PCP Deposit retrieval

[Patchy99]

hi Everyone,

I would really appreciate some help with trying to retrieve my deposit form a car dealer after terminating a PCP agreement for a used electric vehicle, after agreeing it was not a viable option for us.

Thank you

[pt2537]

Hi there

Can i double check please, when did you terminate? was it within the 14 day cancellation period for example? or did you voluntary terminate under the Consumer Credit Act 1974 after paying 50% of the price of the goods?

Sorry to ask but its important we understand the starting point for termination.

Also, what has the car dealer said about deposits etc and have they refused to return it?

[Patchy99]

Hi there and thank you for the very prompt response.

I terminated before the 14 day cancellation period.

I signed the contract on Saturday morning and contacted the dealer to terminate on Wednesday (4 days later) the car wasn't prepared for collection at this stage and was due to be picked on Friday. His exact words in an email were "I’m afraid it’s not quite as simple as this. There is a live agreement, signed contracts and I hate to even say it but failure to take delivery of the goods in the contract would result in a forfeited deposit as per policy and due to the costs that would be involved in unravelling all of this. I need to make some enquiries and will get back to you with a resolution as soon as possible tomorrow".
Needless to say, he did not follow this up the next day and I had to chase and ended leaving work early to go and see him in person, where he continued to reiterate the same stance on the matter. He also suggested an alternative method of putting the deposit towards another vehicle within their dealership which is an option but I don't want to be tied to that dealership anymore, as I feel I was misled and rushed into signing the finance agreement in the first place.
Thanks

[Patchy99]

Hi there and thank you for the very prompt response.

I terminated before the 14 day cancellation period.

I signed the contract on Saturday morning and contacted the dealer to terminate on Wednesday (4 days later) the car wasn't prepared for collection at this stage and was due to be picked on Friday. His exact words in an email were "I’m afraid it's not quite as simple as this. There is a live agreement, signed contracts and I hate to even say it but failure to take delivery of the goods in the contract would result in a forfeited deposit as per policy and due to the costs that would be involved in unraveling all of this. I need to make some inquiries and will get back to you with a resolution as soon as possible tomorrow".
Needless to say, he did not follow this up the next day and I had to chase and ended leaving work early to go and see him in person, where he continued to reiterate the same stance on the matter. He also suggested an alternative method of putting the deposit towards another vehicle within their dealership which is an option but I don't want to be tied to that dealership anymore, as I feel I was misled and rushed into signing the finance agreement in the first place.
Thanks

Hi, please help I would appreciate if you had any more thoughts on this matter. thanks

[pt2537]

Are you able to post up a redacted copy of the settlement agreement?

[Patchy99]

Thanks - please see attached.

[Patchy99]

I think I may have resolved this issue directly with the dealer now, just waiting to hear back from them.