Hi All need some advice from all you good guys out there. Used carwow to get a good deal on a new yeti. On Saturday called the dealer and went through the figures over the phone and they were fine so gave a £500 deposit over the phone. Went into dealer yesterday to sign paperwork for the finance. Now today the dealer has contacted me to say the residue value on my car has been changed by the finance company so now the payments have gone up and if I want to get payments near my top budget I'd have to find extra deposit. Dealer says because finance company was closed yesterday there is nothing they can do. Any advice guys on best course of action?

I'm guessing that Brexit has caused the revised residual value. Since the dealer has reneged on the agreement, I would demand the return of the deposit and walk away. It should be possible to replicate the original deal elsewhere. If the dealer is any good he will put pressure on the finance company to honour the original figures.

i would argue = is the value on the paperwork you signed?

 

if so - tough. thats their problem.

 

you signed amd they signed for all that and thats the contract

Thanks m8 surprisingly the sales manager is off today they are supposed to be contacting me tomorrow. I've told them if no deal is found I will be cancelling

All I've got is the order form listing all the figures but the final balloon payment figure is not on there

Am so tempted to name and shame the dealer but will wait to see if they offer a solution to this if not this will be listed in the dealer reviews

Sorry all have been told the residue value on the new yeti is what has been changed sorry guys for the confusion

Sounds a bit sharp. Dealer offers a deal based on a high residual value (and therefore lower monthly payments) and then welches on the deal once the customer has paid a deposit and blames the finance company. Get your money back and try some other dealers.

You got a phone quote and you are surprised it didn't quite work out?.

They will tell you what you want to hear in order to get your business.

It's a waste of time bothering AFAIC.

The distance buying regulations will possibly protect your deal as offered unless you have something with 'small print' giving a get out on the finance offer until you sign the finance agreement. At the least, you should see your deposit back, but assuming you have 14 days cooling off time, I would use it to seek a better deal before 'cutting off your nose to spite your face'.

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Hi All for your comments received an email this morning from salesman saying the sales manager stated original deal will be honoured so now just awaiting email confirmation of all payments and final value for my records

Good stuff