Car finance chasing me for a debt I'm not responsible for

emilyann1993

Thanks all for the great advice
I checked the FCA and the dealership is registered on there so this is good to know if it comes to that
I paid the debt to BMW yesterday to stop it affecting my credit file and sent a message to the dealer to raise a complaint
They are still standing by they issued payment earlier (still no evidence of this seen) and they will take up with BMW direct.
Dont know if its just to get me off their back for a while (i assume so as I dont them anymore)

[Deleted User]

JCS1 said:

[Deleted User] said:

emilyann1993 said:

I got a settlement figure quote for my previous car on 5/10/22 which was valid until 2/11/22. I sold my car to a dealership on 13/10/22, well before the quote was due to expire, to clear the finance on my settlement.
I later found out they didn't clear the finance until 4/11/22, as this was after the quote expired, BMW Financial services are not sending me threatening letter for another payment to be made. I rang them and said the car was sold to the dealer on 13/10/22 to make the payment and it's not my fault they made it late. They said it is my problem because the agreement is with myself. I am so stressed and upset. I am literally struggling so bad financially at the moment with Christmas and my recent energy bills, I literally don't have this payment and don't know why i should be forced to pay when it's out of my control the dealer paying it late. I contacted the dealer and they are blaming BMW saying they purposely process the payments late so they can get more money out of customers. I don't know what to do, it's seriously messing with my mental health 

Don't let it, you are in control of you.

Use the information provided here to show you what to do and take control of your mind - the state of your mental outlook is yours to control - take that control back and ease the weight off your shoulders.

If only it was that simple!

It's not simple at all, didn't say anything about easy.
Sorting out our financial affairs takes strength and guts - been there, done it, you have to get your head into the game as soon as poss and get stuck in - or, you end up in these horrible situations.

JCS1

[Deleted User] said:

JCS1 said:

[Deleted User] said:

emilyann1993 said:

I got a settlement figure quote for my previous car on 5/10/22 which was valid until 2/11/22. I sold my car to a dealership on 13/10/22, well before the quote was due to expire, to clear the finance on my settlement.
I later found out they didn't clear the finance until 4/11/22, as this was after the quote expired, BMW Financial services are not sending me threatening letter for another payment to be made. I rang them and said the car was sold to the dealer on 13/10/22 to make the payment and it's not my fault they made it late. They said it is my problem because the agreement is with myself. I am so stressed and upset. I am literally struggling so bad financially at the moment with Christmas and my recent energy bills, I literally don't have this payment and don't know why i should be forced to pay when it's out of my control the dealer paying it late. I contacted the dealer and they are blaming BMW saying they purposely process the payments late so they can get more money out of customers. I don't know what to do, it's seriously messing with my mental health 

Don't let it, you are in control of you.

Use the information provided here to show you what to do and take control of your mind - the state of your mental outlook is yours to control - take that control back and ease the weight off your shoulders.

If only it was that simple!

It's not simple at all, didn't say anything about easy.
Sorting out our financial affairs takes strength and guts - been there, done it, you have to get your head into the game as soon as poss and get stuck in - or, you end up in these horrible situations.

I have 25+, years of mental health issues, the way you said to deal with it all was very simplistic.

martinbainbridge1975

emilyann1993 said:

I got a settlement figure quote for my previous car on 5/10/22 which was valid until 2/11/22. I sold my car to a dealership on 13/10/22, well before the quote was due to expire, to clear the finance on my settlement.
I later found out they didn't clear the finance until 4/11/22, as this was after the quote expired, BMW Financial services are not sending me threatening letter for another payment to be made. I rang them and said the car was sold to the dealer on 13/10/22 to make the payment and it's not my fault they made it late. They said it is my problem because the agreement is with myself. I am so stressed and upset. I am literally struggling so bad financially at the moment with Christmas and my recent energy bills, I literally don't have this payment and don't know why i should be forced to pay when it's out of my control the dealer paying it late. I contacted the dealer and they are blaming BMW saying they purposely process the payments late so they can get more money out of customers. I don't know what to do, it's seriously messing with my mental health 

have you got proof of sale documents when the car was sold to the dealer?  also ask the dealer for a remittance for the payment they sent, if they took the car off you 13/10 and did not settle till 04/11, that is beyond a reasonable timeframe in my view, settlement should have been within 7 working days

if so send proof of sale to the finance company, if this was me I would be going nuts at the dealer as the word slack is an understatement.

