Please Help New Car Engine failed and dealers closed

Stageshoot

n217970 wrote: »

Its a used M5, people dont buy them to tootle round in. At the moment I am trying to persuade my kid brother (also somewhat impulsive) that a used Focus ST is a bad idea, but as always with the yoof - they know best.

That made me smile as I have just come back from inspecting an ST that a "Yoof" was driving, when the little sweetheart said it slipped on some oil on the roundabout and then the wheel fell off!! But was not doing more than 10mph. Honest...

Tommy1966

Car is being collected tomorrow, my full deposit plus one payment is being returned, they are keeping one payment due to mileage increase, im not too happy about it but seeing as last week I was at risk of losing alot more ill happily take that one on the chin. All this has been with the finance company as like previously stated Trader has closed. Big lesson learnt and a big relief now is resolved. I probably wont post on here again for a while as my only intention was to gain advice. Thank you to those that have helped.

Tommy1966

LandyAndy to answer your question I think how it works is the finance company pay for the car in full and my deposit goes to the finance. other wise if i was to put down say a 20k deposit the finance company would get my car for 10k if I failed to make remaining payments. this way the finance company get the total sum once ive made all the payments and the traders receive their full agreed price on sale and in a situation like this the finance company can refund me without myself or them being left heavily out of pocket not having the deposit to return.