Help with new purchase
Discussion
Hello All
My wife has bought a C class AMG estate.
Happy days and all that.
Anyway the deal was done with a garage (a very large retailer)
Deposit paid, delivery date agreed, documents signed so she thought.
They called her today to advise the payments have changed due to the finance company valuing the C class at the end of august and we did the deal 2nd of September l.
I should add we only contacted the garage about the car on the 1st. Apparently the value of the vehicle has changed since it’s a new month and they want to change the payments.
Its frustrating as it’s a bonnie car 19 plate, all the toys etc we’ve been waiting for a call back all day only for them to call back and say the finance company is closed until Monday as they are arguing with them about the cost.
We don’t fully understand what’s going on as this has never happened before.
I’m typing this on my phone outside dominos so excuse the poor English haha
Any ideas?
My wife has bought a C class AMG estate.
Happy days and all that.
Anyway the deal was done with a garage (a very large retailer)
Deposit paid, delivery date agreed, documents signed so she thought.
They called her today to advise the payments have changed due to the finance company valuing the C class at the end of august and we did the deal 2nd of September l.
I should add we only contacted the garage about the car on the 1st. Apparently the value of the vehicle has changed since it’s a new month and they want to change the payments.
Its frustrating as it’s a bonnie car 19 plate, all the toys etc we’ve been waiting for a call back all day only for them to call back and say the finance company is closed until Monday as they are arguing with them about the cost.
We don’t fully understand what’s going on as this has never happened before.
I’m typing this on my phone outside dominos so excuse the poor English haha
Any ideas?
TheHighlander said:
Hello All
My wife has bought a C class AMG estate.
Happy days and all that.
Anyway the deal was done with a garage (a very large retailer)
Deposit paid, delivery date agreed, documents signed so she thought.
They called her today to advise the payments have changed due to the finance company valuing the C class at the end of august and we did the deal 2nd of September l.
I should add we only contacted the garage about the car on the 1st. Apparently the value of the vehicle has changed since it’s a new month and they want to change the payments.
Its frustrating as it’s a bonnie car 19 plate, all the toys etc we’ve been waiting for a call back all day only for them to call back and say the finance company is closed until Monday as they are arguing with them about the cost.
We don’t fully understand what’s going on as this has never happened before.
I’m typing this on my phone outside dominos so excuse the poor English haha
Any ideas?
What is the change in cost?My wife has bought a C class AMG estate.
Happy days and all that.
Anyway the deal was done with a garage (a very large retailer)
Deposit paid, delivery date agreed, documents signed so she thought.
They called her today to advise the payments have changed due to the finance company valuing the C class at the end of august and we did the deal 2nd of September l.
I should add we only contacted the garage about the car on the 1st. Apparently the value of the vehicle has changed since it’s a new month and they want to change the payments.
Its frustrating as it’s a bonnie car 19 plate, all the toys etc we’ve been waiting for a call back all day only for them to call back and say the finance company is closed until Monday as they are arguing with them about the cost.
We don’t fully understand what’s going on as this has never happened before.
I’m typing this on my phone outside dominos so excuse the poor English haha
Any ideas?
Presumably it's gone up in value, and not down, otherwise you would be paying less for it?
They're trying it on, sign any paperwork or have any sort of agreement price wise? If so, and their a big dealer, then I'd say that's their tough and they'll have to absorb the difference?
Are they saying that you're now essentially paying more for the car? They've upped the selling price. Not sure what it's got to do with the finance company? They just give you the finance for the agreed price?
If they don't budge, I'm guessing the choice may be to pay the new price, or say no thanks.
Are they saying that you're now essentially paying more for the car? They've upped the selling price. Not sure what it's got to do with the finance company? They just give you the finance for the agreed price?
If they don't budge, I'm guessing the choice may be to pay the new price, or say no thanks.
Hi All
Thanks for the responses.
So my understanding is
Last week the wife called and got a price for the Range Rover to be traded in against this Merc - good price happy days
This was the 2nd of September, she then paid the deposit we agreed, logged into their online portal to upload her details, check the prices etc and signed it off.
Yesterday they call to say the agreed price at the end of the deal the deal the finance company have changed meaning we need to pay more. They have said they’re arguing it out with Blackhorses account manager but it’s really annoyed us to be honest, we’ve now removed the private plate off our vehicle etc not the end of the world but we really like the new car.
Waiting to speak to their Sales Support about it. My wife is s
te at matters like this so I’ve been speaking to them. I have it all in email the agreed prices of everything including the payments, the salesman we dealt with has now retired (yesterday) I’m being nice and polite so far but it’s extremely frustrating as you can imagine.
Thanks for the responses.
So my understanding is
Last week the wife called and got a price for the Range Rover to be traded in against this Merc - good price happy days
This was the 2nd of September, she then paid the deposit we agreed, logged into their online portal to upload her details, check the prices etc and signed it off.
Yesterday they call to say the agreed price at the end of the deal the deal the finance company have changed meaning we need to pay more. They have said they’re arguing it out with Blackhorses account manager but it’s really annoyed us to be honest, we’ve now removed the private plate off our vehicle etc not the end of the world but we really like the new car.
