Help needed! Taken out car finance

Laura1206

OK, I hope this is in the right area of the board, big apologies if not.

I need some advice, I have just got a second hand Mini One 1.4 Graphite on finance, I did have a Fiat 500 on finance and they have settled the finance by way of me paying 500 pounds (I can't find the pound sign on my keyboard, sorry) and them settling the other 500 (there was 1,000 negative equity) so I have part-ex'd it.

Originally I was supposed to get the car on Monday but after driving the 30miles and paying toll charge to get there they said the car needed something doing to it - which the salesman didn't know specifically - and it needed taxing. I ended up not driving home in it, lots of phonecalls the next morning to try and find out what it was, turned out something minor with the brakes and all is fine with it. Well, from that moment on I had second thoughts about it.

I have since picked it up and now have it after signing the goddamn paperwork. I have changed my mind and want my old car back. I have phoned BMW finance they say I can withdraw from the aggreement but would need to pay the loan back :-( I realise I have made a massive mistake and want my little Fiat back :-( This has kept me awake all night and I'm meant to be sleeping today as I start nights tonight :-(

I phoned the dealership and the man they need to discuss it with isn't in until Monday, they are obviously !!!!ed off with me. I will be paying more for this damn Mini a month than I did with the Fiat.

Do I have any rights? I realise I will probably lose my 500 pound deposit :-(

Please, any advice is greatly appreciated, and I know I'm a fool and stupid.

Thank you for reading,

Laura

mountainofdebt

I have to ask the question why on earth you proceeded with the deal if you were having second thoughts.....this isn't a dress you were buying !

Also I'm confused as to why you were paid £500 if you had negative equity on your Fiat ? By that I'm assuming that you still owed £1K on your Fiat.

I would have thought that you would have added the £1K that you owed on the Fiat to the loan that you must have took out to buy the Mini so it is little wonder that you're paying more per month for the Mini....in fact I think the £500 you received was the return of the deposit.

Personally I think you find that the garage will tell you to go and take a hike.

What is it exactly that you've changed your mind about?

forgotmyname

Cars been sitting parked for a while and needs the braked cleaning or some new pads. Probably something minor like that anyway.

Garage have foxed this before you took posession, Sounds like a decent garage to deal with. So they have done nothing wrong.

Not their fault you took the toll road. I presume you didnt phone to check to see if the car was ready. Maybe they could have contacted you? You dont put enough information on what was arranged.

You changed your mind after taking the car, So it now has an other owner on the log book (V5C) and everythings done.

They could treat this as buy the car off you but at a much reduced price, But you then need to settle the finance and I imagine it will be worth a lot less that that figure.

Its going to be costly, Even if they still have your old car. You have no rights to demand it back. It may have gone to auction or be prepped for resale.

Sadly a bit late for 2nd thoughts.

warwicktiger

OP
Why have you posted this twice?

mountainofdebt

warwicktiger wrote: »

OP
Why have you posted this twice?

She hasn't ......she posted once in the loans section, one here and one in consumer rights.

Obviously had 2nd thoughts about where to post it

TrickyWicky

If it were me, I'd stick with the mini. It's made by BMW and their engineering is well known for being superior to Fiat.

Seriously, if the car has been stood a while, the odds are it needed its brakes cleaning and the garage thought they'd do it for you ready to be picked up. Sounds like they made a blunder with their timing and screwed up. It honestly doesn't sound like that much of a big deal to me.

If you'd got it home and heard funny noises in the steering, the engine was coughing and spluttering or the gearbox kept grinding then yes I'd say you've made a big mistake but seriously, I don't think you have. If anything you've gone from a bad brand to a good one.

Biketrials08

TrickyWicky wrote: »

If it were me, I'd stick with the mini. It's made by BMW and their engineering is well known for being superior to Fiat.

Seriously, if the car has been stood a while, the odds are it needed its brakes cleaning and the garage thought they'd do it for you ready to be picked up. Sounds like they made a blunder with their timing and screwed up. It honestly doesn't sound like that much of a big deal to me.

If you'd got it home and heard funny noises in the steering, the engine was coughing and spluttering or the gearbox kept grinding then yes I'd say you've made a big mistake but seriously, I don't think you have. If anything you've gone from a bad brand to a good one.

Yeah I'd agree with this and although the 500's residuals are rather strong it 's well known that the mini's are also strong and as a car it's a much better steer. Having looked at both and owned a mini for a while I would relax and roll with the mini, it's a finer piece of engineering (not fault free, what is? But I'd bet on it much more than the Fiat).

patman99

At least the Mini is made in the UK. If it's a diesel, then it will be using either a Toyota engine (same as Yaris) or a PSA (peugeot/Citreon) unit as used in the Citreon Mini look-a-like. The petrol-engined Mini used engines from Chrysler and PSA.

The Mini can't be a bad motor, if it was, BMW would not have invested £250m in the plant.