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Won’t sell me car as I don’t want finance

edited 30 November -1 at 1:00AM in Motoring
69 replies 4.1K views
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  • HerzlosHerzlos Forumite
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    tealady wrote: »
    It could be that it had been sold to someone who was going to buy on finance, then didn't complete on the sale. Also one salesperson may have been dealing with you and hasdn't told their colleagues.
    So, possibly they lied, possibly they didn't.


    It's also possible that the other guy you spoke to didn't realise you were the same buyer as the other sales guy and thus thought it was sold (to you).


    As somebody else said they're probably worried about money laundering... unless you're absolutely loaded not many people have 20k cash for a car so maybe this particular branch isnt used to having such high cash sales.


    I don't think he literally meant paying with a pile of notes (dealers aren't allowed to take more than £5k in cash for laundering reasons, many won't take more than £1k as it's a pain to deal with). Presumably he was going to pay by card/bank transfer rather than credit.


    What's so special about this car that means you need to buy that one from that dealer?
  • SupersonosSupersonos Forumite
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    Stratus wrote: »
    If, as the OP suspects, the dealer might be in breach of Consumer Protection from Unfair Trading 2008.

    Those don't apply.

    The trader is offering the goods for sale at the price advertised, it's the OP who doesn't want to buy the offered goods at the advertised price using the finance product also offered.
  • MercdriverMercdriver Forumite
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    Personally I wouldn't be wanting to deal further with the dealer. However, if that is genuinely the only place to get the car, then it might be worth getting some form of professional advice (CAB should be sufficient) as to whether the dealer is legally being overly restrictive regarding forms of payment.

    I'm not sure that the advice to take out the finance in any case is necessarily helpful in every case, especially if someone in this position were thinking of taking out a mortgage in the near future.
  • motorguymotorguy Forumite
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    As somebody else said they're probably worried about money laundering... unless you're absolutely loaded not many people have 20k cash for a car so maybe this particular branch isnt used to having such high cash sales.

    If you're moving money from one account to another or paying by debit card, theres no money laundering issue.

    I paid for my year old Passat with a £16K bank transfer. No issues at all. Its cash over a certain amount they cant / wont take.
    Just because you're offended doesnt mean you're right
  • edited 21 October 2019 at 2:04PM
    motorguymotorguy Forumite
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    edited 21 October 2019 at 2:04PM
    STILL no evidence that thats why the O/P wasnt sold the car.

    And i'd be ringing and asking to speak to the Sales Manager to understand whats went wrong. Not difficult.
    Just because you're offended doesnt mean you're right
  • Cash buyers are being marginalised. My brother went for an interview at the local dealership and was told that they make very little on the car. The big money is made on the finance and warranties.

    My barber was pretty much forced to take out finance for his Ford, the dealer flatly refused to sell him the car for cash at the stated price. He had been a customer there for over 10 years. He changes his car every 3 years.
  • BoGoFBoGoF Forumite
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    Unless you are an extemely poor negotiator you should be able to get some dealer contribution thrown into a finance deal and or some extras such as a couple of free services. Take the finance and haggle, and as stated above cancel or settle the finance early. You can actually pay less on finance than you would have paid cash.

    The days of cash being king are gone (for now, the recent Ombudsman announcement re finance commission may change that)
  • Le_KirkLe_Kirk Forumite
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    My barber was pretty much forced to take out finance for his Ford, the dealer flatly refused to sell him the car for cash at the stated price. He had been a customer there for over 10 years. He changes his car every 3 years.
    .......... and changes his dealer every time he gets this obstructive attitude.
  • motorguymotorguy Forumite
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    Cash buyers are being marginalised. My brother went for an interview at the local dealership and was told that they make very little on the car. The big money is made on the finance and warranties.

    My barber was pretty much forced to take out finance for his Ford, the dealer flatly refused to sell him the car for cash at the stated price. He had been a customer there for over 10 years. He changes his car every 3 years.

    The problem is that prices and margins have been driven down on cars by buyers because they can now simply look up the cars on autotrader and sort by lowest price. If your car is not the cheapest, the phone doesnt ring.

    Likewise on new cars its a fight to the death for the cheapest price.

    There isnt BIG money to be made on finance and warranties - its where dealers now have to go to try to recover some of the lost profit they need to function.

    If someone walks in with cash, no finance requirement, wants no extras and has no trade in to resell and make profit it, it frankly is unlikely to be worth the dealers while selling it. The dealer will prefer to sit tight and wait on the right customer and a more palatable deal.
    Just because you're offended doesnt mean you're right
  • motorguymotorguy Forumite
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    BoGoF wrote: »
    Unless you are an extemely poor negotiator you should be able to get some dealer contribution thrown into a finance deal and or some extras such as a couple of free services. Take the finance and haggle, and as stated above cancel or settle the finance early. You can actually pay less on finance than you would have paid cash.

    The days of cash being king are gone (for now, the recent Ombudsman announcement re finance commission may change that)

    The only announcement made there was that the finance commission should not be linked to the interest rate (ie, some dealers are getting extra commission if they sell a particular higher rate product).

    There is no risk to there being no commission.
    Just because you're offended doesnt mean you're right
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