HELP: RE: Car Finance

csmw

Sorry if this post is a little long, but I need to try and explain the situation at best as I can as getting very stressed out.

I applied for car finance at 'The Car Finanace Company' I was advised that I would have to go to their branch in Nottingham on the 22/2 which I did to pick a car.
I traveled to Nottingham and eventually picked an 08 Fiat Punto for £4100.
This is where the drama began, I could not test drive the car because there was no battery, there were all also some other defects such at the wing mirrors not having covers, no spare wheel and no central locking key which I was assured would all be rectified before delivery of the vehicle.
I wished to part exchange my 52 VW Beetle which they offered me £400 and I rejected. Instead I opted to pay the 10% deposit as already had offers on my car. But needed to contact the buyer before I could pay the deposit..
I was told to complete the paper work and that the car would be delivered to me, which at point I could test drive it to make sure I was happy and that the finance agreement wasn't enforceable until I had taken delivery of the car.
I paid a £50 deposit, signed the paperwork for the vehicle and was given the time to contact the person who wished to buy my car.
I was told that I would be contacted to arrange delivery of the vehicle and pay the outstanding deposit.
When i returned home I showed the paperwork to my sister who said that the amount was too much as would of ended up paying £7500 in total for the car. My sister agreed to loan me the money to get a new car.
I emailed the company yesterday to say that I no longer wished to continue with the finance and that no body had contacted me on Tuesday as agreed or any other day. They have responded with the below:

We have tried to contact you by telephone many times at the back end of last week to no avail. The car has been ready for you on time as per your collection on Saturday.

The deal has been paid out and is live. You signed a non cancelable agreement on trade premises and you are tied to this agreement. The car is ready for you to collect, all you have to do is call us to make an appointment to pick it up.

I hope this clears matters for you.


Now my query is do I have to agree to this, I no longer want the finance and feel like I'm being forced to take a vehicle I no longer have any need for.

If anyone can offer any advice id be more than grateful.

poppasmurf_bewdley

You signed a binding contract and paid a £50 deposit which clinched the deal.

If you don't go through with your end of the contract, the company can make a claim from you for any money they will be out of pocket by re-selling the car to someone else, ie further advertising, interest of outstanding capital, etc, etc, plus loss of profit.

~Brock~

I take it you are not actually backing out of the purchase of the vehicle, but you can withdraw from the finance agreement within the first 14 days and then have up to 30 days to repay the amount borrowed (plus a small amount of daily interest).

Signing on trade premises makes not a jot of difference nowadays. You have the above right by law.

csmw

Thanks for the advice Looks like I'm up a creek without a paddle then the company offer finance to those with bad credit they also have there own car supermarket, which is where I attended as they said I had to buy the vehicle from them. Which isn't what there website says.

Can I not do anything about the fact they lied and said that the contract was not binding until I took receipt of the vehicle?

Mr_F_Dorsetty

csmw

Take this advice and no other - Go to a solicitor or the Citizens Advice Bureau or ring Trading standards at your local council.

Send an email to the car people saying nothing more than

I am taking legal advice.

I would say that the car you signed for was not of saleable condition or fit for purpose at that time you signed and until you agreed that the car was, then no contract is binding. How can you sign for something that did not exist in a purchasable form? It did not exist as a saleable vehicle when you signed, so, no deal imo.

GET PROFESSIONAL ADVICE TOMORROW

That is the only sensible advice.

Stevefromdonny

Car finance as said above has a 14 day withdrawal period. Phone THEM and tell them you want to withdraw, they will probably take a debit card payment over the phone to clear the balance. This as far as I can see is your route out of this. Take it. Verbal agreements mean nowt in the car trade.