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Car Dealer not paying money for traded in car
Hi guys, another issue I cant find any help on google, so have turned to the professionals!😊
My son recently bought a new car on finance. from a car dealer. He traded in his old car against it. They offered him £5000 for his old car and, at the time, they mis read his final settlement value letter and applied for finance based on him using the £5000 to pay off £3500 settlement on his old car finance agreement and the remaining £1500 as a deposit. The deal was all done and the finance was accepted and put in place, but the actual settlement figure was £2800. The dealer said not to worry, he had misread the settlement figure and pay my son the £700 shortfall when he came to collect the new car as this was part of the sum lent to him from the finance company to buy the new car.
The car my son traded in, had a warning light on the dashboard, when the dealer valued it and he said he would prefer for us to get this issued fixed before we traded it in and collected the new one. We took it to out mechanic, it was a simple fix with a small part to be replaced and the error code removed from the cars EMS, and a receipt for the work carried out. The car was fine for the last couple of days my son had it and when he dropped it off at the garage, to be traded in when he collected his new car.
At the time he collected the car, the owner of the garage wasnt on holiday and one of his colleagues completed the deal. My son said it was all very rushedand they took his old car off him, completed all paperwork and gave him the keys to the new car. He said as it was rushed he forgot to rewquest the payment of £700 when he was there.
Any way two weeks later I am still chasing the dealer for this £700. My first telephone call with him went along the lines of " the warning light was still on the dash when my son dropped the car of... but not to worry, send me the bank details and I will send the money over". Despite telephone calls, text messages and emails , the dealer is still ignoring me and has not paid the money over.
As far as my son and I are concerened the car was fixed, to our knowledge and proof prior to dropping it off to be traded in and the dealer doesnt have a leg to stand on if trying to use this as leverage to keep the money.
What would be my next action? If the dealer fails to pay the money, or respond to my contact efforts, can i contact finance company to apply leverage on the dealer as he has money he isnt entitled to from a finance deal my son will be paying for the next 3 years?
Thanks in advance.
My son recently bought a new car on finance. from a car dealer. He traded in his old car against it. They offered him £5000 for his old car and, at the time, they mis read his final settlement value letter and applied for finance based on him using the £5000 to pay off £3500 settlement on his old car finance agreement and the remaining £1500 as a deposit. The deal was all done and the finance was accepted and put in place, but the actual settlement figure was £2800. The dealer said not to worry, he had misread the settlement figure and pay my son the £700 shortfall when he came to collect the new car as this was part of the sum lent to him from the finance company to buy the new car.
The car my son traded in, had a warning light on the dashboard, when the dealer valued it and he said he would prefer for us to get this issued fixed before we traded it in and collected the new one. We took it to out mechanic, it was a simple fix with a small part to be replaced and the error code removed from the cars EMS, and a receipt for the work carried out. The car was fine for the last couple of days my son had it and when he dropped it off at the garage, to be traded in when he collected his new car.
At the time he collected the car, the owner of the garage wasnt on holiday and one of his colleagues completed the deal. My son said it was all very rushedand they took his old car off him, completed all paperwork and gave him the keys to the new car. He said as it was rushed he forgot to rewquest the payment of £700 when he was there.
Any way two weeks later I am still chasing the dealer for this £700. My first telephone call with him went along the lines of " the warning light was still on the dash when my son dropped the car of... but not to worry, send me the bank details and I will send the money over". Despite telephone calls, text messages and emails , the dealer is still ignoring me and has not paid the money over.
As far as my son and I are concerened the car was fixed, to our knowledge and proof prior to dropping it off to be traded in and the dealer doesnt have a leg to stand on if trying to use this as leverage to keep the money.
What would be my next action? If the dealer fails to pay the money, or respond to my contact efforts, can i contact finance company to apply leverage on the dealer as he has money he isnt entitled to from a finance deal my son will be paying for the next 3 years?
Thanks in advance.
0
Comments
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You've posted this on the Parking tickets, fines & parking sub-board.
Maybe hit the Report button below your post and ask MSEForumTeam to move your thread to the Motoring board.0 -
Dam....thamks Keith0
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First and foremost, the people on here aren't "professionals".
The finance company don't have any leverage in this situation whatsoever. You're just going to keep pressuring the dealer. Ultimately, the only avenue you will have is to sue him.0
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