PCP Agreement - Big Price Change!

[StealthG60]

Hi, I'd like the advice of any finance experts out here on an odd situation. I've approached a well known fleet provider, who our company have an agreement with, to also provide PCP cars (on an opt out of company scheme basis).

 

I asked for a price on a specific car and they gave me a written quote. I was surprised about the low price of the car and queried it. I was told that they have a deal with the manufacturer and therefore, a nice discount. This turned out to be approx 16% on a car that everyone says you can not usually get a discount on. Very happy, I specified some options and a new written quote was given. We discussed the quote on the phone and again I queried the price. Fleet company again re-itterate their negotiated discount and I ask to proceed.

 

I duely passed the credit check and said company then sent all the legal paperwork in the post. I signed, but BEFORE posting back queried a no-cost option over the phone & over e-mail. During the course of the conversation (& backed up in writing) I asked if the car's price would stand given there is a 9-10mth waiting list and their specified discount was only until the end of the year...

 

A day later and I get an appologetic phone call to say they'd made a mistake and they had NO discount on this car because it's new, limited in numbers and they shouldn't have applied the std manufactuer discount to this particular model.

 

Stating I have a written agreement and had queried the price on no less than 3 occasions, I calmly but firmly stated my displeasure. Said firm have now gone away to see what they can do... No feedback as yet...

 

What is the advice of any financial experts out there? I still have the paperwork and have not returned it or my deposit. I'm very annoyed, but don't know if I have any legal right to demand the price they've set out or not. Is there a Loss of Bargain case as they will no longer honour the price due to their own mistake?

 

Any ideas? Thanks!

[rickyd]

Do you remember the Jaguar XJ220 debacle? For those who don't; after jaguar announced it was to build the mother of all supercars a large number of very wealthy people put down their deposits and waited.

 

Over the course of the development of the car, the specification changed (from a V12 engine to a turbo V6), as did the price, and many decided that the new spec wasn't as attractive as the original and tried to cancel their orders.

 

The company insisted that they stand by their orders but several of the potential buyers, who included Elton John and the Sultan of Brunei decided to challenge Jaguar's stance in court - they lost. The judge ruled that Jaguar were entitled to change the design and price of the car from £361,000 to £403,000 and that the claimants could either buy their way out of the deal or go through with it. Most casual observers were amazed that there could be such dramatic changes and yet the contract still be vaid.

 

This goes to show that when cars are concerned, nothing is certain. If they will lose money by offering you this deal I don't think there's anywhere you can go with it.

 

I think you would be hard pushed to bring a claim for damages as it would be impossible to show your loss in a quantifiable form here.

 

I agree that it is a ridiculous position to be in, but at the end of it all an employee made a mistake. If the car had been delivered at that price that would be a different story and they would face a huge problem recovering their loss from you.

 

If they've been around for a while I'd be amazed if there isn't something in their T&Cs to cover failure to deliver.

 

I do however think you have a really strong case to get a massive discount on something they can offer you, even if its just to keep your goodwill.