Arnold Clark car finance accepted then rejected 10 days later.

Pcmuzzyboy

Hi all. In need of some help from anyone who may know how.

My partner recently purchased a car from Arnold Clark Dundee. Finance was applied for through Arnold Clark on Sunday Sept 20th. Arnold Clark came back to us with an approval of the finance (through Black Horse) the following Tuesday 22nd. We went to pick the car up the following Saturday the 26th where everything was signed and sealed and we drove the car away. Then some four days later, eight days after my partner was accepted for the finance, Arnold Clark contacted her to say that the finance has actually been rejected. They are unable to provide any explanation for this and she has had to re-apply for the finance. The car is now registered in my partners name, she has paid a £2000 deposit for the car, paid £100 towards getting the alloy wheels refurbished by Arnold Clark, she's paid £85 to transfer her insurance over and another £80 to have her old number plater taken off her previous car. She has also sold her previous car, so not only is she out of pocket by £2265, if the finance is rejected she will be left without a car!!!! All Arnold Clark are saying is that the signature she provided may not exactly match the photocopy on her driving license and until she re-apllies, they cannot ask the finance company why she has, some 8 days after being accepted, been rejected.

How on earth can this have happened? If finance is accepted its accepted, no? Or do Arnold Clark sell cars on pre-approval of finance? Any help would be greatly appreciated.

Cheers. 

[Deleted User]

Pcmuzzyboy said:

Hi all. In need of some help from anyone who may know how.

If finance is accepted its accepted, no? 

Correct. No. It can be reversed, although it's rare.

But it's not a great position to be in. What paperwork regarding the finance did you receive?  And did Arnold Clarke receive any funds from the lender.

I would get a second application done, but tell Arnold Clarke to help get it through.

Pcmuzzyboy

Deleted_User said:

Pcmuzzyboy said:

Hi all. In need of some help from anyone who may know how.

If finance is accepted its accepted, no? 

Correct. No. It can be reversed, although it's rare.

But it's not a great position to be in. What paperwork regarding the finance did you receive?  And did Arnold Clarke receive any funds from the lender.

I would get a second application done, but tell Arnold Clarke to help get it through.

Right now I'm not quite sure as she has all the paperwork. I also don't know if AC received funds or not. I'm going up there later to try & get some answers. The second application has been done, so I guess we can only wait.

Thanks for your reply! 

pdel61

I hope you are taking your partner with you as they will be unable to discuss the matter with you.

Pcmuzzyboy

Deleted_User said:

Pcmuzzyboy said:

Hi all. In need of some help from anyone who may know how.

If finance is accepted its accepted, no? 

Correct. No. It can be reversed, although it's rare.

But it's not a great position to be in. What paperwork regarding the finance did you receive?  And did Arnold Clarke receive any funds from the lender.

I would get a second application done, but tell Arnold Clarke to help get it through.

On what grounds can it be rejected after being accepted zc81? 

[Deleted User]

The t&cs will set out when the finance company can cancel or withdraw from the agreement, in the same way the consumer can. What do they say?

Edi81

Pcmuzzyboy said:

On what grounds can it be rejected after being accepted zc81? 

Undisclosed address with negative information was the most likely when I worked at BH many years ago.
The key thing is was Arnold Clark paid or did they release the vehicle prior to receiving payment?