PCP-trade second thoughts question kaysteel23


My current car is 2 years into being paid of a 5 year deal to own the car. However the dealership I got that car from had an event which I went to and I have signed up to get a new car (pre-registered) on PCP and trade in my current car.

However I think I was swayed by the salesman into making a rush decision and I am not sure I want to take this any more.

I understand that with PCP there is a 14 day cooling of period where you can cancel the deal from when you get the car, but since I am essentially trading in my current car does this still apply?

The 14 day cooling off only ever applies to the finance part of the deal, it does not cancel the car purchase - when you cancel under the 14 day rule YOU repay the money borrowed direct to the finance company.

Contact the dealer and tell them you don't wish to proceed with the new car purchase and then confirm in writing - this is not an unusual occurrence for dealers.

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