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Potential issue with finance

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So we bought an Octavia estate August 21 and found out today that a build date has been set for the start of September (yay). We have bought it as a part ex with our Hyundai Tucson. Last August they valued it at £14500 and said they would honour this price as they knew at the time delivery would take a while. On this basis we agreed to the deal and signed the order form/paid the deposit. Today I asked again to confirm that the value of our Hyundai would be the same as initially quoted (having confirmed this previously in March when the finance settlement was due on this car). They said that they would now have to look at our car again and do a new (lower) quote! I realise that normally the car would have depreciated but we wouldn’t have agreed to the deal knowing that our car could be significantly less. Obviously we’ve had to pay out for service/mot etc on our old car and I would expect to have to pay that but I feel they are breaking the contract as they are trying to renegotiating the original deal. If they do stick to their guns I would be inclined to cancel the whole lot and keep the car we have but I’m not sure if that’s an option!

Do you have the value of the Tucson and a statement that they would honour that price no matter when your Octavia arrives in writing?

If so then, in my opinion, you have a binding contract. If not then you will have to go through the Ts&Cs of any contract that you have signed.

Edited by Liger1956
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  • Author

Nothing specific about the current situation re delays but this is in the contract:

6.3 You agree the value of the part exchange allowance is based on the Exchange Vehicle's condition, including fitted extras at the: (i) date
of agreement of the Vehicle Order Form; or (ii) date of agreement for purchase of the Exchange Vehicle in accordance with clause 6.2, whichever is applicable, or if the Vehicle has not been inspected, the information provided by you to the Seller prior to that date. If the Exchange Vehicle is not delivered to the Seller in the same condition (fair wear and tear excepted and with a reasonable mileage allowance up to the delivery date) when inspected by the Seller is not found to be as described by you, the Seller may make a reasonable deduction from the allowance to cover the cost of any repair required or reduction in value.

 

I feel like we should be covered under the fair wear and tear/mileage as we’ve only used it normally. It’s had less than 10000 miles in the year and we’ve service /mot’d it and had 4 new tyres put on it

Second hand values had been going up not down. Have you tried we buy any car or similar places to confirm the value?

 

what does Parker’s or glasses guide say it’s worth?

Edited by cheezemonkhai

  • Author

We buy any car valued it at £13100 so it definitely is less which is what I would expect if I was going to start a new contract. It’s difficult as I’ve had basically no communication from the dealer unless I’ve instigated it and the staff there seem to have changed over multiple times. Service has been pretty poor, which I think a lot of people have found! 

It's not just skoda dealers that are having issues, but some are clearly porforming better than others.

 

In terms of WBAC, that's a reasonably baseline, how much of a difference is that between where you had assumed it was?

As you have nothing in writing and staff have changed, I think you'll struggle to get the price maintained.

 

Have you got a price on glasses also?

https://glass.co.uk/

 

As it's a Hyundai, assuming it's not too old and not too high mileage, but in good condition, have you considered approaching a Hyundai dealer?

I know they were very interested in picking up used cars a few months back, as there was a shortage of stock.

 

Finally, if you're not sure, approach some dealers or even put it up on autotrader, for what it was valued at and see if you get a real (not taking the mick) bite and offer.

 

If non of these work, then walking away is an option and depending on what you signed around delivery times, you could get some or all of your deposit back (or not if you signed to say it's ok to take ages). There is something to be said around not owing anyone anything right now.

  • Author

Yeh that’s a good shout about approaching Hyundai. Yesterday Skoda suggested around £11000 so I am waiting for Skoda to get back to me about the final price so will wait and see. We are prepared to walk though if they start getting difficult! It would be nice to not lose the deposit.

31 minutes ago, Stillwaitingforoctavia said:

It would be nice to not lose the deposit.

Not really an issue I think because they're definitely trying to change the original contract which you both entered into.

1 hour ago, Stillwaitingforoctavia said:

Yeh that’s a good shout about approaching Hyundai. Yesterday Skoda suggested around £11000 so I am waiting for Skoda to get back to me about the final price so will wait and see. We are prepared to walk though if they start getting difficult! It would be nice to not lose the deposit.


So WBAC are offering 2k more.

id pay a few pennies to get a glasses price as that’s what a dealer will use as a reference.

 

 

In your situation I have walked before.

Get a quote from www.motorway.co.uk 

They give about £1000 more than WBAC. I've sold 2 cars with them over the last 18 months and were excellent. 

  • 1 month later...

It does sound like you have a well established contract with them. But that doesn't actually stop them breaking the contract. If they break the contract you would need to take action to recover 'damages'. Damages only being available to get you back to where you would have been otherwise. since you haven't been without a car or incurred additional costs you probably don't have much of a claim for damages.

I would suggest being pragmatic when you try to move this forward. You only real lever against the company is probably adverse publicity.

  • Author

So we’ve basically had to accept a slightly lower offer for our car ~£1500. But the dealer is throwing in 4yrs servicing, full tank of fuel and £100 off the protection pack. While we are annoyed, I think it was either that or lose the car altogether and we didn’t want that.

@Stillwaitingforoctavia Just nosy but how much was that ridiculously priced protection pack that they knocked £100 off of. 

I hope 4 years servicing is actually Servicing to the manufacturers recommendations so there will be Brake Fluid changed @ 3 years, spark plugs at 4 years etc. 

  • Author

I jolly well hope it’s the full service plan! Protection pack is normally £499. We have 2 small children and a dog so (probably naively) felt anything to help maintain the interior is good 😁

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