Finance company won't let us cancel - what are our options?
A friend of ours purchased a car on finance a few months ago for us, but the car was faulty so we handed the car back and rejected it. However, the seller told we could not do this.
We have tried cancelling the agreement with the finance company but they have told us we can't either and neither can our friend as the Debtor Creditor Supplier link has been broken. We do not have the car and haven't had the car from the first three weeks since we handed it back to the garage and we have since cancelled all payments for this as we were paying for a car we did not have and no longer wanted after the way we were all treated by the garage.
We have tried cancelling the agreement with the finance company but they have told us we can't either and neither can our friend as the Debtor Creditor Supplier link has been broken. We do not have the car and haven't had the car from the first three weeks since we handed it back to the garage and we have since cancelled all payments for this as we were paying for a car we did not have and no longer wanted after the way we were all treated by the garage.
Asked on 9 January 2016 by Joanne Ure
Answered by
Honest John
That's correct. The Debtor Creditor Supply link has been broken. Basically you bought a car but independently financed it, similar to if you had taken out a bank loan. The deal is between whoever paid for the car and the dealer. You are legally obliged to continue paying off your debt until you can get the money back from the dealer and settle it.
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