End of lease. Balance payment.

andersbrand1

Hi

New to the site and would be grateful for anyones help here.

Myself and my brother both have an Audi lease agreement.
Both business PCP deals.

Term ended yesterday 30.12.2017 on both cars. All paid. 30 month deals no payments missed.

I have just found on 29.12.2017 after contacting Audi Finance that the balloon payment of £24,850 plus admin x 2 will be leaving our account 30.12.2017 (circa 50k)

We handed the cars back as agreed on the 29.12.2017. New deals arranged back in September.
New cars / deals do not start until March 2018.
(new deals are also personal this time not attached to business)

Unfortunately the Audi garage we deal with had not informed us that we had to contact Audi finance and clarify that we would be returning the vehicles with them directly and stop the balance payment due.

The guy at Audi who got us the deal says Audi finance should have contacted myself detailing what we had to do with regards to the current deals. Received no contact but I can see it is on the terms and conditions so my fault.

I cancelled the 2 direct debits on the 29.12.2017. Audi could not stop the payments due to leave our account on the 30th, cancellation too close to DD date.

I have also been told today that they will try take the payment again in 10 days time and if
not paid it will default. The same gentlemen at Audi finance stated that there is nothing else I can do if payment could not be made.
he also stated even though there is 10 days (not sure if this is business days) they still could not stop the payment due.

Next up he said the accounts would default.

I do not have enough in my business account to pay the balance and continue operating.

Has anyone any experience of this sort of situation? Can I do anything?

Regards

jonesMUFCforever

I find the bit that the AUDI garage and finance company not talking to each other highly unbelievable ....sorry - otherwise nice one.

andersbrand1

Hi


AUDI garage and finance company not talking to each other highly unbelievable
Thinking about it afterwards I do agree with your reply.

After initially learning of the balance due to leave my account from finance I waited to see the main dealer (day after) with the guy who arranged our deals to confirm the return of the vehicles. He initially spoke to finance then passed onto me. I had to run through the t&c and then state that the cars have now been returned.

As i was too late in notifying finance it has started a chain of events. The main dealer and the finance operate did both state to cancel the direct debits which I did do, but neither could offer any concrete advise as to what else I can do. It was a later call back to a different gentlemen at finance who was a straight talker and stated there was nothing i could do.

Payment would be tried on the 30th and again in 10 days time after this date.

The gentlemen at Audi has since said he will take another look next week. We have paid deposits on new deals (likely lose if we cancel ) so not sure if Audi are bothered if i say screw these deals!

jonesMUFCforever

So what are you going to do for transport for next 3 months - going on the bus will do nothing for your street cred.

andersbrand1

Hi


Trolls what?

Transport I have a company van which is more beneficial to use.
Fuel through business etc... Why what does that have to do with the question I have added to the site?

The reason I did not secure any deal earlier is my business was in trouble last summer.

Story is nonsense!! thanks for the reply chump!!

I saw I had extra reply's this morning and hoped someone may have additional advice.

It seems it is your life that could be empty as you have replied to a thread you have little knowledge about and on New Years Day.

andersbrand1

Company van. Why?

[Deleted User]

andersbrand1 wrote: »

It seems it is your life that could be empty as you have replied to a thread you have little knowledge about and on New Years Day.

No one has "knowledge" about it because its completely made up.

andersbrand1

What part of my situation seems so unbelievable?


I am intrigued.

The_Real_Cheddar_Bob

take out a loan, make the payment.
What is unbelievable is a business person not being aware you need to give notice to the finance company to hand the car back.

I sold my pcp motor to a mini dealer and I had to pay to cover the negative equity. Even though the dealer told me it was clear, I didn't leave the dealership until the finance company (bmw) had confirmef.

as above, nice attempt

andersbrand1

rjwr


"What is unbelievable is a business person not being aware you need to give notice to the finance company to hand the car back"


Right so that is what no one believes.

Believe it as I have not done so. Well not quite true I did contact them but not in time to stop
the charge. Sure I wont be the last! Anyhow Ive screwed up but this is now the predicament I am in.

These are our second cars from Audi. Same garage same guy sorted the deals.
The first agreements/cars were business lease, (crap deals but were our first cars on the business)
The deals were totally taken care of by the dealer. I do remember speaking with finance at some point
but it was through the dealer. So I presumed all this was sorted by him.

I have 10 days to cover the bill then. Thanks for the reply.

jonesMUFCforever

If it DID happen then IMO you have a rotten sense of business with the new deals.
No VAT reclaim on personal vehicles for a start.