When you make a big purchase, you will often have something called a ‘cooling off period’. This is where you have a certain amount of time to change your mind about your purchase. This doesn’t have to be a purchase, though it is most seen when making a purchase, but can also be a service that you have arranged.We get asked about cooling off periods from time to time, and the main question we get asked at OSV is ‘do I have a cooling off period before I can receive my vehicle?’. Cooling off period and your rights as a customer can be quite complicated, so we thought it best to write our answer down.In this article, we explore whether you have a cooling off period, what the cooling off period means and your rights as a customer.
OSV Limited is an Appointed Representative of Automotive Compliance Ltd, which is authorised and regulated by the Financial Conduct Authority (FCA No 497010). Automotive Compliance Ltd’s permissions as a Principal Firm allows OSV Limited to act as a credit broker, not as a lender, for the introduction to a limited number of finance providers and to act as an agent on behalf of the insurer for insurance distribution activities only.
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