Need advice on Car finance

sahs1

Hi all , this is my very first post and I’m really looking for some advice so anything would be greatly appreciated!!!
My partner has been today and brought a car on finance,
The garage put his application through and he got accepted on an 0% finance deal over 54months on a car that’s a 14 plate, it seemed to be too good to be true ?!
He got accepted he signed all paperwork and paid a deposit everything fine and was looking forward to picking in a few days time.
We were on our home and the garage rung us just before close of business and said there had been a mistake and they couldn’t sell us the car on 0% as the garage would have to pay 20% of the price to the finance company ?
Who’s at fault here ?
I don’t understand this as the agreement is up and running online ?
Can anyone help me

parking_question_chap

Read the paperwork, if its all signed and they made a mistake you have got a good deal.

Dont let them push you into getting it amended or cancelled.

Note this post is based on zero legal knowledge.

Though 4 and a half years seems a long time to pay off a 5 year old car, what is it?

sahs1

The car is a focus st and the garage have said we can have our deposit back or have the car on 7.4 % instead ??

scd3scd4

If its signed then that's that. If not signed then you have to have a think.


Can you imagine trying to get the rate reduced it you made a mistake?

AndyMc.....

scd3scd4 wrote: »

If its signed then that's that. If not signed then you have to have a think.


Can you imagine trying to get the rate reduced it you made a mistake?

So what of it's signed?

There's two issues here, the finance and the purchase. If the finance company won't give 0% how is the car going to be purchased?

sahs1

The finance company have agreed to the 0% percent deal we have all signed paperwork
It’s the garage that rung us and said there’s been a mistake and that the garage would have to pay the finance company 20% of the asking price ?
Doesn’t sound right ?

daveyjp

54 months is 4.5 years.

The car is almost 5 years old.

That's a long time to pay for a car which will soon start to need repairs.

I'd take it back, get the cash back and think about the finance position again.

parking_question_chap

Yes, its a performance car. If your partner cannot afford it outright how can they afford the expensive bills that might be down the road (pun intended)

I would be inclined to tell the dealership you will agree to cancel the whole thing for 2x the deposit returned. It will get them and you out of an expensive mistake.

sahs1

Unfortunately we are unable to pay for a car outright so 4 and half years is a good time period , as for repairs my son is in the trade and does all our repairs.
I think the garage has made a mistake or they have had a better offer on the car and are trying to get out of the 0% percent offer

DUTR

sahs1 wrote: »

Unfortunately we are unable to pay for a car outright so 4 and half years is a good time period , as for repairs my son is in the trade and does all our repairs.
I think the garage has made a mistake or they have had a better offer on the car and are trying to get out of the 0% percent offer

Or that is what the outfit does....bait and switch, back out of the deal, and go elsewhere.

Scrapit

So you've not taken delivery of the vehicle yet?