also log complaints with both if the responses are not satisfactory send to the ombudsman

and car dealers wonder why reputations are in the gutter

JGreenwood

I can't see how you'd be responsible here. I hope they sorted this for you, it's shameful they could purposefully delay it to try get more money out of you. This is why I generally avoid finance deals, instead I go for bank loans. That way you can do what you want and change it at your discretion.

molerat

JGreenwood said:

I can't see how you'd be responsible here. I hope they sorted this for you, it's shameful they could purposefully delay it to try get more money out of you. This is why I generally avoid finance deals, instead I go for bank loans. That way you can do what you want and change it at your discretion.

How can it be, in law, anyone else's responsibility other than the OP's.  They are the only one that had a legally enforceable agreement with the finance co.  The finance co are unlikely responsible as they clearly laid out an early repayment schedule to be paid off by a certain date and that didn't happen. The fault here seems to be down to the dealership and they should recompense OP..

born_again

emilyann1993 said:

I got a settlement figure quote for my previous car on 5/10/22 which was valid until 2/11/22. I sold my car to a dealership on 13/10/22, well before the quote was due to expire, to clear the finance on my settlement.
I later found out they didn't clear the finance until 4/11/22, as this was after the quote expired, BMW Financial services are not sending me threatening letter for another payment to be made. I rang them and said the car was sold to the dealer on 13/10/22 to make the payment and it's not my fault they made it late. They said it is my problem because the agreement is with myself. I am so stressed and upset. I am literally struggling so bad financially at the moment with Christmas and my recent energy bills, I literally don't have this payment and don't know why i should be forced to pay when it's out of my control the dealer paying it late. I contacted the dealer and they are blaming BMW saying they purposely process the payments late so they can get more money out of customers. I don't know what to do, it's seriously messing with my mental health 

So did you cancel the DD when you sold the car?

Wonka_2

martinbainbridge1975 said:

have you got proof of sale documents when the car was sold to the dealer?  also ask the dealer for a remittance for the payment they sent, if they took the car off you 13/10 and did not settle till 04/11, that is beyond a reasonable timeframe in my view, settlement should have been within 7 working days

And this is where the issue lies - if people work on trust it's often mis-placed. Hindsight is great but in situations like this I've not left the dealership without either a receipt showing that finance is settled or a written confirmation that it will be on re-opening on Monday (if deal done over the weekend)

13/10 - 4/11 is an unusual length of time but not if the dealer is using it to cover cashflow/month-end payments

martinbainbridge1975

Wonka_2 said:

martinbainbridge1975 said:

have you got proof of sale documents when the car was sold to the dealer?  also ask the dealer for a remittance for the payment they sent, if they took the car off you 13/10 and did not settle till 04/11, that is beyond a reasonable timeframe in my view, settlement should have been within 7 working days

And this is where the issue lies - if people work on trust it's often mis-placed. Hindsight is great but in situations like this I've not left the dealership without either a receipt showing that finance is settled or a written confirmation that it will be on re-opening on Monday (if deal done over the weekend)

13/10 - 4/11 is an unusual length of time but not if the dealer is using it to cover cashflow/month-end payments

same here, failing that I have kept tabs on it to check it has been settled.

trust and car dealers would not even come in the same sentence for me, far too many crooks out there.

beetecaste

Do you know what date the payment left the dealers bank account?