Pcp ripoff

Jk911

I have s bow on a pcp deal, basically the car does not suit our needs anymore ( 3 dr) so I'm looking to trade it in for a 5dr car.

I contacted Audi and found a car, after being messed about by one salesman I struck a deal with another salesman.

They offered me £23750 for my car against their car £27350, the deal was £2k deposit and £405 per month over 48months , Gfv £11300 @ 5.9% Apr.

Trouble is I owed £24750 on my car leaving £1000 negative equity, I asked the Audi dealer if they could do anything.

I explained I didn't want to add to the finance or put more deposit so if they couldn't swallow up the £1k that I would have to pass on the car.

I was very specific and the dealer came back and said they would take the hit to do the deal.

I removed my private number from my car and paid a deposit on the Audi, then I received the finance agreement, it appears they have put the extra £1k on my finance even though I specifically stated this could not happen.

After asking for an explanation the business manager said it shouldn't matter as we got to your target figure for the monthlies " so what's your problem"?.

My problem is I feel duped by the dealer and feel they have acted dishonest or at worst fraudulently, I have since rejected the car.

My question is , can this practice be legal ?
How many people have been ripped off in this way without knowing?

Any advice on what to do?

neilmcl

I'm having trouble understanding your post. How is this a rip off if your payments are staying the same.

Jk911 wrote: »

I have s bow on a pcp deal

What is one of those btw?

k3lvc

So have you signed the agreement/collected the car and then rejected it or just backed out of the deal ?

Jk911 wrote: »

I have since rejected the car

How exactly was the £1k 'lost' - assuming the overall deal stayed the same (£2k deposit, 48m @ £405 plus £11.3k) I'm not sure what your issue is ?

k3lvc

Jk911 wrote: »

I have s bow on a pcp deal, basically the car does not suit our needs anymore ( 3 dr) so I'm looking to trade it in for a 5dr car.

neilmcl wrote: »

What is one of those btw?

I'm assuming a BMW rather than a KTM X-Bow

Jk911

neilmcl wrote: »

I'm having trouble understanding your post. How is this a rip off if your payments are staying the same.

Because the payments would've dropped if they hadn't added the £1k to my finance.

What is one of those btw?

Bmw ( auto correct)

neilmcl

k3lvc wrote: »

So have you signed the agreement/collected the car and then rejected it or just backed out of the deal ?



How exactly was the £1k 'lost' - assuming the overall deal stayed the same (£2k deposit, 48m @ £405 plus £11.3k) I'm not sure what your issue is ?

TBH, those figure don't add up anyway. If £27350 was the purchase price then the monthlies should be £390.79.

OP, can we see your full breakdown as shown in your credit agreement?

Jk911

k3lvc wrote: »

So have you signed the agreement/collected the car and then rejected it or just backed out of the deal ?



How exactly was the £1k 'lost' - assuming the overall deal stayed the same (£2k deposit, 48m @ £405 plus £11.3k) I'm not sure what your issue is ?

I backed out of the deal, those figures were offered after the £1k was supposed to have been swallowed by the dealer.

The payments would've been less had they not added the £1k to the finance.

My issue is they did this even though I said I did not want this to happen.

k3lvc

Jk911 wrote: »

I backed out of the deal, those figures were offered after the £1k was supposed to have been swallowed by the dealer.

The payments would've been less had they not added the £1k to the finance.

My issue is they did this even though I said I did not want this to happen.

So do you have a written quote with the lower payments or just an assumption that they could have gone lower than they offered ?

Assuming the finances work out and they have genuinely 'lost' the £1k to seal the deal then you seem to be cutting your nose off to spite your face because you think you could have got a better deal

Jk911

neilmcl wrote: »

TBH, those figure don't add up anyway. If £27350 was the purchase price then the monthlies should be £390.79.

OP, can we see your full breakdown as shown in your credit agreement?

Not sure how to add the document?

Jk911

k3lvc wrote: »

So do you have a written quote with the lower payments or just an assumption that they could have gone lower than they offered ?

Assuming the finances work out and they have genuinely 'lost' the £1k to seal the deal then you seem to be cutting your nose off to spite your face because you think you could have got a better deal

Not at all, the deal that was offered by the salesman over the phone was not the deal that was sent via email.

£27350 price of car
£2000 deposit
£25350 to finance

£26650 actual amount financed @£405 per month.

So they have lost the extra £1k by adding to my finance ( plus interest)

neilmcl

Jk911 wrote: »

Not sure how to add the document?

Just type in the relevant information.

Bottom line was the deposit amount and monthly repayments the amount you originally agreed, as you stated in your post?