How do I get my px money back from a car purchased on finance

sh4un

My car has been a problem since the second day I brought it,numerous (5) times back to the dealer with the same issue without being fixed.It has an intermittent fault that keeps coming on and making the car loosepower. I am scared of driving this car as on numerous occasions it has failedwhen pulling out of junctions and overtaking.

The car was purchased with my part ex £700 and financed£2000.
I have given instruction to dealer and finance company thatI now no longer want the car back on the grounds that it is not fit forpurpose, and request my finance to be settled and my part ex value returned tome.
The dealer has agreed to take my car back in return forsettling my loan, but not the return of my part ex value.
The finance is forcing me to take the car back or have anindependent evaluation and see what they say.
What do I do to get my money back?

Tixy

I believe with a section 75 claim for faulty goods, particularly second hand goods it is quite usual for the credit provider to require an independant/professional opinion. So if you want to pursue a claim under section 75 then I would go down that route.

You may find it useful to read the case studies and associated info in relation car sales on this link http://www.financial-ombudsman.org.uk/publications/technical_notes/goods-and-services-bought-with-credit.html#3a
The information and evidence section may help you put your case together for the credit provider.

sh4un

Hi Tixy and thank you,
I will contact FSA and see what my options are.
With regards the independent inspection,my concern is that the fault is intermittant and may not show up on the inspection,Am I then stuck with a car that I will not drive, as it has on numerous times put me into a panic.

DCFC79

sh4un wrote: »

Hi Tixy and thank you,
I will contact FSA and see what my options are.
With regards the independent inspection,my concern is that the fault is intermittant and may not show up on the inspection,Am I then stuck with a car that I will not drive, as it has on numerous times put me into a panic.

The FOS is who you need to contact not the FSA.

chanz4

section 75 doesnt apply in the same way to car finance, the op actually bought the car from the finance company as they buy on the ops behalf

sh4un

I contacted the FOS on thursday and they also said it sounds like the car is not fit for purpose and they may be able to help me.. He told me to ask for a Final Decision Letter from the finance company, when i had received that I should send the letter to the FOS along with the forms they will send me.
I contacted the finance company on Friday and requested the letter.
Today they phoned me saying that all finances will be settled and my part ex money will also be given back to me within the week, they then emailed their decision letter to me.
Hopefully by Friday this whole situation will be over..

iolanthe07

Good result - well done.