Car rejection accepted, but what a poor offer. Where do I stand legally

Jumblebumble

Nik263 said:

Hi all, thanks for your help in advance. 

I don't want to bore you with all faults the car had, but the last was it needing a engine replacement. The manufacturer's warranty declined to replace the engine due to missing service prior to my purchase. For that reason it was not an approved used car as I thought I purchased, and have accepted my rejection of the car. 

I purchased the car Nov 2019 value of £30k but on a PCP 
paid £3,381 deposit and so far 20 months of £501.00 a month. 

They have offered 
"Good news we will support your request to reject RO64KKN, this action means we must return you to your original position at the time of purchase.
This means we will purchase RO64KKN from yourself at the current settlement figure plus the original deposit of £3,381 that went into the agreement."

So this means I get my deposit back but loose just over £10k that I have paid over the last 20 months. That doesn't seem fair to me. 
I thought if a car rejection is accepted they pay me the full purchase price £30k and I pay the Settlement figure roughly £21k and the remaining £9k is mine. 

If anyone can help clear things up for me. 
Thanks
Nik

Assuming that the settlement figure is a linear calculation compared with you keeping the car for the agreed term with no loading on the basis that the contract has been terminated early  then this is fair and as they say effectively unwinds the contract
If you are facing effectively an  early termination charge then this is not a reasonable outcome for you


Second hand cars are more valuable than they were a year ago owing to Covid  but you have no idea what would be the case when you came to the end of your PCP.