Mr Whippy
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| posted on 5/1/21 at 04:18 PM |
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Legal BS
Maybe I have been looking at spreadsheets too long today but I can't help thinking this could have been worded (the red bit) rather better...
Do I have to send them at letter to cancel 30 days prior to the final payment is due?
[Edited on 5/1/21 by Mr Whippy]
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coyoteboy
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| posted on 5/1/21 at 04:58 PM |
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I read it as "you need to tell us (in writing) and you have a month from that point, to settle the bill".
[Edited on 5/1/21 by coyoteboy]
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Theshed
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| posted on 5/1/21 at 05:33 PM |
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Surely it is 14 days to exercise the right of withdrawal and then 30 days to pay 'the amount of credit' (that being the money borrowed
tobuy the car I assume). That is the standard cooling off period. So in short you need to tell them within 14 days if you have changed your mind and
if you have repay them what you borrowed within 30 days.
If you have made all the payments I would look at other parts of the agreement to see what you might need to do
[Edited on 5/1/21 by Theshed]
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jimmyd
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| posted on 5/1/21 at 05:36 PM |
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14days to exercise your right to withdraw then 30days to repay the amount borrowed plus any daily interest in that 30day period.
Yeah do work for a finance company.
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Mr Whippy
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| posted on 5/1/21 at 07:20 PM |
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Thanks. Yeah it's to end the finance and hand the car back half way through for something better. Good to have others eyes to sense check.
Cheers
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