Incorrect Finance Details - Finance Deal Invalid?

James333

Hi,

I would appreciate if someone could look at the below and advise if we have a case against BMW.

-Ordered new Car from BMW, agreed trade in with our current model against new one.
Signed finance docs, arrived to collect car – it was different to what was ordered – Manual not auto.

-Hours later, sourced car very similar to ordered and agreed to offer same finance deal – slightly better spec than ordered but offered to keep price the same due to the problems caused.

-This car had been registered by BMW as was due to be a showroom car – new finance agreement showed value of new car but said it was for a used car due to being registered by BMW.

-Agreed to proceed as usually always return our cars back to dealers to swap for new models, sales rep advised that the fact it was showing as used wouldn’t make a difference when we returned as they knew it was a brand new car.

-Due to a change in circumstance we are about to purchase a new car and will be settling the finance, however due to the V5 showing 2 owners we are being offered a lower value from all potential buyers.

-Looking back over the finance details, BMW have specified the car was registered on 1st March 2016, the DVLA is showing as the 01st September 2016 – we purchased on 03rd Sept with 1 mile on the clock.

Have BMW purposely lied on the finance documents?
If they had put the correct registration date and the sale date 2 days later I am guessing the finance company would have been suspicious, is this why they have incorrectly backdated the registration date?

macman

You were conned: even with one mile on the clock and two days ownership by BMW, it's a pre-reg vehicle and as such was worth several thousand less than new on the day you bought it. If you were keeping it for five years then the difference would be much less, but after two years it still matters.
All depends what evidence you have of what the rep said. He is probably long gone, and if it was verbal only then you cannot prove it.

James333

Thanks for your reply. Originally the plan was to keep the car for the 4 year term, like you said making the issue small. However the change in circumstances means that this now presents itself as a larger issue. In regards to evidence, this was discussed with a number of the staff on the day and I still have documentation for the original car ordered. I can prove that we ordered a brand new car and also have proof of the mileage on this one.

Where would I initially raise this complaint? Go back to the sales rep or to the finance company?

Thanks

DoaM

Raise it initially with the sales company (not specifically the rep - he might not still be there. After all, you bought from the company not the rep). If you get no joy that way then try the finance company.

CardinalWolsey

This all comes down to who can prove what. Are you able to prove how the car was sold to you? Are BMW able to prove that you knew you were taking delivery of a pre-reg car, rather than a brand new one, as opposed to you only now finding out now that you have come to sell it...

Nobbie1967

I'm not sure you have much of a case. BMW messed up with the original order, but you agreed with the proposal put forward by BMW for a higher spec, pre reg car. The time to say 'no deal' was then.

Surely it's to your advantage that the car was registered on 1st Sept rather than 1st March as stated on the finance docs, or the car would be worth £££ less now as it would be deemed six months older?

James333

Nobbie1967 wrote: »

I'm not sure you have much of a case. BMW messed up with the original order, but you agreed with the proposal put forward by BMW for a higher spec, pre reg car. The time to say 'no deal' was then.

Surely it's to your advantage that the car was registered on 1st Sept rather than 1st March as stated on the finance docs, or the car would be worth £££ less now as it would be deemed six months older?

Thanks for replying. Yes it is an advantage to me that that the car was registered on 1st Sept. I am not disputing this aspect, more challenging to as to why they used an incorrect date on the documentation. My thinking is would the finance company, finance a car as used one day after the car was registered with 1 mile on the clock? Or have BMW purposely put the incorrect date to make the car look like its a 6 month old car?

I remember speaking to another sales person a few weeks after at a separate garage, he said they aren't allowed to do what they did but I can't remember the exact reason's that he stated!

motorguy

James333 wrote: »

Hi,

I would appreciate if someone could look at the below and advise if we have a case against BMW.

-Ordered new Car from BMW, agreed trade in with our current model against new one.
Signed finance docs, arrived to collect car !!!8211; it was different to what was ordered !!!8211; Manual not auto.

-Hours later, sourced car very similar to ordered and agreed to offer same finance deal !!!8211; slightly better spec than ordered but offered to keep price the same due to the problems caused.

-This car had been registered by BMW as was due to be a showroom car !!!8211; new finance agreement showed value of new car but said it was for a used car due to being registered by BMW.

-Agreed to proceed as usually always return our cars back to dealers to swap for new models, sales rep advised that the fact it was showing as used wouldn!!!8217;t make a difference when we returned as they knew it was a brand new car.

