Tracker fitted as part of pcp deal

Tracker fitted as part of pcp deal

Author
Discussion

Bo_apex

1,732 posts

198 months

Tuesday 2nd August
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barriejames said:
I finally got it resolved but what a fight its been. I think both parties now agreed seller and buyer, but to be honest I had to put serious effort and time in to make it happen. So barring any other issues its on as they have agreed to fit tracker after payment made
Two threads and plenty of grief by the sounds of it. Fingers crossed you will be happy with your choice and rack up the miles smile

barriejames

Original Poster:

838 posts

159 months

Tuesday 2nd August
quotequote all
yes its been a long haul to get it sorted but its substantially sorted and I can't wait to get to the seller as he has promised me a good look at some of the cars including F40s not sure it gets much better


Two threads and plenty of grief by the sounds of it. Fingers crossed you will be happy with your choice and rack up the miles smile
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That_White_GT3

236 posts

151 months

Friday 5th August
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barriejames said:
I'd normally agree but I've had 2 yellow 911s one had 300 plus calls and the other sold first day. So for me yellow has always been lucky for resale. I fully expect dealers to say that, until they have on to shift. The recent one at Bells sport flew away at 80k. But yes I agree they all told me the same, especially the previous porsche dealers.
I met the guy who owned that yellow 360, it was immaculate. However it took him months and months to shift it...

barriejames

Original Poster:

838 posts

159 months

it was for sale for 11 weeks?

m4tti

5,146 posts

135 months

Are you still going ahead Barrie. Thought I saw a face book post from you looking for an R8 convertible…

barriejames

Original Poster:

838 posts

159 months

I'm covering all bases. The finance people now say as its a sor car the seller must buy it and own it before sale..To be honest I've never heard such crap and I can see them blowing it

Hobo

5,347 posts

226 months

I’d honestly be telling the dealer to do one at this stage if I were you. As someone else said this should be so straightforward it’s unbelievable, ie the dealer tells the owner they have a buyer lined up subject to them fitting a tracker. If they won’t then walk.

This kind of thing happens all the time with SOR vehicles, ie agreements on similar things. I’ve bought a few Porsches and always had the previous owner extend the warranty prior to purchase as easier than a new owner doing it, etc.

If the dealer is like this over such a simple thing, I dread to think what they would be like if a problem were to arise in the weeks after purchase.

barriejames

Original Poster:

838 posts

159 months

problem is he's not a dealer. His business is ferrari repairs and servicing etc he has just agreed to sell on a trusted clients car. His understanding of finance is zero which he admits. His knowledge on the cars seems superb. The car has no warranty also,in his words,not worth the paper its written on. Tomorrow's attempt from the broker is the last chance, as they want him to own the car first,I'm sure it ends tomorrow, sadly when he tells them to do one.

bennno

8,505 posts

249 months

barriejames said:
problem is he's not a dealer. His business is ferrari repairs and servicing etc he has just agreed to sell on a trusted clients car. His understanding of finance is zero which he admits. His knowledge on the cars seems superb. The car has no warranty also,in his words,not worth the paper its written on. Tomorrow's attempt from the broker is the last chance, as they want him to own the car first,I'm sure it ends tomorrow, sadly when he tells them to do one.
Do you realise that SOR / Sale on behalf of / Agency sales can be very effective ways for a dealer to bypass all sales of goods legislation?

If the finance broker will finance vehicles brought privately then there shouldn’t be any issue, however if they expect vehicles to come from a supplying dealer with a warranty then you’ve no chance. I’m not sure of many who will.



barriejames

Original Poster:

838 posts

159 months

They are not hung up on the warranty just the legal right to sell the vehicle. its frustrating as we are not talking huge sums here either. What I've found out through this is anything other than dealer finance on a 20 year old car is a nightmare unless you're paying full funds from your own account

CoolHands

15,571 posts

175 months

I think you should knock it on the head.

barriejames

Original Poster:

838 posts

159 months

sound advice, tomorrow is my last shot at this one I've done all I can now.

bennno

8,505 posts

249 months

barriejames said:
They are not hung up on the warranty just the legal right to sell the vehicle. its frustrating as we are not talking huge sums here either. What I've found out through this is anything other than dealer finance on a 20 year old car is a nightmare unless you're paying full funds from your own account
No st Sherlock, that’s always been the case. By not huge sums it’s presumably tens of thousands you are borrowing.

As below they want a dealer to sell it from ownership so it has a semblance of warranty and is covered by the sale of goods act, otherwise they are semi on hook if engine is duff in a weeks.


