Not received new car but already received finance agreement***Resolved***

[MAR62]

Hello

 

 

In November I purchased a new car from Peugeot using Passport Finance. I paid a £250 deposit by credit card and was told my new car would be here at the end of January.

 

 

I have still not received delivery of my car nor is at the dealers. in fact nobody seems to know where it is or when I can expect to get it.

 

 

I have already received the V5 for this car and also the new finance agreement. I have had to pay my existing finance ( which is not a problem as I still have that car) but where do I stand with the new agreement that the dealer has already put in place even though I have not received the goods.

 

 

Maybe I was a bit naïve as the dealer asked me if he could register the sale for January 31st to increase the branch sales figures. I was not told that this would automatically register me as the keeper of the car, nor set the finance in motion.

 

 

From what I can see the car ( I tracked the vessel) was not even in the UK when he did this.

 

 

I am being fobbed off by them and have now been told I will get a call from Peugeot Motor Co to hopefully resolve this matter??

 

 

Please can somebody help me. Can I cancel this agreement. Should I call the finance company and explain to them.

 

 

I really am not sure what to do as I have been told that as I signed the paperwork on the dealers premises there is nothing I can do?

 

 

Thank you all

[AndyOrch]

Hi MAR62 and Welcome to CAG

 

What date does the new finance agreement start ...first payment?

 

If its imminent go back to the car dealer and tell them to hold the finance agreement...or does it start on delivery?

 

Andy

[MAR62]

Hi Andy

The car was registered to me as at the 31.01.16. The finance agreement has started and the first payment is due on 29.02.16. I have been told that I cannot cancel the finance agreement without affecting my credit rating. I have since found out that the car is still not in the UK and nobody appears to know where it is. I have been told by the dealer that it is covered by their insurance and I have checked on DVLA that it is taxed.

 

 

I have since been in touch with Peugeot Head office and they have offered to pay this months payment as a gesture of goodwill.

I am still trying to find out if what they have done is legal. How can they register a car in my name, push the finance agreement through, when I don't even have the car. I am being fobbed off by the dealer left right and centre and it seems they have washed their hands of it.

They would have received the payment I am sure from the finance company the minute it went "Live" so now I am liable to pay the finance company for something I don't have nor do I know when or if I am going to get it. I have been told so many different things I have no idea what to believe anymore.

can somebody please help me with regards to my right to cancel this and anything else that I may be able to do. I cant believe that I have to pay for something that I have not got.

[reallymadwoman]

Many dealers register vehicles before they're actually handed over, it's all to do with boosting their sales figures and meeting targets.

 

Have you spoken to the finance company? I doubt they'd be too happy about paying for something which may or may not ever materialise. I'm not even sure of the legality of putting finance in place in this situation.

 

In a similar situation, my husband ended up being given a substantial amount of dealer fitted accessories plus a free 5 year service plan even though the vehicle was only a couple of weeks later than expected, and we have a letter on their headed paper confirming that the warranty etc runs from the date of collection not the date the vehicle was registered.

[AndyOrch]

" I have since been in touch with Peugeot Head office and they have offered to pay this months payment as a gesture of goodwill."

 

They wouldn't need to if they had done the finance correctly in the first instance and I really cant see how that is legally possible..as the agreement is between you and the finance company?

[nunnyrose]

I worked in the motor industry for many years. Yes, it's not uncommon for a vehicle to be registered before arriving at the dealership BUT the finance agreement would never have been signed by the customer until the point of hand over/delivery. The dealership will have received their payment for the amount you have financed so absolutely no way should those finance documents have been signed and processed until you collect the vehicle! It is fraud for the dealership to receive payment for something that has not been supplied.

[cosalt]

I've known dealers ask for a finance agreement to be signed a few days before collection so they can ensure the money is in their account before the car is handed over (which IMO is a bit cheeky) but to ask you to start paying for something that doesnt exist is out of order.

 

Be aware that the clock will have started for the warranty, service schedule and MOT from the date the car was registered.

 

I would be asking Peugeot to freeze the finance agreement until the car is collected, then the first payment 30 days after this date, together with resetting the warranty etc.

 

Whatever you do make sure you have everything in writing and dont stop any direct debits until you do.

[MAR62]

Thank you all for your advice.

 

 

I sent an email yesterday to Peugeot Customer Service re warranty etc and today I had a call from the dealer to tell me that all warranties , breakdown cover etc have been extended by a further year at their cost. They are also paying for my first annual service. I have said that I am not agreeing to anything unless I have it in writing.

 

 

I must point out that Peugeot themselves have not caused this problem , it all started with the dealer registering the car before it had even arrived and Peugeot have offered to pay the first months payment as way of an apology. I must say that I have had nothing but good service from their customer service and it is only since I contacted them that things have started to get done.

 

 

I have also spoken to finance company and they have been in touch with the dealer. They were really helpful and unaware that I had not received my car. Even they said how can the dealer expect me to pay for something that I haven't got. Long story short. If I have not received my car by beginning of next week the finance company have told the dealer that they will cancel the existing agreement and restart it from the date of delivery.

 

 

So according to the dealer my car should be there on Friday. Depending on what time it arrives, I may or may not have it by the weekend. I will not hold my breath. Once again thank you all for your help.

[AndyOrch]

" If I have not received my car by beginning of next week the finance company have told the dealer that they will cancel the existing agreement and restart it from the date of delivery "

 

[reallymadwoman]

Make absolutely sure that you have everything in writing before accepting the car - dealers have a way of forgetting promises very quickly once you've signed on the dotted line.

[MAR62]

Hello

 

 

Just to give a quick update. I finally picked up my car on Saturday. Neither the Manager or the Sales Rep were in that day but they had passed it to somebody else to deal with. Needless to say I have everything that was agreed with the dealer in writing. I have had a call from Peugeot customer service as well as PSA to check if I have had the car and that everything is as it should be. Thank you once again for all your help.

[AndyOrch]

Well done Mar ...delighted that this has been resolved for you.

 

 

 

Regards

 

Andy