Car on finance, with faults

Walter_White_2

I'm asking for a friend who doesn't do the internet and I don't have full details but here goes...

Car on finance which is 2 years old. He will soon be coming up to the point where he has to make the final balloon payment and the car will be his.

It is a Peugeot hatchback (can't remember the exact model) but it has been back to the supplying dealer on 5 occasions now for a gearbox fault, which never seems to be fully sorted.

The warranty period is also soon to expire.

He likes the car and wants to keep it as he doesn't have the money to go and start over again, but is understandably nervous about what happens when he owns it outright and the warranty disappears.

What is his best option here?

Does he just buy an extended warranty and hope that will see him right?

Does he use any consumer protection he may have with the finance co to fight his corner?

atrixblue.-MFR-.

Walter_White wrote: »

I'm asking for a friend who doesn't do the internet and I don't have full details but here goes...

Car on finance which is 2 years old. He will soon be coming up to the point where he has to make the final balloon payment and the car will be his.

It is a Peugeot hatchback (can't remember the exact model) but it has been back to the supplying dealer on 5 occasions now for a gearbox fault, which never seems to be fully sorted.

The warranty period is also soon to expire.

He likes the car and wants to keep it as he doesn't have the money to go and start over again, but is understandably nervous about what happens when he owns it outright and the warranty disappears.

What is his best option here?

Does he just buy an extended warranty and hope that will see him right?

Does he use any consumer protection he may have with the finance co to fight his corner?

YOU YOUR=YOUR friend.


I hope this has been an issue from new when ordered or purchased?

TBH after 3rd attempt to rectify failed I would have been insisting the dealership replace it with the same model or demanding money back.


Has he contacted PUG UK HQ? and complained they haven't fixed it?


His best Option is to be making some noise at this point.


Call finance company and ask for assistance in getting this car fixed after all its the finance companies car until paid in full!.



a complaint to PUG HQ the fault is persistent and present and not rectified after 5 attempts to repair at the dealership and your seriously not happy is warranted IMHO to see If they can make some waves at the dealership.


If he cant get it repaired, I would get extended warranty but shop around for the best deals.


get the ballon payment out of the way to call it his own, and then sell it or part ex it and don't look to the French for a reliable vehicle look at something else.

Spicy_McHaggis

atrixblue.-MFR-. wrote: »

YOU YOUR=YOUR friend.


I hope this has been an issue from new when ordered or purchased?

TBH after 3rd attempt to rectify failed I would have been insisting the dealership replace it with the same model or demanding money back.


Has he contacted PUG UK HQ? and complained they haven't fixed it?


His best Option is to be making some noise at this point.


Call finance company and ask for assistance in getting this car fixed after all its the finance companies car until paid in full!.



a complaint to PUG HQ the fault is persistent and present and not rectified after 5 attempts to repair at the dealership and your seriously not happy is warranted IMHO to see If they can make some waves at the dealership.


If he cant get it repaired, I would get extended warranty but shop around for the best deals.


get the ballon payment out of the way to call it his own, and then sell it or part ex it and don't look to the French for a reliable vehicle look at something else.

I don't think that's the best advice.

He doesn't have the money to start again, whatever that means.

So paying the lump sum to part ex it seems stupid.

I see his best option is to find another car at the same payments and get rid of the current one using that as a deposit and letting then sort the balance.

Nodding_Donkey

Any aftermarket warranty would refuse to pay out for a pre-existing condition.

atrixblue.-MFR-.

Spicy_McHaggis wrote: »

I don't think that's the best advice.

He doesn't have the money to start again, whatever that means.

So paying the lump sum to part ex it seems stupid.

I see his best option is to find another car at the same payments and get rid of the current one using that as a deposit and letting then sort the balance.

Then he would still have to get the full and final settlement off the finance company and permission to sell and the payments and lump sum for the dealership. he would then get back on the roundabout of payments from the start again and be stuck with the same balloon payment 3 years down the line if theres the same offer of HP as the one he has now.


I think his neighbor wants to get the car repaired in all honesty, and the advice within my post for that issue is they way forward get as many companies that can help make some noise to get it done.


if they cant get it done, then yes the OP friend has choices but I know I would rather get the balloon payment out the way so im not tied to finance, get the car paid outright and either keep it for a while till I could save for a deposit for another vehicle or private sale or another type of HP deal with another manufacturer and use the car as part ex, in either case its not going to affect his credit rating to obtain another finance deal.

Spicy_McHaggis

atrixblue.-MFR-. wrote: »

Then he would still have to get the full and final settlement off the finance company and permission to sell and the payments and lump sum for the dealership. he would then get back on the roundabout of payments from the start again and be stuck with the same balloon payment 3 years down the line if theres the same offer of HP as the one he has now.


I think his neighbor wants to get the car repaired in all honesty, and the advice within my post for that issue is they way forward get as many companies that can help make some noise to get it done.


if they cant get it done, then yes the OP friend has choices but I know I would rather get the balloon payment out the way so im not tied to finance, get the car paid outright and either keep it for a while till I could save for a deposit for another vehicle or private sale or another type of HP deal with another manufacturer and use the car as part ex, in either case its not going to affect his credit rating to obtain another finance deal.

Not disagreeing but there's no mention of money to settle the lump sum. So buying the car outright with existing problems to sell it possibly at a loss possibily to have another on finance.

Are you really suggesting that's the best option?

Bearing in mind not everyone is in your position of having to use the money up to avoid having savings.

colino

I wonder about the sanity of focusing on dealing with the finance, with the intention of keeping, a car that has been consistently faulty from new. Is it going to self-repair as it ages?
As an expensive, daily driver, get the faults fixed properly now and then look for a replacement.

atrixblue.-MFR-.

Spicy_McHaggis wrote: »

Not disagreeing but there's no mention of money to settle the lump sum. So buying the car outright with existing problems to sell it possibly at a loss possibily to have another on finance.

Are you really suggesting that's the best option?

Bearing in mind not everyone is in your position of having to use the money up to avoid having savings.

re read my original post I said "I hope this has been an issue from new when ordered or purchased?

TBH after 3rd attempt to rectify failed I would have been insisting the dealership replace it with the same model or demanding money back.


Has he contacted PUG UK HQ? and complained they haven't fixed it?


His best Option is to be making some noise at this point"


if you'd read my post you know I wasn't saying the finance options was his best option!

Spicy_McHaggis

atrixblue.-MFR-. wrote: »

re read my original post I said "I hope this has been an issue from new when ordered or purchased?

TBH after 3rd attempt to rectify failed I would have been insisting the dealership replace it with the same model or demanding money back.


Has he contacted PUG UK HQ? and complained they haven't fixed it?


His best Option is to be making some noise at this point"


if you'd read my post you know I wasn't saying the finance options was his best option!

So he sorts the problems with Peugeot and then what?

Throw more money into it in the hope it doesn't fail again, he's best shot of the car by either walking away or using it as a deposit on another.

loskie

Peugeot HQ will have nothing to do with the car. it is the supplying dealer and the finance co who the contract is with.

atrixblue.-MFR-.

Spicy_McHaggis wrote: »

So he sorts the problems with Peugeot and then what?

Throw more money into it in the hope it doesn't fail again, he's best shot of the car by either walking away or using it as a deposit on another.

Then what is he keeps it because and quote from OP:


quote- "He likes the car and wants to keep it as he doesn't have the money to go and start over again, but is understandably nervous about what happens when he owns it outright and the warranty disappears".


what you proposed to use as a deposit on another HP, well its stated there in black and white he doesn't have the funds or maybe the credit rating to get one hence why he intends to pay the balloon and keep it so long as its been repaired.