Car PCP Deal - made no payments!

MattJ_2

Hi,

I swapped vehicles at my local SEAT Dealer on Sept 1st for on a 3 year PCP deal. I've always changed cars while on PCP at the same dealer using the same finance company ... however since Sep 1st I've made no monthly payments on the vehicle and put down no deposit. I've rang the dealer who say everything is in place at their end and I've rang the finance company who say they can't find my car on their system (but they can see the 3 year servicing that came free with the car).

Where do I stand in terms of cancelling the PCP altogether and returning the vehicle? Or wiping out the payments that should have been made already as my bills all go out at the start of the month and whats left at the end I take out and spend - only reason I noticed the missing car finance was I'm in the process of buying a house and when they bank tried to find my monthly loan repayments they weren't there!

Any help appreciated.

thanks

Matt

missile

Someone somewhere has made a mistake.


You must have been given a copy of the finance agreement that you signed. It is a legal requirement.

nidO

I would suggest getting on to both the dealer and finance company again and get them to sort out their issue and find your car.

It may indeed be very tempting to let it slide with a "yay free car!" attitude but someone's bound to notice sooner or later, and when they do the finance company will be perfectly entitled to demand immediate payment of all your missed payments (this is assuming you did actually sign a new finance agreement and the agreement exists in the first place, rather than the dealer just letting you walk out the showroom with a new car and no payment at all)

Under the deal you signed with them you're the one obliged to make the payments to them, whether they actually "take" the payments as and when they're supposed to via whatever means (card, direct debit) largely doesn't matter.

Better that you're the one pointing that out to them while the amount of money you owe them is comparatively small, than carrying on spending money that isn't yours then getting a heart attack when they want several grand off you immediately.

MattJ_2

No I wasn't after a "free car" - tempting as it may be I didn't want a huge bill like you say!

I haven't even had the logbook for the car so I can't even claim mileage on it at work as I can't prove to them that I own it!

I have no copies of any agreement as there is no agreement number in place on the finance companies system!

nidO

MattJ wrote: »

I haven't even had the logbook for the car so I can't even claim mileage on it at work as I can't prove to them that I own it!

I have no copies of any agreement as there is no agreement number in place on the finance companies system!

I would then be going into the dealer and asking them where the finance agreement they should have physically given you on the day you walked out with the car is, and what's happened to the car's registration details (as you should have received a V5 from the DVLA within days of buying it).