-Due to a change in circumstance we are about to purchase a new car and will be settling the finance, however due to the V5 showing 2 owners we are being offered a lower value from all potential buyers.

-Looking back over the finance details, BMW have specified the car was registered on 1st March 2016, the DVLA is showing as the 01st September 2016 !!!8211; we purchased on 03rd Sept with 1 mile on the clock.

Have BMW purposely lied on the finance documents?
If they had put the correct registration date and the sale date 2 days later I am guessing the finance company would have been suspicious, is this why they have incorrectly backdated the registration date?

What is your expectiation here?

You ask "is the finance deal invalid?" in the title. No, its not. It might not have a wholly accurate representation of the deal, however it will clearly state you are financing that car for that amount. So its a valid contract, and no you're not entitled to a full refund and / or compensation

Secondly, you knew it had been pre-registered before you paid for it, so i'm not seeing the issue there?

The salesman told you THEY wouldnt devalue the car come trade in time, but he offered no guarantee others wouldnt?

Any dealer offering you less because it has two owners (one being the BMW dealership) is yanking your chain frankly. Laugh in their faces and tell them to catch themselves on.

James333

motorguy wrote: »

What is your expectiation here?

You ask "is the finance deal invalid?" in the title. No, its not. It might not have a wholly accurate representation of the deal, however it will clearly state you are financing that car for that amount. So its a valid contract, and no you're not entitled to a full refund and / or compensation

Secondly, you knew it had been pre-registered before you paid for it, so i'm not seeing the issue there?

The salesman told you THEY wouldnt devalue the car come trade in time, but he offered no guarantee others wouldnt?

Any dealer offering you less because it has two owners (one being the BMW dealership) is yanking your chain frankly. Laugh in their faces and tell them to catch themselves on.

Thanks for replying. Just to be clear, I am not looking to get a refund for any funds! I have been more than happy with the car, it's just not suitable for what we need now. My only reason for asking the question is it makes it a lot easier to simply say to BMW, you've messed this up I will return the car back to you and be done with it. If this isn't the case however I will settle the finance and move on.

I was only asking these questions as another garage was looking over my finance details to work out our settlement figure when they noticed the errors.

motorguy

James333 wrote: »

Thanks for replying. Just to be clear, I am not looking to get a refund for any funds! I have been more than happy with the car, it's just not suitable for what we need now. My only reason for asking the question is it makes it a lot easier to simply say to BMW, you've messed this up I will return the car back to you and be done with it. If this isn't the case however I will settle the finance and move on.

Sadly thats never going to happen as you're dealing with two entities - firstly the dealer who may have purposely or otherwise filled in the wrong details, and secondly the finance company. You cant just hand the car back on the basis of the finance paperwork being a little bit out of line. Thats not how it works. You've financed that specific car for that specific amount at that specific rate and signed for it.

James333 wrote: »

I was only asking these questions as another garage was looking over my finance details to work out our settlement figure when they noticed the errors.

I wouldnt be handing any dealer my current finance details - you're playing an awful lot of your hand if you do. You're giving him info on your current payments, how much deposit you previously put in, how long the agreement has to run and immediately giving him info to find out your settlement figure.

All too often the dealer will miraculously pitch the trade in figure based on what he knows about you / your current deal / your settlement figure rather than the ACTUAL value of the car.

Also in this instance you've given the new dealer the opportunity to paw over the contract find "mistakes" and therefore help show hes really looking after your bestest interest compared to that really bad dealer you went to before.

Get them to value your car, THEN give them the settlement figure - you should be able to just ring the finance company yourself and ask.

neilmcl

James333 wrote: »

Thanks for replying. Yes it is an advantage to me that that the car was registered on 1st Sept. I am not disputing this aspect, more challenging to as to why they used an incorrect date on the documentation. My thinking is would the finance company, finance a car as used one day after the car was registered with 1 mile on the clock? Or have BMW purposely put the incorrect date to make the car look like its a 6 month old car?

I remember speaking to another sales person a few weeks after at a separate garage, he said they aren't allowed to do what they did but I can't remember the exact reason's that he stated!

It is a 16 or 66 plate? I don't really think it matters what date they've put in the finance docs, it may well have just been simple mistake and shouldn't effect anything in terms of the finance. Also I don't really think you've been conned, you accepted that it was pre-regsitered when you purchased it.