What happens to my deposit if I buy a car on a finance agreement?

When you buy a vehicle on finance, you are usually agreeing to two contracts depending on the type of agreement you have. The most common agreements include your contract to buy the vehicle, whilst the other relates to the financial agreement to provide you with the funds to make the purchase.

Also remember that whilst a finance agreement has a 14 day cooling off period, this may not cancel the entire deal as you have essentially signed two agreements – one with the seller and one with the finance company – so make sure you check this before cancelling any finance on your vehicle.