Have I got lucky?
Discussion
I direct a taxi company and own a number of taxis (private hire). Today the financial dept of a dumb f
kwit firm who sold me 5 cars in June 2007 rang to say they hadn't received any payments for one of them. After 2.5 hours of checking through bank statements I found they're right, and despite them supposedly setting up the financing and arranging the direct debit for this car, no d/d has ever been effected, and not a penny has been paid.
Bearing in mind that like most motor dealers they are lower than a snake's belly and that therefore there is no moral issue involved, does anyone know what the legal position is? Best advice please?
kwit firm who sold me 5 cars in June 2007 rang to say they hadn't received any payments for one of them. After 2.5 hours of checking through bank statements I found they're right, and despite them supposedly setting up the financing and arranging the direct debit for this car, no d/d has ever been effected, and not a penny has been paid. Bearing in mind that like most motor dealers they are lower than a snake's belly and that therefore there is no moral issue involved, does anyone know what the legal position is? Best advice please?
selmahoos said:
Bearing in mind that like most motor dealers they are lower than a snake's belly and that therefore there is no moral issue involved
Yes there is..your company has a contract. selmahoos said:
does anyone know what the legal position is? Best advice please?
As a director, it is your responsibility to keep financial records, which includes the recording of assets and liabilities. You have not done this. You have broken the law.HTH...
AJS- said:
If you can give them the keys back I reckon you're onto a winner. How many miles have you put on them since 2007? 50K plus I'd think, and 18 months free car hire.
I'd want something in writing confirming that they aren't going to try to recover any money from you in addition to the return of the vehicles, personally. Otherwise it could all get very messy another year or two down the line when they change their minds. Statutory time bar on the debt is a long way off yet... Even if you return the cars and they "say" that's that now, legally you have gained an incontrovertible benefit that you haven't paid for and if they claimed against you at a later date, how would you PROVE that they said they'd let you off the debt? They are not required by law to let you off and if it comes to your word against theirs, you'd stand a good chance of losing when you've had a couple of years use of the cars for free.
It could be a bit more complicated than it seems. From memory, £500 deposit was paid with the balance to be paid via financing arranged by this dealer. They don't supply the finance but outsource it, like they all do. If I hadn't been paying it, the FINANCE company would be chasing the debt, wouldn't they? So what I THINK has probably happened here is that they've never passed the paperwork to the finance company. If they had, then wouldn't the finance company have paid THEM in full? Trouble is, I don't think that with the passage of time the finance company will now accept the business. And I have a deal to pay over a set period by set instalments. So I just wonder how far a quite different deal can be enforced by the dealer (whose negligence, and not mine, has really caused the problem in the first place). I've got a funny feeling that their position isn't very strong.
selmahoos said:
It could be a bit more complicated than it seems. From memory, £500 deposit was paid with the balance to be paid via financing arranged by this dealer. They don't supply the finance but outsource it, like they all do. If I hadn't been paying it, the FINANCE company would be chasing the debt, wouldn't they? So what I THINK has probably happened here is that they've never passed the paperwork to the finance company. If they had, then wouldn't the finance company have paid THEM in full? Trouble is, I don't think that with the passage of time the finance company will now accept the business. And I have a deal to pay over a set period by set instalments. So I just wonder how far a quite different deal can be enforced by the dealer (whose negligence, and not mine, has really caused the problem in the first place). I've got a funny feeling that their position isn't very strong.
Mate I would if I were you stop posting about this on here. I for one know of a few guys who work for various companies such as Clydsdale, Black Horse, GE Money etc who browse on here. Sounds like the dealer has handed the vehicle to you without sending the finance docs off just as you said. I would remind you though you still may have to pay for the vehicle as you could be in breach of your sales contract. I wouldn't know without seeing your docs but I would go and have a chat with your solicitor/Accountant in the morning and see what the score is.
GreenV8S said:
selmahoos said:
therefore there is no moral issue involved
You see nothing wrong about taking goods without paying for them and you're calling them lower than a snake's belly? There's something seriously wrong with your personal ethics if you think there's no moral issue.selmahoos said:
GreenV8S said:
selmahoos said:
therefore there is no moral issue involved
You see nothing wrong about taking goods without paying for them and you're calling them lower than a snake's belly? There's something seriously wrong with your personal ethics if you think there's no moral issue.mybrainhurts said:
selmahoos said:
GreenV8S said:
selmahoos said:
therefore there is no moral issue involved
You see nothing wrong about taking goods without paying for them and you're calling them lower than a snake's belly? There's something seriously wrong with your personal ethics if you think there's no moral issue.Gassing Station | The Pie & Piston Archive | Top of Page | What's New | My Stuff