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Car Rejection with Negative Equity PX

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  • gc7
    gc7 Posts: 9 Forumite
    First Post
    400ixl said:
    So the finance company is refunding you all of the finance minus the £1k negative equity. So in fact refunding the payments you have made since the deal was struck where you have had access to either the vehicle you purchased or a courtesy car and there are no charges for usage? The £1k has to be paid before the end of 2029.

    I'd take that and run as well.

    Good luck with the dealership in getting that resolved. But sounds like you have come out of this in a pretty fair, may even be better position.

    And good luck with finding your next vehicle.
    Yes, they've already refunded all payments made, and in addition have paid a further sum of £200 by way of compensation/goodwill. 

    No usage charges deducted. Although, following a Data subject access request I made to the dealer, this showed the dealer attempted internally to make a usage deduction, which the finance company ultimately disputed on my behalf. I guess the seriousness of the matter eventually got through to someone. 

    The remaining original negative equity still shows on my account with the finance company, which is to be paid before November 2029. No monthly payments or anything, just needs to be cleared by then.

    Delighted to have found a new vehicle which has been running great, and a good positive experience with a different dealer 
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