PCP Financing . Car immediately not fit for purpose
Discussion
Hi I wonder if you could help please
Son bought a car on PCP last week . WHe sorted the finance over the phone and email and then went to dealers
lot and took possession of the car. No deposit was paid. However, it is faulty - to the extent that an
independent garage said that it is an MOT failure
We wish to return it. But the dealer said, it is up to the Finance Company (Money Barn), since it belongs to
them
The finance company say that will have a look and take steps to resolve withn 56 days - this seems too long since:
i) we wish to cancel the credit with the finance company (14 days)
ii) we wish to ensure that the car is back with the dealer with the statutory 30 days - as per consumer
rights and dont want the finance company to delay on this
What steps should we take please. What actually should we do with the car. It wont even start now. Should it
go to the Dealer or to the Finance Company (who I understand, actually own it)
Many thanks,
Son bought a car on PCP last week . WHe sorted the finance over the phone and email and then went to dealers
lot and took possession of the car. No deposit was paid. However, it is faulty - to the extent that an
independent garage said that it is an MOT failure
We wish to return it. But the dealer said, it is up to the Finance Company (Money Barn), since it belongs to
them
The finance company say that will have a look and take steps to resolve withn 56 days - this seems too long since:
i) we wish to cancel the credit with the finance company (14 days)
ii) we wish to ensure that the car is back with the dealer with the statutory 30 days - as per consumer
rights and dont want the finance company to delay on this
What steps should we take please. What actually should we do with the car. It wont even start now. Should it
go to the Dealer or to the Finance Company (who I understand, actually own it)
Many thanks,
The finance company own the car, but this doesn’t absolve the dealer from their responsibilities.
Being an ‘mot failure’ Doesn’t mean it’s not for for purpose. What, exactly, is wrong with the car?
Btw, your 14 day cooling off period on the finance just means you can withdraw from the agreement, pay it off form other means, it isn’t a get out of the car.
Being an ‘mot failure’ Doesn’t mean it’s not for for purpose. What, exactly, is wrong with the car?
Btw, your 14 day cooling off period on the finance just means you can withdraw from the agreement, pay it off form other means, it isn’t a get out of the car.
im guessing you reject the car under CRA to both parties in wrting citing the reasons why. Is it new or second hand? if 2nd hand, does it need an mot, age wise?
Presuming you did not inspect the car prior to purchase, why would you / he do that? How much was the car? what is it and whats wrong with it? It could fail and MOT on a knackered washer jet or stone chip in screen, both easily fixable.
If it is buyers remourse, it may be more difficult, but not impossible if there are some faults.
Presuming you did not inspect the car prior to purchase, why would you / he do that? How much was the car? what is it and whats wrong with it? It could fail and MOT on a knackered washer jet or stone chip in screen, both easily fixable.
If it is buyers remourse, it may be more difficult, but not impossible if there are some faults.
Edited by poo at Paul's on Saturday 13th April 20:33
hutchst said:
alistair1234 said:
So that would put you in a worse posiition in this case.
What am I missing here?If you get a bank loan and buy a pile of manure, you can't go to the bank and say "that's not what I meant to buy, can I have my money back please"
On the other hand it may well be possible to challenge a finance agreement based around a duff car.
Durzel said:
hutchst said:
alistair1234 said:
So that would put you in a worse posiition in this case.
What am I missing here?If you get a bank loan and buy a pile of manure, you can't go to the bank and say "that's not what I meant to buy, can I have my money back please"
On the other hand it may well be possible to challenge a finance agreement based around a duff car.
Pay for it with your own money and you'd do your best to check it first, and accept the problems (and learn) if there are any.
Geordie Dave said:
However, it is faulty - to the extent that an
independent garage said that it is an MOT failure
What is the actual problem? independent garage said that it is an MOT failure
A 99p bulb could cause an MOT failure.
An MOT cert means nothing other than at thay very moment in time it is road worthy. 30 seconds later it could be a failure.
M4cruiser said:
Durzel said:
hutchst said:
alistair1234 said:
So that would put you in a worse posiition in this case.
What am I missing here?If you get a bank loan and buy a pile of manure, you can't go to the bank and say "that's not what I meant to buy, can I have my money back please"
On the other hand it may well be possible to challenge a finance agreement based around a duff car.
Pay for it with your own money and you'd do your best to check it first, and accept the problems (and learn) if there are any.
As said above MOT failure could be plenty of very trivial and easily and cheaply replaced parts. It could be something as mundane as a bulb or blocked washer jets or something.
Money barn, says it all really...
Sub, sub, subbier, than a sub prime thing in sub land.
Customer cannot get credit anywhere else, Money barn agree to lend, give you a choice of what car fits there lending criteria, 'Which one do you want?'
'Sign here, go pick it up'
Its more the customer who is unfit for purpose, wants what he cannot afford and does not want to pay for it.....ever.
Sub, sub, subbier, than a sub prime thing in sub land.
Customer cannot get credit anywhere else, Money barn agree to lend, give you a choice of what car fits there lending criteria, 'Which one do you want?'
'Sign here, go pick it up'
Its more the customer who is unfit for purpose, wants what he cannot afford and does not want to pay for it.....ever.
Edited by Mexman on Sunday 14th April 13:53
Durzel said:
M4cruiser said:
Durzel said:
hutchst said:
alistair1234 said:
So that would put you in a worse posiition in this case.
What am I missing here?If you get a bank loan and buy a pile of manure, you can't go to the bank and say "that's not what I meant to buy, can I have my money back please"
On the other hand it may well be possible to challenge a finance agreement based around a duff car.
Pay for it with your own money and you'd do your best to check it first, and accept the problems (and learn) if there are any.
As said above MOT failure could be plenty of very trivial and easily and cheaply replaced parts. It could be something as mundane as a bulb or blocked washer jets or something.
king stupid stance. - yes Mod has allowed me to post! And not a made up story
It isnt so much disregarding FinCo's attempts - it is that they want 56 days to correct this, whereas we would rather have our consumer rights which expire after 14 days (Finance) and 30 days (CRA) . If they expire then we are shaky ground
And do I think it was wise to arrange PHP without seeing car - no I dont , I think its idiotic
It isnt so much disregarding FinCo's attempts - it is that they want 56 days to correct this, whereas we would rather have our consumer rights which expire after 14 days (Finance) and 30 days (CRA) . If they expire then we are shaky ground
And do I think it was wise to arrange PHP without seeing car - no I dont , I think its idiotic
Edited by Geordie Dave on Sunday 14th April 14:31
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