This topic contains 2 replies, has 2 voices, and was last updated by Ellie 2 years, 9 months ago.
- 16 April 2015 at 10:50 pm #65652
We are in the process of buying a new car from Toyota on PCP. They have asked us to go and sign the hire purchase finance agreement – the car is due for delivery in about 1 month.
I feel nervous as I expect we should have the right to reject the car etc when we collect it if the new car isn’t right (ie arrives with body work damage or engine failure). The hire purchase agreement has a 14 day withdrawal clause.
My question is when should the finance hire purchase agreement be signed normally – should I ensure it is not more than 14 days before collection?
Much appreciate any advice.
- 17 April 2015 at 12:52 pm #65654
Hi Ellie. In theory, the contract shouldn’t be activated until the finance company pays the dealership (which is usually the day of delivery or the day before), and you have 14 days from then to cancel.
However, I would sign the agreement no earlier than 48 hours before collecting the car. There is no need for you to sign it any earlier than that, regardless of what the dealer may tell you.
- 17 April 2015 at 6:53 pm #65664
Thank you! Appreciate that.