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Car dealership messing me around?
Hi,
I recently went to well known car dealership to look at a car I had seen on their website. While I was there, I spoke to the sales guy and decided that I wanted the car and would be applying for finance. Went through all the paper work, took the car for a test drive etc...was told when I was leaving the dealership (on a Saturday evening), that they will phone me on the Monday to tell me if I had been successful in getting finance and confirming that I could pick the car up on the Tuesday evening. The sales guy never went through any problems that could arise and I was surprised when I called the branch for an update (on the Tuesday because nobody bothered to call me on Monday, they then lied and said they didn't receive word about the fiance until 8pm, when I found out it was midday Monday), to be told that I have bad credit (I don't!) and the finance had gone through, but with a sub prime loan company and I wouldn't be able to get the car until the finance company pay them for the car.
I went down to the branch and spoke to a different sales guy as the initial sales guy was now on holiday, and learnt that the warranty that I had agreed to purchase was not a 2 year warranty, but a 10 month warranty. I then decided that I didn't want to pay nearly £500 for a 10 month warranty and wanted this changing on the finance agreement. I was told by the sales guy and his manager that this couldn't be honoured and I would have to resubmit the application for finance and I would almost definitely not get accepted and should just stick with the warranty. I proceeded with resubmitting the application and was accepted. I then went back the following evening to sign the finance papers and was told by the sales guy that I would receive a call from him the following day to update me and give me a timescale of when the company would pay me the finance, and when I would then be able to collect the car. I haven't received any call and it is now nearly Monday. I am planning to call tomorrow and ask them what is going on, but was wondering whether anyone has had an experience like this before? I don't have ALOT of credit history and this is why it has gone to subprime, not because I have bad credit, but is it usual for the dealer not to let the car go until the finance company pay them, or am I being had off? With all that has happened, I'm ready to walk away and lose my deposit.
Sorry that this is so long!
I recently went to well known car dealership to look at a car I had seen on their website. While I was there, I spoke to the sales guy and decided that I wanted the car and would be applying for finance. Went through all the paper work, took the car for a test drive etc...was told when I was leaving the dealership (on a Saturday evening), that they will phone me on the Monday to tell me if I had been successful in getting finance and confirming that I could pick the car up on the Tuesday evening. The sales guy never went through any problems that could arise and I was surprised when I called the branch for an update (on the Tuesday because nobody bothered to call me on Monday, they then lied and said they didn't receive word about the fiance until 8pm, when I found out it was midday Monday), to be told that I have bad credit (I don't!) and the finance had gone through, but with a sub prime loan company and I wouldn't be able to get the car until the finance company pay them for the car.
I went down to the branch and spoke to a different sales guy as the initial sales guy was now on holiday, and learnt that the warranty that I had agreed to purchase was not a 2 year warranty, but a 10 month warranty. I then decided that I didn't want to pay nearly £500 for a 10 month warranty and wanted this changing on the finance agreement. I was told by the sales guy and his manager that this couldn't be honoured and I would have to resubmit the application for finance and I would almost definitely not get accepted and should just stick with the warranty. I proceeded with resubmitting the application and was accepted. I then went back the following evening to sign the finance papers and was told by the sales guy that I would receive a call from him the following day to update me and give me a timescale of when the company would pay me the finance, and when I would then be able to collect the car. I haven't received any call and it is now nearly Monday. I am planning to call tomorrow and ask them what is going on, but was wondering whether anyone has had an experience like this before? I don't have ALOT of credit history and this is why it has gone to subprime, not because I have bad credit, but is it usual for the dealer not to let the car go until the finance company pay them, or am I being had off? With all that has happened, I'm ready to walk away and lose my deposit.
Sorry that this is so long!
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Comments
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This is why I prefer just to get a loan. I then agree the figure to change the car & call back in a few days. It is then a simple matter of signing the paperwork & putting my debit card in the dealers terminal. Then drive away with no dealer playing loose with the interest rates etc.
Just my way & not suitable for all.0 -
The trouble with just borrowing some money, and then spending it on a car, is that you lose all your rights under Section 75 of the Consumer Credit Act.If it sticks, force it.
If it breaks, well it wasn't working right anyway.0 -
The dealers aren't going to let you drive away the car until the finance company have definitely agreed to pay them. They are probably hunting down the deal that pays them the most commission, because they are relying on that to bump up their profit margin.
Make sure you don't get fleeced on the interest rates. Sub-prime loans can be extortionate, and you could end up paying for the car many times over.If it sticks, force it.
If it breaks, well it wasn't working right anyway.0 -
Why would anyone selling anything let a customer walk off with their stock prior to being paid?0
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I am struggling to see what the Dealer has done wrong.0
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I too can't see what the dealer has done wrong as such.
They sound like a typical place specialising in attracting buyers who can't get normal credit, visiting such a place isn't the best way to get out of that situation because you are going to pay way over the odds for the finance and pay way too much for a warranty not worth the paper its printed on.
However this isn't the fault of such dealerships, they exist, they serve a purpose of selling cars to people who would be better served buying cheapies for what cash they have.
If people willingly put their heads in the shark's mouth they shouldn't be surprised when he takes a chunk.0 -
This is why I prefer just to get a loan. I then agree the figure to change the car & call back in a few days. It is then a simple matter of signing the paperwork & putting my debit card in the dealers terminal. Then drive away with no dealer playing loose with the interest rates etc.
Just my way & not suitable for all.
In the op's case it's more likely they would get finance on a vehicle than be able to get a loan.
The dealers done nothing wrong op. I bet you wouldn't let some stranger drive off with your car without being paid.0 -
to be told that I have bad credit (I don't!) and the finance had gone through, but with a sub prime loan company and I wouldn't be able to get the car until the finance company pay them for the car.
I ... learnt that the warranty that I had agreed to purchase was not a 2 year warranty, but a 10 month warranty. I then decided that I didn't want to pay nearly £500 for a 10 month warranty and wanted this changing on the finance agreement. I was told by the sales guy and his manager that this couldn't be honoured and I would have to resubmit the application for finance and I would almost definitely not get accepted and should just stick with the warranty.
Sounds like the warranty is provided by the finance company.but is it usual for the dealer not to let the car go until the finance company pay them
Read that back to yourself. and have a think about why that might be.0 -
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Hi, not sure what benefits there are from that. Any ideas?
I pay the deposit by credit card so does that give me some cover ?
Yes, part-paying by credit card makes all the difference.
http://www.moneysavingexpert.com/shopping/section75-protect-your-purchasesIf it sticks, force it.
If it breaks, well it wasn't working right anyway.0
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