Can i Cancel Finance with Welcome Car Finance after a few days?

Mary asked:

Hi, i bought a car from "Welcome Car Finance" and after speaking to members of my family and friends i've decided i no longer want the car as i also feel i'm being slightly ripped off with the amount i have to pay per month and i don't think i'll be able to afford it, anyways i only bought the car on finance only a few days ago, is there a cancellation period that i'm allowed to return the car and cancel the agreement without being penalized heavily?

Reply:

I assume you are in the UK, in which case one of these 2 laws may apply: see http://www.bbc.co.uk/consumer/your_right…
In case you bought over the internet there's a 7 day period where you can cancel.
Otherwise there may be a 5 day period (depending on where you signed the contract with them).

 

Finance your car here onsite if you need help buying one of these beauties :)