MITSUBISHI dealership gone into liquidation, taken our money with them!

texranger

mountainofdebt wrote: »

Haven't looked at the comments on facebook but for any dealer to accept £8000 in cash would be raising a few eyebrows

This is simply as cash does not need to go through the books or through the bank. if BHF (Lloyds tsb) were in the process of freezing their accounts etc, the cash would have been to try and pay wages etc. before they were closed as this would not have been the case of sopmeone form BHF turning up one day as saying you are closed give me the keys.

they would have received a legal letter telling them if they do not clear their debt with the BHF by XX.XX.XXXX then they would forclose and take over all the assets

mountainofdebt

texranger wrote: »

This is simply as cash does not ned to go through the books or through the bank. if BHF (Lloyds tsb) were in the process of freezing their accounts etc, the cash would have been to try and pay wages etc. before they were closed as this would not have been the case of sopmeone form BHF turning up one day as saying you are closed give me the keys.

they would have received a legal letter telling them if they do not clear their debt with the BHF by XX.XX.XXXX then they would forclose and take over all the assets

I was thinking more of money laundering as bod1467 has already mentioned.

It would be interesting to know if the OP was asked why they were paying such a large amount in cash - I know where I work, anything over £1k is refused unless there are a) extenuating circumstances and b) it has been agreed with a senior manager.

texranger

mountainofdebt wrote: »

I was thinking more of money laundering as bod1467 has already mentioned.

It would be interesting to know if the OP was asked why they were paying such a large amount in cash - I know where I work, anything over £1k is refused unless there are a) extenuating circumstances and b) it has been agreed with a senior manager.

it should of been the OP asking the salesman why they wanted so much as a cash deposit.

gems2381

The initial deposit was £200, we didn't want to go down the finance route so had been paying it to the dealership bit by bit (we have the receipts for this) which is why the dealership had the car.

mountainofdebt I never said the £8k was paid in cash. The only time cash has been mentioned is on facebook, we tried to pay the balance off in cash on thursday as we were advised to do by the person manning the desk on wednesday evening when we thought the business had gone into administration. We wanted to pay by cheque but were told it has to be cleared funds.

gems2381

Flyboy152 wrote: »

Why would this other customer have his car taken away from him?

The garage forecourt was full of cars with sold signs on them, everything was taken away, nobody got their cars even the ones who had paid in full and were waiting on the cars being delivered. We've all lost everything we've paid.

wealdroam

gems2381 wrote: »

We wanted to pay by cheque but were told it has to be cleared funds.

A debit card is cleared funds.
Wonderful thing hindsight, isn't it?

gems2381

The guy told us to bring cash, which didn't even matter on the day as they wouldn't accept anything unfortunately.

texranger

gems2381 wrote: »

The garage forecourt was full of cars with sold signs on them, everything was taken away, nobody got their cars even the ones who had paid in full and were waiting on the cars being delivered. We've all lost everything we've paid.

regardless, if the bank forcloses and claims all assets, they will take all stock etc. even if they have sold boards on and it is very strange if all cars on a forecourt are sold at the same time. i suspect the dealership where aware the bank were turning up that day to forclose and thought if they showed all cars as sold the bank would not take them, but it does not work that way as if thye dealership have not paid Mitshubishi for the cars then the cars are technically Mitshubishi's and not the dealers/banks or buyers.

gems2381 wrote: »

The guy told us to bring cash, which didn't even matter on the day as they wouldn't accept anything unfortunately.

they would if they going under as its the best what to hide funds as it does not need to go through the books etc.

gems2381

texranger ours was marked as sold even though it wasn't fully paid, it'd been that way since the deposit was first put down weeks and weeks ago, that's why so many had sold signs on them.

The cash wasn't asked for by the dealership, this was the what we were told to do to get the car off the administrators (when we thought it was in administration).

Flyboy152

wealdroam wrote: »

Hi Flyby.

Care to provide a citation for that statement?
Not just a general franchisor/franchisee agreement, but specifically the Mitshubishi/dealer agreement if possible.

If that's not possible, perhaps we can dismiss your statement as pure guesswork, eh?

Thanks for your help once again.

Is your "o" button stuck?

Where did I say it was a legal duty?