts.
What does the paper work say?
Is there a cooling of period?

You may find he will take the car back and add extra costs :o
Good luck

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Re: Advice needed - can I cancel a car purchase

Postby Big Dog » Mon May 15, 2017 9:19 am

Haven't done the change over yet, not due to swap cars until the end of the week. Not sure if there was a cooling off period as I'm not actually parting with any cash.
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Re: Advice needed - can I cancel a car purchase

Postby Blackbaronfish » Mon May 15, 2017 9:31 am

What have you signed?

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Re: Advice needed - can I cancel a car purchase

Postby Mason » Mon May 15, 2017 12:10 pm

As your transaction has not actually taken place yet, ie. vehicles and money being exchanged, the paper work that you have signed could be regarded as agreeing to the deal in principal only, until such time that it actually takes place. This eliminates any misunderstanding during and after the sale as you have a prior agreement as to how the transaction will proceed, before the point of sale. (And kiss goodbye to any cooling off period after it)
If your current car was devalued for any reason in the interim period, the dealership certainly wouldn't go ahead with the deal without a revision, if at all.

So I would argue that you are unable to make the transaction that you, (we) agreed in principle, because personal circumstances have changed and it is no longer possible to go ahead and enter into a transaction with the vehicle. (No need to tell them why).

That being said, you should never enter into any agreement that you do not fully understand; if it is a binding agreement, this should have been pointed out to you as matter of course, before you signed. READ the terms and conditions before, not after signing.

I hope this is of some help, after all you have nothing to lose by notifying the dealership of your intention not to proceed, other than feeling a little awkward and maybe a little embarrassed.

Good luck!
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Re: Advice needed - can I cancel a car purchase

Postby 143granville » Mon May 15, 2017 6:37 pm

read the paper work very care fully .
good luck .
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Re: Advice needed - can I cancel a car purchase

Postby Mason » Mon May 22, 2017 11:42 am

Big Dog, how did you get on? :arrow: It would be interesting to know.
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Re: Advice needed - can I cancel a car purchase

Postby Big Dog » Sat May 27, 2017 10:09 am

Mason wrote:Big Dog, how did you get on? :arrow: It would be interesting to know.


Hey guys, apologies for not updating sooner, I've not been too well, ongoing med issues. Spoke with the car dealer and was able to cancel the purchase. As he was buying my car for more than I was buying his and he effectively owed me money with no deposits having been taken on either side, I was able to cancel the deal. He was pretty good about it I'll be honest. He was very helpful and I'd definitely shop there for a car again. My other half has now calmed down and in the meantime, we're still looking for another car, but something much cheaper to buy and run so that we can get more back on our current car - we're trying to free up money so that we can move house. Hope she doesn't look in the gun cabinet, I may find that I'm required to sell a rifle or two as well!! :shock:
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Re: Advice needed - can I cancel a car purchase

Postby Mason » Sun May 28, 2017 1:36 am

I'm glad it worked out for you :D
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