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I have got myself into quite a bit of a situation with a main dealership.
I signed the order form, paid a deposit, and entered a finance agreement with the dealership on last Saturday 25th July, and the order form, does mention that me taking the car is subject to the vehicle inspection that I have arranged to get done on Wednesday.
The main issue I now have is that I only realise now that the dealer did not sign my copy of the Finance Agreement.
I originally wanted to go collect the car and pay the remaining deposit on Saturday 1st August, but the dealership really pushed for Friday 31st July (as its end of the month and they want to hit a target), and said they would deliver the vehicle to me themselves on Friday as long as I transfer the remaining funds on Friday. So the order form that I have states that the estimated delivery date is Friday.
Given the situation regarding the copy of my finance agreement, I now want to insist on going to collect the vehicle myself on Saturday 1st August, and get the dealer’s signature on the finance agreement then, and then pay the outstanding deposit and take the car.
Is this the correct thing to do?
Would you have any advice?
It seems legal beagles have no answer either – 88 views in a week but no replies…..can you recommend anyone else?
Hello, I have applied for a car on Finance through PCP and I have been accepted. I only have a provisional which is in my maiden name and old address so I need to update it. My husband will be the main driver and will be insured on it until I pass my test. Is this a problem as the dealership advised there may be an issue with this.
No it was a picture at the top of a door card, its a free picture hosting site so there are ads, I would post the picture dirrectly if your site would let me
so I created a forum post and now its been deleted, what a pile of s**t!
30 June 2015 at 11:24 pm in reply to: Cancelling Purchase Agreement & Finance before delicery #66583
Thanks so much Stuart, and David for your link, will read through it.
I’ve learned that best course is to get an email over and take it from there.
Hopefully I can post sn update with some good news soon !
Thank you for your swift reply. I totally agree with point 1, I read T&C’s cover to cover. The finance is in my partners name and i was out the country and she signed because she assumed everything was as stated from the beginning and i hadn’t had a chance to get my hands on the paperwork so that’s a learning curve on our part. I think from my point of view and taking your comments into account I am trying to do damage limitation at end of finance in terms of excess mileage which i factored in at the lower rate. Again lack of experience on my part in being able to negotiate mileage pre order which was never highlighted by the Sales Ex is a factor.
Can I ask, if I have a 48 month PCP and changed the car after 36 months would the current mileage be a factor in terms of excess mileage charges?
If I see through the remainder of the finance agreement and chose not to make the balloon payment and get a new car, do dealerships tend to take the excess mileage figure from the GMFV.
Thank you for your help I’m just trying to get a better understanding of PCP which will help no end next time round.
Hi Stuart, I bought a car on PCP and at the time i didn’t know what the process was. Nobody explained that i could decide on mileage. At the time when i received the paper work the excess mileage was 4 & 7 per mile on a 10k per annum limit. I was working away and my partner went to sign the paperwork. When i reviewed the paper work the pence per mile excess was now 7 and 15 respectively. On addressing this i was told that they had to go to another finance company. Now this is fine if that was the case however should they not have shown due diligence and informed us of the changes? On arguing the point i was told as long as i have paid half i could return the car. My questions are is this the case? Would it effect my ability to get car finance in the future because if not I have a good mind to do the mileage i need return the car at half way and finance a new car. If this is not the case would i be better phoning the finance company and upping the mileage? Any thoughts would be appreciated thanks.
15 June 2015 at 9:08 pm in reply to: I bought usa car junk import from copart without documents – please help #66476
TOTAL LOSS , CERTIFICATE OF JUNK in USA MEANS
ITS NOT WORTH for the insurance to pay to fix damages .
so it might be category C/D OR even B BRAKER .
car was involved in accident in 2012 and was registered in 2012 therefore
car was very very expensive at that time .
15 June 2015 at 9:05 pm in reply to: I bought usa car junk import from copart without documents – please help #66475
i just listed vehicle on ebay and waiting for new buyer :)
Thats what i am thinking about legal advise but I am not sure if ” somewhere ”
in terms and conditions of the company are hidden things that might not even benefit
any customers .
i might have print screen of the advert but i have to look at it .
vehicle was as far i remember sold as seen so no refunds .
But my biggest question is how they sold vehicle to me
without any export documents from 1st seller ?
I assume there must be somewhere UK MOTOR LAW regarding selling and buying vehicles
and someone knows how to go around ?
Hi Guy’s My name is Skem
I am new for This forum
I’ve been visiting thecarexpert for just recently started reading through the forums.it’s looks so great and so nice
Thanks. That’s odd because when I was looking last year I made various inquiries for prices and Orangewheels confirmed the max deposit was 50% of the selling price before deposit contributions are subtracted. Then deduct the dealer and audi finance contributions from that 50% figure leaving you the balance you yourself can add in towards the deposit. They also stated they thought GFV could be as low as 2 or 3 payments so even down to £800-1000. Also when I have mentioned to a couple of dealers doing it this way none of them suggested it was not possible.
If I can do it this way it knocks a couple of £k off the total cost doing it by HP over the life of the 3 year loan. As I want to keep the car for maybe 5-6 years all in it’s the total cost I care about not the monthly payments. It just seems so simple an idea that I wonder what I am missing. I may have to check with audi finance.
I am looking at purchasing a new Audi. I have looked at HP which would be my normal route. I bought my last car that way through Audi but knocked them down to my bank rates. However I am now considering a new car rather than a used one because the £4500 or so dealer and finance contribution makes it cheaper than buying a nearly new one if I am prepared to go down the PCP route. I wouldn’t do this normally as I intend to keep the car after the 3 years of the PCP and it is an expensive way to do it if keeping the car. I also don’t want to go down the route of cancelling the finance within 14 days as I am not in a position to pay it off in full. I think I have found a solution but want to make sure I am not missing something. I was intending to pay the maximum deposit of 50% including possibly trading in my car (depends on the figure they offer) and pay the minimum GMFV. This then leaves me to pay the balance by the monthly payments which are more like an HP loan level than the usual PCP figures. I think with the dealer/finance contribution, and with minimising the balloon payment at the end, will mean that the overall cost to change is less than a simple HP loan. I may pay a little extra in interest than I would on an HP loan but that is more than outweighed by the £4500 deposit contribution by taking the PCP. By paying off the loan in the monthly payments and leaving a GMFV of less than £1500 I think I have managed to turn a PCP into virtually an HP loan but am I missing anything? Thanks
Hi! Stuart, thanks for the speedy reply.
FYI. The dealer stated that the Juke referred on Motorpoint are imports form Cyprus, and only have 2 year warranty and limited paint and corrosion cover. I contacted Motorpoint and was told it is 3 years warranty and the cars come from Malta.
Anyway, the dealer and I have reached a mutually acceptable deal. I get the car for £14,300 which will be new at first reg (at end of July). My part ex is £8250 (year 12 Juke Visia dci 26,000miles, leaving me with £6050 to pay. I can pay the balance of £6050, at month 4 on PCP.
PS got the dealer to give 3 years free servicing as well.