Bought a new car - help!

Taygb97

Hello,

I have recently agreed to purchase a car through a main dealer. I currently have a car on finance that I will be part exchanging and funding the rest with cash.

My car has a settlement figure of £9,499.36 and the dealership has offered me £9,000 in part exchange. The cost of the car was £14,145, therefore taking my total cost to £14,644.36. This amount will be covered with a cash payment.

We agreed on this price however the dealership have advised they cannot deliver the car until 20th July. On the 17th July a monthly payment is due on my current financed vehicle.

What does this mean for me? I think the dealership has tried to confuse me by saying the price might have to be reviewed after I have made this payment etc.. by trying to get me to collect the car (rather than them deliver) before the 17th. Do I still make this payment? Do I cancel my dd and not pay it? What does this mean for the price of the car?

Thanks

The_Fat_Controller

DUPLICATE THREAD

facade

You cannot cancel your finance payment, or you will be in default.

You could settle your finance now, and then you wont need to make the payment, or make it and then the settlement should be a few pounds lower, so if you still get £9000 for the part-ex, you won't have to chip in as much cash.

MinuteNoodles

It means you make a repayment on 17th July and then get a new settlement figure which will be lower. You'll lose out a little but it'll only be the interest for that month, not the full payment as the settlement figure will drop.