PCP Finance -

Ryann.

My point is that there is no evidence of me even having negative equity - so why would a salesman try to force me to pay £1500 for negative equity that isn’t even there? If there was in fact the -£1500 like he said, where is the evidence of this etc

Andyjflet

Ryann. wrote: »

My point is that there is no evidence of me even having negative equity - so why would a salesman try to force me to pay £1500 for negative equity that isn’t even there? If there was in fact the -£1500 like he said, where is the evidence of this etc

Ryan, look at your order form, the negative equity is from the amount you accepted as PX price on your old car against what you still owed to VWFS,(settlement) it will be detailed on the order form and would have been discussed with you on your visit to the dealership.

Ryann.

I think my complaint would be at the dealership, not the finance company then.

I’ve emailed 4 of their staff including the salesman and the sales manager asking for a copy of their order form over a week ago now and no response at all.

Ryann.

I think my next step would be wait until I get home so I can get my documents out and start from there, but as I said, the salesman called me a few month ago over the phone and said, you had £0 negative equity.

Andyjflet

Ryann. wrote: »

I think my complaint would be at the dealership, not the finance company then.

I’ve emailed 4 of their staff including the salesman and the sales manager asking for a copy of their order form over a week ago now and no response at all.

What is the basis of your complaint, when did you buy the car, you wouldn't not have had a copy of the order form, trust me. You alos would have read the finance agreement before you signed or e-signed it. This will have detailed the deal.

Was there a deposit contribution on this particular car ? For example, an deposit contribution of £1500 on Golf could cancel out your negative equity and is an everyday occurance where I am.

How much was the car up for sale for ? how much discount did you negotiate off the list price ? Did you buy GAP and GArd X ?

Andyjflet

Ryann. wrote: »

I think my next step would be wait until I get home so I can get my documents out and start from there, but as I said, the salesman called me a few month ago over the phone and said, you had £0 negative equity.

I expect these documents include your order form which you have never actually studied.

Ryann.

A) damage on vehicle
damage on vehicle that’s been repaired poorly without me knowing
C) salesman not being truthful

I’ve asked a few people that work there and they aren’t responding, maybe I should go to the garage and ask for them to print the order form for me there and then.

Assuming you work at a dealership, is it only the order form that will have this negative equity info on or will there be other documents?

My last complaint to VWFS(previous vehicle) a financial ombudsman went through the complaint and also stated, there’s no evidence of any negative equity too.

tommyedinburgh

Ryann. wrote: »

My point is that there is no evidence of me even having negative equity - so why would a salesman try to force me to pay £1500 for negative equity that isn’t even there? If there was in fact the -£1500 like he said, where is the evidence of this etc

There is evidence. The evidence is the sum they valued your trade-in at vs the amount you had outstanding.

Ryann.

I’m gonna check my documents tonight and see what they say regarding this.

Thanks for the help for now guys
:beer:

Penguin_

Andyjflet wrote: »

What is the basis of your complaint, when did you buy the car, you wouldn't not have had a copy of the order form, trust me. You alos would have read the finance agreement before you signed or e-signed it. This will have detailed the deal.

This, the finance company wouldn't have paid out to the dealer without a signed order form/handover form.