Tracker fitted as part of pcp deal
Discussion
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
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
[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.
[/quote]
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.
[/quote]
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.
[/quote]
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.
[/quote]
Update. The selling agent asked for am additional 2k for his admin time with finance questions to which I agreed. He was asked today to prove he has right to sell the vehicle or proof of ownership and purchase from the owner if owner is to be paid directly ( minus his selling fees,) Basically he has said no to both totally out of the question. So the deal is done finally broken. Thanks for everyone's input on this,onwards and upwards
renmure said:
Phone me about mine.
ha ha no worries at all, its been interesting to say the least. i think I'll take my money off to another car as to be honest this has been farcical.The selling agent said to my finance guy, Google me if you need evidence who I !am!!! Not sure that's how it works
Often!!
Only kidding. Sorry it ended that way tho.
ha ha no worries at all, its been interesting to say the least. i think I'll take my money off to another car as to be honest this has been farcical.The selling agent said to my finance guy, Google me if you need evidence who I !am!!! Not sure that's how it works
Often!!
Only kidding. Sorry it ended that way tho.
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