help!! where do we stand legally with buying this car??

[mad4mybaby]

cutting a long storey short yesterday we signed papers for a brand new car and paid £250 deposit. things have changed overnight and we cant really afford it. we are due to pick it up sunday. what happens if we turn round and say we have to cancel? dh rekons we have to pay a £2.5k restock fee but that cant be legal surely?? dont you get some sort of cooling off period?

bumping

Surely the point of a deposit is that you forfeit it if you go back on the deal? So, you would lose £250.

I really have no knowledge of this though. So bump.

I think you will just loose your deposit - I havn't heard of having to pay that before!

i would imagine you'd just lose your deposit.
can't believe they could make you pay £2.5k

we bought a new car last year and paid a similar deposit, I asked them what would happen if we didn't end up buying the car and they said we'd lose the deposit. I think that is probably what will happen but anything else would be in the documentation on there website somewhere I would guess.