Dream Machines
Discussion
I see they have gone bust at last.
I hope the coast is now clear for me to set the record straight on what happened to when selling my cerb in Jan.
Long story very short - they sold it on sale or return, pocketing the money and applied for a CVA before I could get anything back. the carrot of the freehold being sold to pay of the creditors was dangled but that did not happen. come home tonight to a letter from the now appointed administrators saying the company was being wond up.
A lesson to anyone doing a sale or return - or indeed business with these sharks in the future
I hope the coast is now clear for me to set the record straight on what happened to when selling my cerb in Jan.
Long story very short - they sold it on sale or return, pocketing the money and applied for a CVA before I could get anything back. the carrot of the freehold being sold to pay of the creditors was dangled but that did not happen. come home tonight to a letter from the now appointed administrators saying the company was being wond up.
A lesson to anyone doing a sale or return - or indeed business with these sharks in the future
gazm said:
I see they have gone bust at last.
I hope the coast is now clear for me to set the record straight on what happened to when selling my cerb in Jan.
Long story very short - they sold it on sale or return, pocketing the money and applied for a CVA before I could get anything back. the carrot of the freehold being sold to pay of the creditors was dangled but that did not happen. come home tonight to a letter from the now appointed administrators saying the company was being wond up.
A lesson to anyone doing a sale or return - or indeed business with these sharks in the future
Sorry chap, that was a loverly looking CerbI hope the coast is now clear for me to set the record straight on what happened to when selling my cerb in Jan.
Long story very short - they sold it on sale or return, pocketing the money and applied for a CVA before I could get anything back. the carrot of the freehold being sold to pay of the creditors was dangled but that did not happen. come home tonight to a letter from the now appointed administrators saying the company was being wond up.
A lesson to anyone doing a sale or return - or indeed business with these sharks in the future
gazm i'm sorry to hear your plight but you are not the only one to have returned home today to have found that letter.
I have been caught out in the same way in selling my T350 with them on a sale or return and no money being returned to me due to the CVA.
As for any legal comeback who knows! We can only live in hope.
I have been caught out in the same way in selling my T350 with them on a sale or return and no money being returned to me due to the CVA.
As for any legal comeback who knows! We can only live in hope.
gazm said:
Long story very short - they sold it on sale or return, pocketing the money and applied for a CVA before I could get anything back.
I don't know you, but I am truly gutted for you andfor others who will have been caught up in this. The injustice of this sort of thing just makes my blood boil. This is really plain and simple theft, by another name. I thought they had problems at the start of the year and it was well documented on here but still they have cars for sale. Are these cars they've had for a while or have people still been dropping their cars off for SOR? this is where the no name and shame rules are a problem although i understand why they are there.
This losing your car because they had it on sale or return seems wrong to me. Do owners sign rights to the car over to the dealer? Or is it something to do with whatever property is on their premises when the doors are locked?
I feel for anyone who has lost a car/money in this way.
I wonder how many other cars around at dealers across the country face the same risk. (OK there seem to be some solid dealers out there, but we can't see their books and many seem to go under 'suddenly').
I feel for anyone who has lost a car/money in this way.
I wonder how many other cars around at dealers across the country face the same risk. (OK there seem to be some solid dealers out there, but we can't see their books and many seem to go under 'suddenly').
Targarama said:
This losing your car because they had it on sale or return seems wrong to me. Do owners sign rights to the car over to the dealer? Or is it something to do with whatever property is on their premises when the doors are locked?
I feel for anyone who has lost a car/money in this way.
I wonder how many other cars around at dealers across the country face the same risk. (OK there seem to be some solid dealers out there, but we can't see their books and many seem to go under 'suddenly').
In this case as I understand it they had already sold the car and didn't hand over the cash.I feel for anyone who has lost a car/money in this way.
I wonder how many other cars around at dealers across the country face the same risk. (OK there seem to be some solid dealers out there, but we can't see their books and many seem to go under 'suddenly').
However, you do need to be careful when anything you still hold title to is on someone elses property. I once had some equipment in an arcade that I let them use when I wasn't using it for my business. I got wind of the fact they were 'having difficulties' so I took the kit out for a job and didn't take it back after I'd finished and heard they'd closed down the week after. In that situation you have to prove that you own the item 100% and that can be very difficult. A car would be easier to reclaim as you will have documentation and hopefully a history to prove ownership. For that reason I'd NEVER hand over the V5 and/or the service history for a car that was being sold until the deal was done and even then I guess you're still on dangerous ground.
I guess a written document might be a good idea, but that still wouldn't help here.
"Sale or return" does work for the seller and the dealer if done properly.
Here at TVR MADS we try and buy our stock so that we can do with it what we want. Where the seller wants more for his vehicle or it's a bit unusual and we don't want to buy it, we gladly take cars on sale or return, but we tell the seller to keep the V5. Once we've got a deposit off the new owner, we then pay the seller for the car, get the V5 and the new owner can collect his vehicle. If you hand over your car and all its documents, aren't you asking for trouble?
Here at TVR MADS we try and buy our stock so that we can do with it what we want. Where the seller wants more for his vehicle or it's a bit unusual and we don't want to buy it, we gladly take cars on sale or return, but we tell the seller to keep the V5. Once we've got a deposit off the new owner, we then pay the seller for the car, get the V5 and the new owner can collect his vehicle. If you hand over your car and all its documents, aren't you asking for trouble?
Gareth
Sorry to hear about this, you may remember that it was my Cerb originally.
They tried all sorts of things to increase their margin when they sold it to you (I had it there on SOR!!!!) and didn't trust them one bit in the end.
The only good guy left to run a pub.
I hope that it all works out ok for you
Tony
Sorry to hear about this, you may remember that it was my Cerb originally.
They tried all sorts of things to increase their margin when they sold it to you (I had it there on SOR!!!!) and didn't trust them one bit in the end.
The only good guy left to run a pub.
I hope that it all works out ok for you
Tony
It's so sad as a relatively simple client account would protect the money by holding it outsides of the business in these cases, sale proceeds go into it first and then dealer can take his percentage cut from that to pay only that into their own account. I think it should be mandatory. Horrible to hear, fingers crossed that there may be some equity in some part of the business there and something might come out of it 
Edited by touching cloth on Thursday 17th September 11:01
Gassing Station | General TVR Stuff & Gossip | Top of Page | What's New | My Stuff