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I require some advice with regards to a verbal agreement.
I have a vehicle that was coming to the end of its formal agreement. I had a few options, buy it for the balloon payment, and sell it which means if there was a difference between the final payment and the price I was getting for the sale I could keep, or just give it back.
I went to a couple of main car dealers to sell the vehicle and settled on the price I was quoted from one dealer a reasonable price of £9000 which was above the final settlement figure of £7525 so I would have made £1475 on the vehicle. A cheque would be sent direct to the finance company for the final payment and I would receive a cheque for the balance.
I took the car into the showroom; he looked it over and agreed the price in front of other myself, my mother, partner and a friend. We shook hands and agreed to transaction taking place on Wednesday 6 Feb 08 (as he was not in on Monday and Tuesday). One Wednesday I telephoned in the morning to arrange everything and make sure he was in and everything was ready for me to drop the car off and the paperwork to sign.
I was told he was in a meeting; I called a subsequent three times in period of 2 hour and 1 hour intervals. By this time I was getting very irritated, I telephoned again and told them that I was bringing the car over and that he could be interrupted I wanted everything ready as I could not wait any longer.
As soon as I did that and the receptionist couldn’t say anything further I received a phone call from someone else within the dealership. He informed me that they are now not buying any more cars and therefore do not want the vehicle any longer.
I was livid that they had now gone back on there word on a formal agreement. I now have to give the car back to the finance company and lose the difference I would have made on the vehicle.
I know that I can try and issue against them for the loss of the £1475, however I wanted to get some guidance about what steps to take first and what is the best procedure?
Are you sure that is the correct amount, have you asked the finance company if you are entitled to a discount for paying off early?
Trading Standards wants your help
Dubious website businesses Conterfeit alcohol and cigarettes Illegal sales of alcohol, tobacco, knives & fireworks to children Cowboy builders or tradesmen Car clockers Counterfeiters Aggressive selling
Never phone or accept phonecalls from debt collection companies.
If you don't believe you can win, there is no point in getting out of bed.
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Try and maintain the payments for another couple of months as it is half way through February now and we are moving rapidly towards the car buying season.
Write, recorded delivery, not telephone, the manager in the first instance mentioning the legality of the verbal contract and that you will settle for the minimum of the difference.
Don't make it an angry letter, be diplomatic but firm and see what reply you get back, you can then take action accordingly.
Trading Standards wants your help
Dubious website businesses Conterfeit alcohol and cigarettes Illegal sales of alcohol, tobacco, knives & fireworks to children Cowboy builders or tradesmen Car clockers Counterfeiters Aggressive selling
Never phone or accept phonecalls from debt collection companies.
If you don't believe you can win, there is no point in getting out of bed.
_________________________ ________________ _________________________ ___________________
The contract for the vehicle has come to an end. I have a new vehicle arriving in March and it would have ment that I would have had to pay the final settlement fee for the car to enable me to carry on using it, I did not want to do this, merely dispose of it and be able to wait for the new one.
The vehicle is to be collected and auctioned off, the liability now rests back with Bank of Scotland.
I haven't contacted the dealer since, I am drafting something to send to them, I am only looking for the difference between the final payment and the price they offered which is all I would have made in the end anyway.
Car Dealership - Breach of Contract
from someone else within the dealership. He informed me that they are now not buying any more cars and therefore do not want the vehicle any longer.
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Originally Posted by Conniff
