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

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?

Answers:
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).
Most dealers will allow a person to return a car without any penalty simply to provide good customer service.
The fact of the matter is, there is no cooling off period if you go to the dealer with an able mind and body and you make the decision to purchase the car, then you sign contracts. If the dealer went to your house and had you sign the contract, you then would have a 72 hour cooling off period.
Some dealer do allow for a cooling off period for a short period of time, but this is in the contract.

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