Edited by bennno on Tuesday 9th August 07:48

barriejames

Original Poster:

838 posts

159 months

JBR already agreed to proceed with no warranty? it was the pre fitted tracker stumbling block with them,buy yes I agree totally with what you write. I've never bought an sor car so it's a steep learning curve,one which I wished I'd never started

Edited by barriejames on Monday 8th August 22:05

CoolHands

15,571 posts

175 months

To me it echoes what someone else said earlier, and I know I’m guilty of it - buyers fever. SOR you have to be careful of anyway (do you have indisputable proof the owner is actually the owner?); a garage / mechanic is selling it and doesn’t know anything about the process; it has no warranty (I think you said). Dealer getting shirty about you HPI’ing it (red flag, also sounds like he’s pressured you a bit). You say it’s been in Isle of Mann 10 years but was sold from Hemel Hempstead in 2021 (unless I’m getting your posts mixed up in which case apologies).

Doesn’t sound ideal, where’s your protection.

barriejames

Original Poster:

838 posts

159 months

understand, the guy said I have 30 days right of return which I assume is the same thing? i.m not a finance expert. Yes I've carried out checks on owner who is we'll known and documented his 10 year ownership it has a well documented history for a 21 year old car zero gaps in any year even the ones where its done 200 miles. The owner is a gentleman and would be horrified if he thought his integrity was questioned in this way.

Edited by barriejames on Monday 8th August 22:14

barriejames

Original Poster:

838 posts

159 months

[Agree on the buyers fever,but its been a long long search
or I'd dump the idea

CoolHands]To me it echoes what someone else said earlier, and I know I’m guilty of it - buyers fever. SOR you have to be careful of anyway (do you have indisputable proof the owner is actually the owner?); a garage / mechanic is selling it and doesn’t know anything about the process; it has no warranty (I think you said). Dealer getting shirty about you HPI’ing it (red flag, also sounds like he’s pressured you a bit). You say it’s been in Isle of Mann 10 years but was sold from Hemel Hempstead in 2021 (unless I’m getting your posts mixed up in which case apologies).

Doesn’t sound ideal, where’s your protection.
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MisterBigglesworth

214 posts

28 months

The issue for the finance com-any is the risk of SOR fraud. The finance company pays the funds to the dealer, but the dealer doesn’t have legal title to the car, they don’t pass on the funds to the seller, seller hasn’t been paid and wants either the car or the money back - the finance company is the technical buyer of the car on HP so they are left holding the liability.

This usually isn’t a problem for traditional dealers who will typically buy the car on the same day as they sell it.

As others have also pointed out again the finance company is on the hook for the car if it turns out to be a lemon, so in turn they want 5he dealer on the hook as a indemnity. In this case of the middleman isn’t a dealer .the finance company can pursue then the risk for them is you drive off in the car and the engine blows up. So you reject the car, they can’t pursue the dealer who says he didn’t sell the car etc.

The whole thing sounds like a fiasco, I don’t think you can blame JBR in this case as ultimately they are trying to protect both themselves and you.




barriejames

Original Poster:

838 posts

159 months

Yesterday (07:45)
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Now that is a fantastic response.yes I don't blame either party here I've just been thwarted at every turn as the buyer. This is half the price of some of my previous cars in terms of finance which went through immediately. For me it's shown the guy who offered to sell a clients car really should be seeking a cash buyer only. in which case he might struggle to attract the top rate he seeks for an unwarranted car. I just wished I'd known this at the start really as I wrongly assumed it would be easy.


quote=MisterBigglesworth]The issue for the finance com-any is the risk of SOR fraud. The finance company pays the funds to the dealer, but the dealer doesn’t have legal title to the car, they don’t pass on the funds to the seller, seller hasn’t been paid and wants either the car or the money back - the finance company is the technical buyer of the car on HP so they are left holding the liability.

This usually isn’t a problem for traditional dealers who will typically buy the car on the same day as they sell it.

As others have also pointed out again the finance company is on the hook for the car if it turns out to be a lemon, so in turn they want 5he dealer on the hook as a indemnity. In this case of the middleman isn’t a dealer .the finance company can pursue then the risk for them is you drive off in the car and the engine blows up. So you reject the car, they can’t pursue the dealer who says he didn’t sell the car etc.

The whole thing sounds like a fiasco, I don’t think you can blame JBR in this case as ultimately they are trying to protect both themselves and you.




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cowboyengineer

1,169 posts

94 months

Yesterday (07:58)
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If you are happy with the car. I know a guy who can sort finance out for a private sale. Then you can just buy it from the guy directly.