Paid car off - finance still not settled

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Thu 15 Sep 2016 23:18
Paid car off - finance still not settled - westerveld

Long story; we bought a car, not seen the car from the dealership but test drove another. Load of messing around with V5 forms and the like before we got the car, delivered. Finance was a bit of Neg equity from a trade in and then the car purchase, we put £2k in too.

We were then owed some money from a part payment of the old HP agreement we had, but that was going onto the card on delivery day (27/8). Then became cheque, then was finally received today........


Anyway - wife hated the new car and it was high cost too. So I called up after it had been delivered asking to return, if we could unwind etc. Email said it was a possbility, but no response, email back and forth, and calls before we ticked over to new reg month.

Anyway; after two in person visits to the garage, and countless emails, lack of replies and slow moving business - I went in to resolve everything - they offered me £3,5k less than I paid for it too, then with negative equity etc, I had to settle up £5,6k to finish off - an expensive 10 days...... They'd not be able to put the car back up at the price I paid etc etc. Another owner etc etc.

Anyway; once that is all sorted, I had confirmation on my way out that the finance would be settled that day and likely clear by last Friday, but at the latest Monday. Paid my money on the card and departed, leaving the car, first payment comes out at the month end, so I was pleased that I'd managed to escape that.

They did mention that they'd try get the interest and associated costs back, and had hope they could do that given the short length of the agreement, and would speak to the area manager about it....

Wondered last night (as one does) that I'd not had any notification of clearance yet, and couldn't log in with my details online, so called up to check the situation; they haven't cleared the finance and nothing in the holding accounts with the finance company either.

Checking online, the car is back up for sale! At the price I paid too. Remarkable.

That aside; what's the situation? Finance co told me they may be waiting until the settlement figure expires (6th Oct) but even then - that's not right? Is it? How can they list a car with finance on it?

1st payment comes out month end and I don't want that to come out, given we had the car barely no time at all and I've paid my money to the dealership to have them settle the finance.

They assured me it'd be settled straight away otherwise I wouldn't have necessarily paid up there and then. We're still to get the V5 too....

Any advice? I emailed as told I'd have a response today; I haven't had one.

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Fri 16 Sep 2016 11:45
Paid car off - finance still not settled - Falkirk Bairn

Phone the HP Company ?- did you pay the HP Company or the garage

with your debit card?

If you paid the dealer the question is has he sent off the money to the HP Co......that's the worry!!!

Sounds a dodgy dealer?

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Fri 16 Sep 2016 21:55
Paid car off - finance still not settled - TheBroker

Hi there,

It looks like you are in a bit of a sticky situation.

A few questions to find out what is what.

1) I presume the car was not new?
2) You mention you did not tet drive the car your bought but a similar one?
3) Was any of this done at arms length / over the internet or was it all done at the dealership?
4) How long ago did you sign up and then notify of wanting to reject?
5) Why did you want to reject the car?

The reason for asking these questions are that you 'may' have a legitimate out if the car you received did not match up to the car you test drove in some way.

If at arms length and within 14 days you could possibly just wind up the contract and cancel it under the 'cooling off period'

With regards to what the dealer offered you for your car, this is their perogative and yes it looks like they have done rather well out of it.

Without all relevant info I cannot give much more help but you may have an out, call up the finance company sharpish and see what can be done as if was done at arms length then under the distance selling regulations you have 14 days from point of signing as a cooling off period to change your mind. Also check everything they promised re the finance was correct as you may have a course for action if they mis-sold to you - just threated FCA, they will panic if they have anything to worry about.

Good Luck and if you need any more help let me know.

Regards,

TheBroker

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Sat 17 Sep 2016 15:33
Paid car off - finance still not settled - westerveld

1) Used.

2) We test drove a new one, as this car was at another dealership, it then arrived but we were unable to pick up twice due to a lack of paperwork, I signed on premises (when picking up a courtesy as I took my traded in car). I didn't get any paperwork however, the car then was delivered to premises the following week where I signed paperwork for delivery etc. (still no V5).

3) Only arms length was delivery forms etc, I did ipad sign in dealership sadly, they were going to send forms which I wish they had!

