Screwed over by Mazda

starsky365

hoping I can draw on some wisdom here -

The OH is now at the end of a PCP which had 3 options…

1. Hand the car back nothing more to pay
2. Pay the balance in full and keep the car
3. renew the PCP and do it all again

the problem I have is that we wanted to start a new PCP and do it all again but mazda finance (santander) have decided that despite not a single late or missed payment they wont grant the finance for the new PCP.

Firstly can they do this? As far as Im concerned the contract quite clearly states that option 3 is available at the end of the contract and they are now in breech.

I can't afford to pay the balance in one go and mazda have said they can't make a decision on whether they can extend the payments until after the final payment is made HOWEVER they've also written and said unless we give the 60 days notice of handing the car back they won't take it back which obviously means we'd have to give them notice before we know if they'll extend or not.

of course the answer is just do another PCP with another manufacturer but we can get a PCP else where either

what on earth can I do here? it seems the only option I'm being given is to hand the car back and walk away but then I'm left with no car, no means of getting another PCP and no cash to buy a second hand car other than a cheap money pit. The whole reason we got her a car on a pcp is so that we weren't constantly shelling out for new exhausts and clutches etc..


Help!!!!

DUTR

starsky365 wrote: »

hoping I can draw on some wisdom here -

The OH is now at the end of a PCP which had 3 options…

1. Hand the car back nothing more to pay
2. Pay the balance in full and keep the car
3. renew the PCP and do it all again

the problem I have is that we wanted to start a new PCP and do it all again but mazda finance (santander) have decided that despite not a single late or missed payment they wont grant the finance for the new PCP.

Firstly can they do this? As far as Im concerned the contract quite clearly states that option 3 is available at the end of the contract and they are now in breech.

I can't afford to pay the balance in one go and mazda have said they can't make a decision on whether they can extend the payments until after the final payment is made HOWEVER they've also written and said unless we give the 60 days notice of handing the car back they won't take it back which obviously means we'd have to give them notice before we know if they'll extend or not.

of course the answer is just do another PCP with another manufacturer but we can get a PCP else where either

what on earth can I do here? it seems the only option I'm being given is to hand the car back and walk away but then I'm left with no car, no means of getting another PCP and no cash to buy a second hand car other than a cheap money pit. The whole reason we got her a car on a pcp is so that we weren't constantly shelling out for new exhausts and clutches etc..


Help!!!!

The last car I had that required a clutch was a Mk1 GTI and that was back in 1984, shelling out on clutches exhausts etc still costs a lot less than the constant monthly pcp fees, your credit score may have changed since delivery of your current car to date, they are not obliged to give you extended credit without a further credit check which you may not pass this time.

WellKnownSid

Has your credit history changed recently? No-one is contracted to loan you money at some point in the future, you cannot consider them in breach if you no-longer meet their criteria - whether it's your circumstances or the finance house's that's changed.

Nothing wrong with buying something reasonably priced, think of all the interest you'll be saving.

I've run several cars from 150k to over 300k miles - never had a clutch go yet. Lots of tyres and brake pads, but no clutches.

Building_Surveyor

Your deal has come to an end, they can do what they like and are under no obligation to renew it, As others have suggested the criteria might have changed, your credit history etc.

Personally if your on a pcp deal you should always make provisions to cover any costs at the end, whether that be spare cash for a deposit on another car, excess mileage charges, cheap run around, balloon payment or whatever.

Sounds to me like you had no plan b so I would say ditch the pcp as it doesn't sound suited to you if you have no excess funds.

starsky365

Thanks for the replies guys.

I drive company cars now but before that we both had used cars- neither of which was more than 4 years old at the time. In the space of 2 years between us we went through 2 clutches with dual mass flywheels, a coolant pump and brake cylinders on one and a clutch and head gasket on the other. It cleaned us both out hence we decided it would be easier to pay a pcp and not have to worry about where we would get another grand from if one of the cars needed work.

We did have a plan B and actually the plan was always to pay the balance- unfortunately life threw us a curve ball and the OH ended up ICU with us not knowing if she'd make it through the nights- long story short but as a result of treatment and costs incurred savings are now at a minimum.

BeenThroughItAll

starsky365 wrote: »

In the space of 2 years between us we went through 2 clutches with dual mass flywheels, a coolant pump and brake cylinders on one and a clutch and head gasket on the other

Unless you're doing intergalactic mileage, 3 clutches and 2 DMFs across two vehicles in two years inidcates there's something at fault with one or more of the drivers.

Sorry if that's not what you want to hear, but like turbos, DMFs rarely die - they're more often killed.

Herzlos

They haven't done anything wrong, they just don't want to lease you another car.

I'd be looking into what the cars worth Versus the final payment, and if you like it and are getting a good deal, then try and get a loan elsewhere to cover it.

Failing that you'll need to give it back and buy another car. You might be able to get a PCP deal as a new customer or with another dealer/franchise.

Mr_Mink

There is a 4th option.

If the car is in positive equity (which being a Mazda is fairly likely), that positive balance is yours to use as payment against another car. Now it's not likely to be huge but it may be enough to at least leave you with a car at the end of it all.

accidentalspender

I know this isn't what you asked, but I think it may help you. I hear a lot of people saying they've bought a new car because it's cheaper. I find this very difficult to believe. If you are doing a lot of miles, you certainly don't want a PCP.
An older car isn't necessarily a money pit. Here's some simple maths that may enable you to see my point of view.
The assumption is that you've paid a £1400 deposit for your Mazda, followed by £200 a month.
That £1400 deposit (the VAT on your shiny new car - don't you pay enough tax?) would buy you a decent-enough 10 year-old runaround. You've then got £200 a month to put into a savings account (you were planning on paying it out on your PCP so don't tell me you can't afford it). The car may require a few repairs over the following 3 years, but I find unlikely that they'll add up to the £7200 you'd be paying on the PCP. In my experience you'll have £5k in the 'pot' at the point when you'd usually be handing back a hugely depreciated Mazda.

If you want to buy a new car, it's your money to spend as you please. There are lots of reasons to do so: you like the smell, you deserve it, you can easily afford it, you want people to like you or think you're successful, driving pleasure, it's your favourite colour, the salesman makes you feel special, etc. etc.

Saving money has no place among these reasons.