PCP Loan Help

Raquella01

Hi, I just need a bit of advice as I'm pretty sure that I'm having the wool pulled over my eyes by the dealership that I've just purchased my car from. So here is the situation that I find myself in:
I ordered my new car on 28th March direct from the main dealer and signed up to their PCP agreement. The person that was dealing with the finance side of things told me that the car needed to be registered on the 30th March but it wouldn't be available for me to pick up until 10 days after I ordered / mid April time which is not an issue. However I have received the log book for the car and my PCP agreement has been set up to commence from 30th March. I was under the impression that PCP could not begin until I actually had the car in my possession!!

Can anyone offer any advice? I've tried speaking to the dealership but they're saying that I would have paid more for the car if the PCP would have been set up later but I know this is rubbish as they just wanted to make their end of quarter financials.

Thanks in advance and apologies for the long post.

DCFC79

What does the agreement say ?
I take it you do have a copy ?

Raquella01

So I've just had a read and it says:
We will provide the amount of credit to you for the goods on (i) the delivery of the goods to you or (ii) if earlier, the goods being made available for you to take delivery.
So as I've not taken delivery and its not available for me to take delivery the agreement shouldn't have started yet....am I reading that right?

BoGoF

So what makes you think the finance has started? Receipt of the log book?

DrEskimo

It's probably just been proposed and accepted.

I had to do this, as the £1,000 deposit contribution they were offering was going to be discontinued before the car was available to pick up (reduced to £500). They don't actually start the agreement until you go to the dealership and sign the remaining paperwork.

Incidentally it was of little concern to me as I settled it a couple of weeks later...but in the grand scheme of things, starting the agreement 10-15 days earlier is hardly going to make a massive difference to the total cost. Particularly as it's entirely feasible that you have saved money by doing it earlier....

Raquella01

I've been set up with my online account and it states that the start date is the 30th March 2019 and the end date as 30th March 2023.