4) We signed up on the Weds (finance electronically) and car arrived following Mon, I called up 5/6 hours later stating we wished to return as my wife needs an operation (so costs didn't stack and also we were paying for a car she was unable to drive for a period of time). Said on phone that they could unwind, and email said sales manager would be in touch - I had to chase and chase again....

5) Reject car due to as above, but car was also not what we expected and I said this when I went in to sort out what they would give me, and how it would work... They weren't pleased with mentions of FCA etc.

Unwinding wasn't possible due to funds coming out; from Thu I signed (25th) from the Monday I called / delivered (29th) I then had to ring, email and visit dealers twice, before sorting out things on the 7th. Then it was 'new reg month' you'll lose money etc. 13 days?

I had a statement from part/ex informing me the old car we traded in wasn't paid off until 7th... We did deal early August and took car in on 25th....

Very messy. Still not had a V5. Never ever known one take so long.

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Sun 18 Sep 2016 18:25
Paid car off - finance still not settled - skidpan

Sounds like a simple case of buyer remourse to me.

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Fri 23 Sep 2016 10:21
Paid car off - finance still not settled - sellmycar

You have a cooling off period these days of upto 30 days when buying a used car, my advice to you is to contact trading standard and explain what happened, they will take up your case, as in my opinion the dealer has been less than honest here. This time of year is always hard for dealers with cash flow, the dealer may be waiting until the end of the month to settle!!
The dealer wants naming and shaming treating you like this, Its tricks like this that give dealers a bad name.

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Fri 23 Sep 2016 18:52
Paid car off - finance still not settled - Bianconeri

You have a cooling off period these days of upto 30 days when buying a used car.

Really?
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Sun 25 Sep 2016 17:31
Paid car off - finance still not settled - westerveld

Think we had 14 days but the finance would be then ours to sort, and we had 30 days in which to sort, but I didn't have that money laying around....

Further thickening of the plot, despite being battered when I took it back in after 9 days for £££.... Usual garbage about 1 more owner, new reg month, bought in August and then sold in September so they were able to get to their targets etc etc.

The DVLA tell me they've never actually registered the car to me; so they're still the legal owner and haven't said I ever owned the car. It was taxed by them too once they got the other V5 in and delivered car to me.

I've not had anything and tomorrow is 4 weeks since purchase, DVLA said to call tomorrow but there was nothing and whilst they quote 6 weeks, current visibility of workloads means 4 weeks they'd expect to see something.

What to do? Obviously we're due the years road tax back.....

This amongst a number of other issues with the deal, the numbers don't make sense when reading the finance through and it was a struggle to understand for them (had to go get the file to understand it all).

Anyone any advice?

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Sun 25 Sep 2016 17:44
Paid car off - finance still not settled - Bianconeri
If it's as convoluted as it sounds then suggest you see a solicitor.
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Tue 27 Sep 2016 14:42
Paid car off - finance still not settled - TheBroker

Hi, this sounds very complicated. Without all the facts it is hard to unpick this. I suggest you speak to the dealer and say that either they unwind everything and put you back in the position you were prior to walking into their showroom (especially bearing in mind the car has not been registered in your name) or you will contact the FCA (also ask for their license number as you will need this, or you can look them up on register.fca.org.uk) and report them, plus you probably will need to instruct a solicitor to handle this. I should imagine the FCA would enjoy getting involved in this as they are still flexing their muscles after they took over and hitting a smaller company employing sharp practices will send a message to other small dealers which honestly does need to be sent.

Good Luck,

TheBroker

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Tue 27 Sep 2016 19:06
Paid car off - finance still not settled - westerveld

Thank you.

I am going to approach the company themselves first and ask them the numerous questions regarding the case.

Still nothing via the DVLA so it's clear it was never sent. Car is now sold too.

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Mon 17 Oct 2016 23:10
Paid car off - finance still not settled - westerveld

The dealers have been back and forth with the note, no tax refund ever came (car was never registered) but they did offer £1k refund and the car tax back (even though this is our money regardless).

Rejected as we want a deal unwinding or indeed to put us in the position pre purchase, which would see around £5k to be returned to us. They sold the car at the price we purchased for it...... About a week after....

Have said TS and FCA alongside legal firm if we continue to be so far away on money back. We were basically due nothing from the dealers for the amazingly poor service.

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