WA15 YFO attention new owner

[citigoblack]

hi all a heads up if you or know someone who has bought this car can you tell them that the car has outstanding finance as blade skoda have failed to settle my agreement when i traded the car in june 

 

 am about to start proceedings so the car could get repossessed 

 

 

*mods remove if breaking rules* 

[chrisgreen]

Wow - that's very poor from a main dealer. Guess they are going out of business if they are pulling financial stunts like that.

[TeflonTom]

If the finance has not been settled they (or you) should have reported it as stolen by now, because it is still thier/your financial liability

[skoda1982]

My last dealer took over 2 months to settle the finance. Got a letter saying skoda finance have no more interest in the vehicle. All my skodas have been with skoda finance

[camelspyyder]

Why don't people use banks?

 

Dealer finance always feels like a dirty rip-off to me, and that's when it doesn't go wrong.

[citigoblack]

Why don't people use banks?

 

Dealer finance always feels like a dirty rip-off to me, and that's when it doesn't go wrong.

dont think banks do 0% finance ? 

 

2nd time in 2 months its happened to me which makes me think its an industrywide tactic? take a trade in say they will settle finance and only settle once they have sold your car 

 

hence the reason ive just bought a VW Up for cash dont trust finance only used it to take advantage of free servicing and being 0% i could keep my money in the bank 

 

wanted a citigo montecarlo but dealers just weren't interested in selling me one so ive bought a year old rock up 

[citigoblack]

the thing that bothers me is both my cars traded in were nearly new and sold in a few days so at least two cars sold under manufacturer approved used scheme sold with outstanding finance which manufacturer approved used is supposed to guarantee the buyer is protected from!

 

think ill give the dealer/skoda finance till monday then ill report the car stolen that will get em moving 

[camelspyyder]

No 0% with banks but as a cash buyer you can probably squeeze a bit (or a lot) more discount in the first place.

 

Bank loans are cheap now though.  I just bought the Ibiza for £9070 and the payback over 36 including interest is only £9400.

 

A SEAT PCP on the same car started from RRP not the cash offer price, then minus a dealer discount, then etc etc...anyway bottom line was £13800 over 3 years.

 

Dealer Finance...Yum, I'll have some of that...not.

Edited 11 July, 2015 by camelspyyder

[Keitht]

All accountants like to collect quickly and pay slowly, car dealers are no different.

When I bought my Roomster in 2013 I was owed a few K from the px because I took out finance to get the free service deal. I was promised this the next day, a few days later when it hadn't been paid I went back and the salesmen found the credit paperwork still sitting on their accountants desk, I got him to process the credit on my bank card there and then by pointing out they wouldn't have let me drive the car away without them having cleared funds.

Agreed it shouldn't cost the OP anything, or cause him any hassle, but I suspect VWFS has a different set of rules on payment timings for dealers.

How many banks offer 0%?

[camelspyyder]

Its 0% versus cash discount no?

I always get the cheapest bank loans and I've never been f***** over in the way that VWFS appear to.

I got the impression it was their pressure that pushed Stormchaser to take back his rejected Rapid Sport.

Clearly a company we shouldn't deal with.

Edited 11 July, 2015 by camelspyyder

[chrisgreen]

As it stands, I got a very good finance deal from VWFS on the Rapid, that over the five years of my finance agreement, will see me pay just under £2,000 in interest on the car. I'm happy with that deal.

It's on a par with the best unsecured loan I could have got from a bank, but with the added benefit that it was agreed there and then, and without the dealership even doing a credit check (I've checked my Experian, VWFS has never credit checked me for that finance agreement). Same happened when we bought my Mum's Fabia in January - dealer finance with VWFS was waived through without any credit checking.

I've been told by a friend of mine who works at VWFS that this is normal on low-value manufacturer-funded car finance, given the loan is secured against the car anyway.

[Stormchaser]

Its 0% versus cash discount no?

I always get the cheapest bank loans and I've never been f***** over in the way that VWFS appear to.

I got the impression it was their pressure that pushed Stormchaser to take back his rejected Rapid Sport.

Clearly a company we shouldn't deal with.

I think your right there. They do bribe the hell out of you to there advantage of course.

Lesson learnt.

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