Misinformed on cost of car

Grumpy_chap

https://forums.moneysavingexpert.com/discussion/comment/81943338#Comment_81943338

Not really - there are established procedures that allow the deal to be unwound and the OP to receive the value of the trade in car at whatever the value of the trade in car was as identified in the transaction paperwork. The Dealership could follow that - it meets consumer rights rules - and the OP is left with a problem of no car.

Jumblebumble

https://forums.moneysavingexpert.com/discussion/comment/81943620#Comment_81943620

I am amazed to learn that the dealership can just decide to unwind the deal because they feel like it and wonder how exactly they would do this in practice as the OP now owns and has physical possession of the car and can simply refuse to engage or tell them to do one.

Especially if regulated finance is involved

( I am ignoring the business of trade in values etc as this has no relevance to the OPs problem)

As others have said pay the £500 under protest and complain to both the existing finance company and particularly the new finance company and tell the new finance company that they will be co defendants in any small claims court action

Grumpy_chap

I was not implying that the Dealer could simply unwind the deal for any reason. I was referencing the rules around the trade-in car no longer being available to return to the customer so a cash-value instead to be returned.

born_again

As others have said pay the £500 under protest and complain to both the existing finance company and particularly the new finance company and tell the new finance company that they will be co defendants in any small claims court action

Not sure this is anything to do with finance co's. As it is dealer that made the error on their pricing.

saajan_12

The bigger issue is not the £500, its the ongoing DDs needed to both the original and new finance company. Since the old finance co haven't breached anything so could successfully claim from the OP if payments are not made. That would leave the OP holding the bag having to sue the dealer for losses as a result of the dealer not paying out the old finance co.

OP, I'd get minds to focus on that with the dealer and if no success then raise a complaint. When you do, I'd change the wording - you weren't misinformed, you had a contract which the dealer is failing to fulfil. It just puts the focus on the agreed price being the correct one.