Waiting to speak to their Sales Support about it. My wife is s
te at matters like this so I’ve been speaking to them. I have it all in email the agreed prices of everything including the payments, the salesman we dealt with has now retired (yesterday) I’m being nice and polite so far but it’s extremely frustrating as you can imagine.To me, morally, given you've paid a deposit on a specific car at a specific price they should honour it. Once money changes hands, that to me is a commitment from both sides to do the deal as agreed.
You've not told us how much the payments have risen. I mean, if they've gone from £299/mo to £302/mo, sure that's annoying, but probably not worth losing a deal over. If they're now £349/mo, that's a different proposition to the original deal.
If I were you, assuming the rise is more than say 5%, I would make the case that we agreed a deal and paid a deposit, and you expect them to honour that deal as agreed. And if they won't, then I'd walk away and demand they return your deposit. Why? First, if they won't uphold their commitments now, I wouldn't expect them to if you have an issue with the car in future. Second, principle. AMG C-Classes are reasonably popular, so I wouldn't assume you won't find another one similarly good, perhaps better, in its place.
They’ve not actually told me how much the payments have gone up by.
Personally if it’s only £10 or so we’re not fussed but it’s principle if that makes sense.
The reason they haven’t told me is because the account manager of the garage is speaking to the account manager of Blackhorse.
Apparently Blackhorses system has automatically made some changes but the garage have said there’s nothing they can do until Monday.
I’m sure they’ll sort it, just every frustrating as buying a car should be straight forward.
Personally if it’s only £10 or so we’re not fussed but it’s principle if that makes sense.
The reason they haven’t told me is because the account manager of the garage is speaking to the account manager of Blackhorse.
Apparently Blackhorses system has automatically made some changes but the garage have said there’s nothing they can do until Monday.
I’m sure they’ll sort it, just every frustrating as buying a car should be straight forward.
Blackhorse finance should have nothing to do with the price of a second hand car? That's the dealer deciding what they're selling the car for and how much they're giving you for your P/Ex.
If anything, the only thing they control is the APR of the finance.
It's worth finding out which of those it is. If they say the price of the car has gone up, then imo, they're trying to have your pants down and renege on the original deal. Maybe they've had another customer come in and offer more?
If anything, the only thing they control is the APR of the finance.
It's worth finding out which of those it is. If they say the price of the car has gone up, then imo, they're trying to have your pants down and renege on the original deal. Maybe they've had another customer come in and offer more?
If I’m not mistaken , the issue is the GFV of the C Class , the predicted value being lowered which has raised the payments.
In which case , the overall cost of the car will be largely the same. If the car is paid off or PX’d at the end of the finance agreement you will be in a slightly better off position due to the lower GFV.
In which case , the overall cost of the car will be largely the same. If the car is paid off or PX’d at the end of the finance agreement you will be in a slightly better off position due to the lower GFV.
Nickp82 said:
If I’m not mistaken , the issue is the GFV of the C Class , the predicted value being lowered which has raised the payments.
In which case , the overall cost of the car will be largely the same. If the car is paid off or PX’d at the end of the finance agreement you will be in a slightly better off position due to the lower GFV.
I read back now and think you're right. I assumed it was a straight finance deal rather than a PCP on a used vehicle. In which case , the overall cost of the car will be largely the same. If the car is paid off or PX’d at the end of the finance agreement you will be in a slightly better off position due to the lower GFV.
The garage have phoned me.
Blackhorse won’t amend the payments. They said they had dramatically changed……… by £20 per month.
They’re giving me an extra £150 on the trade in but have told me to hold off as they have escalated it again to see is there anything they can do.
So it looks like we’re still on for delivery tomorrow.
Blackhorse won’t amend the payments. They said they had dramatically changed……… by £20 per month.
They’re giving me an extra £150 on the trade in but have told me to hold off as they have escalated it again to see is there anything they can do.
So it looks like we’re still on for delivery tomorrow.
Technically, they're correct in that GFV will fluctuate as time goes on. Sounds like this has changed once they've propped the finance to Black Horse after the change of month. It's not a scam, they're not being cowboys, it's how PCP works unfortunately.
That said, you did a deal based on a set of numbers you found agreeable. In the current market, there's every chance your Range Rover hasn't increased in value from August to September. As has been said already, I'd check the usual car buying sites for comparison and peace of mind that they're not pulling your pants down here.
The extra £150 isn't going to balance things back to where they were, you'll be lucky if it changes the payments by £3 a month
That said, you did a deal based on a set of numbers you found agreeable. In the current market, there's every chance your Range Rover hasn't increased in value from August to September. As has been said already, I'd check the usual car buying sites for comparison and peace of mind that they're not pulling your pants down here.
The extra £150 isn't going to balance things back to where they were, you'll be lucky if it changes the payments by £3 a month
Another update.
We have sorted out a deal. Payments have come down a bit, I wasn’t that fussed but it was principle to be honest.
Car is getting delivered tomorrow, what’s strange is the price for my RR has gone down but the price for the Merc up when I’ve been checking online again.
Either way happy days.
Thanks for the info all.
We have sorted out a deal. Payments have come down a bit, I wasn’t that fussed but it was principle to be honest.
Car is getting delivered tomorrow, what’s strange is the price for my RR has gone down but the price for the Merc up when I’ve been checking online again.
Either way happy days.
Thanks for the info all.
Gassing Station | Car Buying | Top of Page | What's New | My Stuff