finance on a faulty vehicle

koda998

I have had tons of mechanical issues with my vehicle since day one, the finance company has been very slow to deal with theses issues.

currently the cars 6 months old and is sitting on the driveway due to it being underivable.
I have started the rejection process with the financial ombudsman however this is going to take 3-6months.
so effectively I will have to keep paying for a car I can't drive for the next 6months.

Is there anyway that I can sell the car privately and then pay of the finance shortfall? then take the finance company to court in attempts to get that money back?

foxy-stoat

koda998 wrote: »

Is there anyway that I can sell the car privately and then pay of the finance shortfall? then take the finance company to court in attempts to get that money back?

That would not be advisable.

Normal procedure is the dealer has 1 chance to repair the fault then you can reject.

If its only 6 months old then it will be under manufacturers warranty - why has this not been collected by the main dealer and sorted out?

Geodark

If the car is so bad and isnt drivable, then who is going to buy it unless you sell it at a massive loss.

motorguy

koda998 wrote: »

I have had tons of mechanical issues with my vehicle since day one, the finance company has been very slow to deal with theses issues.

currently the cars 6 months old and is sitting on the driveway due to it being underivable.
I have started the rejection process with the financial ombudsman however this is going to take 3-6months.
so effectively I will have to keep paying for a car I can't drive for the next 6months.

Is there anyway that I can sell the car privately and then pay of the finance shortfall? then take the finance company to court in attempts to get that money back?

As has been said, you'd have to take a MASSIVE loss on the car to sell it in its non working condition, and then try to recover that from the finance company. I dont think thats a viable option.

AdrianC

It was a brand spankin' new car six months ago?

Why is it on your drive, undriveable, and not in the dealer's workshop being dealt with under warranty?

Why is the finance company being "very slow to deal with these issues", and not the dealer?

sheramber

What happened to the new BMW you paid a deposit for and was due to be delivered in January while you were working on Scotland?

TadleyBaggie

It was a leased Land Rover in November according to a past post, so selling wouldn't ever be an option.

https://forums.moneysavingexpert.com/discussion/5929276/leased-vehicle-missing-options

foxy-stoat

They should be able to dump it back at the dealers and get them to sort it.