Part exchange dilemma. Help please.

boltondrew

Hi I would appreciate any advice on what to do and what rights we have. So yesterday we drove to a main car dealers to view a used approved car. we liked the car and at the time was going to part exchange our car as part payment. We have since decided that we would be better off keeping both cars and paying full cash price for the new car as my mrs would be able to use the smaller car to commute. Not a problem or so we thought. Rang the dealer first thing in the morning to notify them of our intentions bare in mind that we signed for the car late on just before the garage closed. At 9am we was told that they had taken a deposit for our car and that it was a done deal even though we still have the car and log book and only payed a £500 holding deposit for the new car. What are we liable for now? Does the dealer have the right to take a deposit for a car that they do not yet own? We still want to buy the new car will we lose the deposit if we don't trade our car in? help please we have just had a baby 5 days ago hence the rush to buy a bigger car and have enough stress on our plate, my mrs really wants to keep her car.

Thanks in advance.

DUTR

What is on the agreement? Having a baby has nothing to do with the issue above, problems are solved on logic not emotion.

boltondrew

Yes I understand that. On the agreement is the total price, the part exchange allowance, the balance outstanding, the cash deposit and other irrelavent listings then the final payment due. vheicle details, part exchange details, owners declaration, purchasers declaration, sellers acceptance, and then a terms and conditions page with no terms and conditions on??

In reality what can they do if we don't take our car to trade in?

cheers

DUTR

boltondrew wrote: »

Yes I understand that. On the agreement is the total price, the part exchange allowance, the balance outstanding, the cash deposit and other irrelavent listings then the final payment due. vheicle details, part exchange details, owners declaration, purchasers declaration, sellers acceptance, and then a terms and conditions page with no terms and conditions on??

In reality what can they do if we don't take our car to trade in?

cheers

Logically, the invoice balance price is that of the screen price less the deposit. To me they cannot force you to px your car (what if the car had got stolen or smashed etc) .
Contact them again and inform them the px is no longer available.

boltondrew

I have already done this to which they replied that they have already taken a deposit on our car. Technically the car is still ours until we exchange log book and keys so how that is legal i do not know.

DUTR

boltondrew wrote: »

I have already done this to which they replied that they have already taken a deposit on our car. Technically the car is still ours until we exchange log book and keys so how that is legal i do not know.

They can say what they like, they either pull the deal and return your deposit , or request the screen price less the deposit to complete the deal.

boltondrew

Would we be liable to pay any admin costs or compensate them for there time?

DUTR

boltondrew wrote: »

Would we be liable to pay any admin costs or compensate them for there time?

On what basis?
They haven't got a sale on the PX, what person in their right mind would put a deposit on a previously owned car without even looking at it?

boltondrew

I think its some sort of internal sale/agreement with another branch from what i made of it the car went online last night (or so they say) yet they were too busy to get the new car ready until monday, and they took a deposit from there kendal branch. we rang at 9am and was told they would find out if the car had been sold and call us back. It got to about 3pm until we called them back and demanded it gets sorted asap and was then told this about the deposit being taken. I suspect they have set up some kind of internal agreement in order to try and keep our deposit to cover there admin costs in finding the buyer an alternative.

DUTR

boltondrew wrote: »

I think its some sort of internal sale/agreement with another branch from what i made of it the car went online last night (or so they say) yet they were too busy to get the new car ready until monday, and they took a deposit from there kendal branch. we rang at 9am and was told they would find out if the car had been sold and call us back. It got to about 3pm until we called them back and demanded it gets sorted asap and was then told this about the deposit being taken. I suspect they have set up some kind of internal agreement in order to try and keep our deposit to cover there admin costs in finding the buyer an alternative.

What sort of car were you px'ing for it to be sold before seen? Unless it's something of a supercar and in pristine condition etc, to be fair they will be two for a penny availabilty.

boltondrew

Its just a small hatchback 2012 reg nothing special.