BMW - Upgrading Nightmare - Steveieb

A friend recently bought a one year old Prestige car from a maindealer and traded in his . ..BMW.

It soon became apparent that the new car had problems and this was confirmed by a local main dealer of the prestige brand.

My friend was offered the opportunity to get the car repaired but asked for his old car back and a full refund.

Unfortuntely his car had been traded on and when he tried to buy it back he realised he would be £4K out of pocket. However the car has now been sold.

So basically he is £4k out of pocket and now has no car and looking for a replacement.

Under the SOGA the dealer has probably complied fully. But is there anything he can do to recover some of the money?

BMW - Upgrading Nightmare - alan1302

Under the SOGA the dealer has probably complied fully. But is there anything he can do to recover some of the money?

No, get your friend to take the BMW back and get it fixed by dealer.

Also -who is the mysterious 'prestige' brand?! LOL

BMW - Upgrading Nightmare - Steveieb

Thanks Alan but the Porche has been returned and a refund issued but the trade in BMW has been sold on hence it is not possible to return my friend to the position he was in before he bought the car.

Hence he is £4K out of pocket !

BMW - Upgrading Nightmare - Auristocrat

Presumably as the Porsche dealer no longer had the BMW to return, the refund should have included whatever part exchange price that was agreed for the BMW.

Edited by Auristocrat on 17/05/2016 at 22:32

BMW - Upgrading Nightmare - RobJP

Presumably as the Porsche dealer no longer had the BMW to return, the refund should have included whatever part exchange price that was agreed for the BMW.

By the sound of it, that is the case. However the difference between the part-ex price for the BMW, and the price another dealer has it up for sale, is £4k.

If that is the case, then no, nothing he can do. He has been put back into the financial position he was in before he changed his car. It is not the dealer's fault that the car is sold, or that the part-ex price was considerably different to the retail price.

Edited by RobJP on 17/05/2016 at 23:19

BMW - Upgrading Nightmare - Steveieb

Thanks for confirming this . When dealing with cars costing , like in this case £60 K its important to move quickly if you want your trade in back otherwise the financial penalties as in this case £4k are high.

But the process of proving the car was faulty and agreement to return the car took too long to secure the trade in before it went off to auction.

I was surprised that the difference between the trade in £12K and resale price £16K was so high.

BMW - Upgrading Nightmare - RobJP

Sounds like one of those (still frequent) cases where the person hasn't really researched what their car is worth, and has ended up getting skinned on the part-ex price.

Five minutes of time on WBAC or other such sites can save a fortune.

Alternatively, as I said, it's entirely possible that the place it's up for sale at is just trying a really high price for the first few weeks. Walking in and (metaphorically) dropping £14k on the table might just get him the car back.

BMW - Upgrading Nightmare - Steveieb

Too late now but the dealer had the car up for £16,200 and was prepared to drop to £16K which was difficult for my friend to accept as he had traded in at £12K after getting no offers from friends.

The car has now been sold for presumably £16K still leaving my friend £4k out of pocket.

Is there any more he can do or has he got to put it down to experience ?

BMW - Upgrading Nightmare - RobJP

Nothing at all, I'm afraid. All he can do is learn for the future, and next time really push on part-ex, or try WBAC or other such sites to get a better price.

As my dad says : It's flat to stack !

BMW - Upgrading Nightmare - oldroverboy.

Too late now but the dealer had the car up for £16,200 and was prepared to drop to £16K which was difficult for my friend to accept as he had traded in at £12K after getting no offers from friends.

The car has now been sold for presumably £16K still leaving my friend £4k out of pocket.

Is there any more he can do or has he got to put it down to experience ?

How is he 4k out of pocket. If he went and accepted a certain price for the car, he accepted it! The selling dealer puts it on the market for what he will get for it. (usually with a good margin) and if someone "bites" at that price, it goes to perhaps cover losses elswhere, or perhaps he has offered a good trade in!

Equally your friend might find a better deal looking around, and there are plenty of porkers for sale of every variety..

BMW - Upgrading Nightmare - brum

Also dont forget the dealer probably serviced it and has to, by law, warranty it for 6 months. You dont know he sold it for 16k. I would have thought 10% off asking price was more likely.

BMW - Upgrading Nightmare - Steveieb

Many thanks for all your contributions.

Just heard another story about a car advertised on Autaotrader that did not exist .

The photo was of another car so the HPI lined up ok. £5k was transferred into a google account and when he turned up to pick the car up no one was there . No redress from all involved.

Moral of the story buy from a dealer !

BMW - Upgrading Nightmare - RobJP

Many thanks for all your contributions.

Just heard another story about a car advertised on Autaotrader that did not exist .

The photo was of another car so the HPI lined up ok. £5k was transferred into a google account and when he turned up to pick the car up no one was there . No redress from all involved.

Moral of the story buy from a dealer !

Morals of the story :

Only buy a car that you have physically seen and had a chance to inspect. Including the VIN, V5 document, all paperwork, and run a complete HPI on.

Only make bank transfers to a UK bank account that a person has had to verify their identity for.

Making transfers to a google account, Western Union, etc. is pretty dumb, and asking to be scammed. Couple that with a car that you haven't actually seen, and the person pretty much deserves to be ripped off. The flaws and risks are well known.

I'll make a small bet here : The car was ridiculously cheap, and the vendor was abroad, or had lost their licence, a desperate seller, etc. So it all appealed to the buyer's greed.

Many years ago I owned a Volvo 850 T5-R which I had for sale, through a magazine advert (1997 I think, so the internet didn't really exist). A man flew down from Peterhead to see it, I picked him up in Manchester. We drove back to mine, where he examined all the paperwork, was happy with it all.

We then went to Midland bank (yes, it was that long ago!), where he had arranged to be able to draw out the money to pay for it down at my local branch. So the money came out from the cashier and was handed directly to me, and I paid it straight into my account through the same cashier.

A friend bought a Range Rover the same way about 5 years ago. Arranged with Nationwide that he could draw out £12,000 at a particular branch, on a particular day. Went to see the car, did the HPI, etc, went with the vendor to the branch after agreeing the price. The money was drawn out and the vendor went down the road to their bank and paid £10k of it straight in. Again, no risk at all.