car finance law

[carefree9]

Hi everyone
I really need your help
I purchased a new car on saturday paid a 500.00 cheque to hold the car and on Monday I cancelled the car I couldnt afford it .The dealer asked me to put it in writing which I did and faxed it through to them asking them to either return my cheque or destroy it they did neither they cashed it and are refusing to refund it fsaying its their out of pocket exspenses .
what can I do
I thought I had a cooling off period

[Roughquest]

Hmmmm, tricky one this, did you sing anything at all - I mean did you even put pen to paper on anything that could be taken as a contract agreement ? Why did you not stop the cheque? Why on earth did you put a deposit on a car you can't afford - surely you must have done the sums first even before thinking about getting a new vehicle ???? Madness.

[buildersmate]

A cooling off period (if there was a chance of one) would apply to a finance deal. Did you complete the request for a Finance Loan on the Saturday, paying a deposit for part of the transaction at the same time?

[carefree9]

The chq was just a holding cheque, as the equity in my car was the deposit. I know I shouldn't have done any of it but to cash a holding cheque that wasn't a deposit??. They also cashed the chq after I had cancelled the agreement. Yes the car was going to be on finance.

[THECORBYLOON]

Under the 1974 Consumer Protection Act, the cooling off period does not apply if the agreement was signed on the supplier's premises.

[mangetoute]

carefree,bad error of judgement,you wont do that again try citizens ad also trading standards,they may be able to help.

[mangetoute]

try this
http://www.tradingstandards.gov.uk/consumers/c onsumers.cfm

[Beanmistriss]

If it was a holding cheque would they not be entitled to cash it. They did hold it for you, just you decided to change your mind. If they hadnt held ithe car all weekend then they could have sold it. I don't know really

[sponsmith]

Not so carefree now eh?