Delayed Finance Settlement After Part Ex

hlbkearn

Hi All.

Last month I had to part ex my car and financed my new one using Zuto as a broker to find the best deal as I was concerned about credit. The dealer was since supposed to settle my original finance and my new agreement payments would begin this month. 

The original settlement figure was generated on 02/07 and was valid for 28 days, as after that another payment from myself would be due. The dealership left it until Monday this week (02/08) to call and let me know they’d lost the reference number, “didn’t have my permission to settle” and that they didn’t have the bank details for the original finance company. All of this has been provided and can be evidenced.

When I went to make the call to my original finance to give permission (again), I noticed they’d already taken payment this month meaning I’m paying two loans, which I can’t afford to do. 

This also means the settlement figure changed and my original finance company wouldn’t accept payment of the amount originally agreed, so now have had to send out a new offer. This still leaves me down a payment and the car was officially signed over as of 06/07. The dealer confirmed everything would be settled yesterday but said they would need to “check” what they needed to do about the overpayment caused by their delays.

My question is who do I go to about this? Zuto as the broker (and also the one who recommended the dealer to begin with) want nothing to do with this, the dealer is no longer coming back to me and obviously as far as the finance company is concerned, I’m liable for the finance until the settlement is made. 

Any and all advice is appreciated!

DrEskimo

You will get reimbursed the overpayment by the finance company.

This will be shown in your final settlement statement.

hlbkearn

Hi,

The finance company wouldn't accept the overpayment from the dealer and issued a new up to date settlement figure, and told me that the dealer would have to reimburse me. The finance has since been settled by the dealer, but as far as the finance company is concerned there's no overpayment made.

I'm now having issues getting the overpayment back from the dealer - they keep telling me their accountant only works one day per week and when she's in she tells me it's not actually her that handles the payments, it's the original person I dealt with there. 

I'm really not sure what my rights are as far as getting the payment back?

molerat

You lost out due to the dealer not paying on time.  LBA and small claim for your provable costs.