I have a new car but weeks later dealer says I have no finance

LionSun

As the title suggests, just over 3 weeks ago I bought a new car and part exchanged my old one as part of the deal.

I used some of the value of the p/x as a deposit for the PCP deal and was due thousands back in cash back. 

I haven’t received the cashback for my p/x so have been chasing this with the dealership. 

After weeks of back and forth and raising a complaint it has transpired today that there was an error on the dealerships side. They did not submit one of the proofs to the finance company that I gave to them when I collected the car. 

As it has taken so long for them to realise this the finance deal I was accepted for has now expired. They haven’t been paid out for the car I have which is why I haven’t received payment for my p/x. They now want me to do a new application for finance and say all will be the same as before but I am not convinced of this. 

Any advice please?? The whole experience has been a total nightmare and I don’t know where to go from here. 

Ayr_Rage

LionSun said:

As the title suggests, just over 3 weeks ago I bought a new car and part exchanged my old one as part of the deal.

I used some of the value of the p/x as a deposit for the PCP deal and was due thousands back in cash back. 

I haven’t received the cashback for my p/x so have been chasing this with the dealership. 

After weeks of back and forth and raising a complaint it has transpired today that there was an error on the dealerships side. They did not submit one of the proofs to the finance company that I gave to them when I collected the car. 

As it has taken so long for them to realise this the finance deal I was accepted for has now expired. They haven’t been paid out for the car I have which is why I haven’t received payment for my p/x. They now want me to do a new application for finance and say all will be the same as before but I am not convinced of this. 

Any advice please?? The whole experience has been a total nightmare and I don’t know where to go from here. 

What are you stressing about?

If they say the deal will be the same, get it in writing, sign the paperwork and your uncle's name is Robert.

What could be simpler?

Ask them to throw in something for your inconvenience.

LionSun

Ayr_Rage said:

LionSun said:

As the title suggests, just over 3 weeks ago I bought a new car and part exchanged my old one as part of the deal.

I used some of the value of the p/x as a deposit for the PCP deal and was due thousands back in cash back. 

I haven’t received the cashback for my p/x so have been chasing this with the dealership. 

After weeks of back and forth and raising a complaint it has transpired today that there was an error on the dealerships side. They did not submit one of the proofs to the finance company that I gave to them when I collected the car. 

As it has taken so long for them to realise this the finance deal I was accepted for has now expired. They haven’t been paid out for the car I have which is why I haven’t received payment for my p/x. They now want me to do a new application for finance and say all will be the same as before but I am not convinced of this. 

Any advice please?? The whole experience has been a total nightmare and I don’t know where to go from here. 

What are you stressing about?

If they say the deal will be the same, get it in writing, sign the paperwork and your uncle's name is Robert.

What could be simpler?

Ask them to throw in something for your inconvenience.

It does sound simple when put like that. I suppose my worry is there is no way they can guarantee the deal will be the same. I called the finance company that it was originally accepted with and they confirmed this. I can re apply for the finance but this will be another search on my credit file too. 

sourcrates

LionSun said:

It does sound simple when put like that. I suppose my worry is there is no way they can guarantee the deal will be the same. I called the finance company that it was originally accepted with and they confirmed this. I can re apply for the finance but this will be another search on my credit file too. 

Still can`t see a reason to wait on this, what else are you going to do?

You can hand your car back, regain your p/x if its still around, and be back at square one, is that what you want?

Credit files are there to be searched, you shouldn't really fuss too much about your credit report.

molerat

It really is that simple. Another search on your file is no big deal.  Until you find out precisely what the new deal will be you cannot know how it will affect you financially if at all. Once you know that you can start negotiations with the dealership for recompense.

Brie

If the finance company can't offer the same terms then I would be expecting the car dealership to make up the difference somehow. 

singhini

LionSun said:

As the title suggests, just over 3 weeks ago I bought a new car and part exchanged my old one as part of the deal.

I used some of the value of the p/x as a deposit for the PCP deal and was due thousands back in cash back. 

I haven’t received the cashback for my p/x so have been chasing this with the dealership. 

After weeks of back and forth and raising a complaint it has transpired today that there was an error on the dealerships side. They did not submit one of the proofs to the finance company that I gave to them when I collected the car. 

As it has taken so long for them to realise this the finance deal I was accepted for has now expired. They haven’t been paid out for the car I have which is why I haven’t received payment for my p/x. They now want me to do a new application for finance and say all will be the same as before but I am not convinced of this. 

Any advice please?? The whole experience has been a total nightmare and I don’t know where to go from here. 

Get it in writing "all will be the same as before"
and if its not
Get the dealership to add the difference to your cash back money that your still waiting on.

ManyWays

I agree with @brie.  I would put it in writing to the dealership now that you are very disappointed by this poor service, but because they say you can reapply now and it will all be the same, that is what you want to do.

Then if it turns out not to be the same, ask the dealership to cover the difference.

An extra search on your credit record isnt a big issue.