BMW 1 - Finance settled by dealer before swapping cars

Honest John Back Room » Legal matters
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Sat 9 Nov 2019 06:03
BMW 1 - Finance settled by dealer before swapping cars - Stu86
Basically I had arranged via phone call with a BMW dealer I would part ex my current car for a car they had for sale, agreed price etc and i paid the deposit for the car.
However when I went to collect the car, the car had actually been resprayed and I rejected the car.
Dealer has since paid my deposit back.
What I didn’t realise was that the dealer has settled the finance on my current car prior to me collecting and still have the finance active in place for the new car I rejected, although they have told me they are in the process of cancelling it.

Obviously them clearing the finance shouldn’t of happened and my old policy can not be reactivated, where do I stand in this, do I have to set up a new finance agreement to replace my old one, or can I just return the car to them and let that be a lesson learnt for them?

Car value is 17k
Finance value is 19k

Many thanks
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Sat 9 Nov 2019 08:46
BMW 1 - Finance settled by dealer before swapping cars - Palcouk

Presumably BMW finance, that being the case up to the dealers to sort it out to put you in the same position as if any deal had not taken place.

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Sat 9 Nov 2019 09:54
BMW 1 - Finance settled by dealer before swapping cars - Stu86

Presumably BMW finance, that being the case up to the dealers to sort it out to put you in the same position as if any deal had not taken place.

Correct. Dealer have confirmed the second option is not possible due to the original finance agreement no longer being active.

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