Brand new car Cooling off period???

Would be nice, I can always tell a mate with an iPhone as they usually end up texting like an autistic 4 year old. No fault of yours.
 
Is that not down to the personality of your average iphone owner, rather than technical issues with the device itself?
 
The only "backup" that the finance company will give him is if it was mis-sold, had a major undisclosed fault or is not fit for purpose.

As its a new car, any faults will be covered by warranty and, as he test drove it, there is def no chance of getting round it any other way. Even if he didnt TD it, he would still be stuck.

As he signed the finance docs on the premises there is no cooling off period. If he had signed a set of "distance selling" docs off the premises then yes there is.


If he is looking to get rid of it then the most he can expect to get for the car is -

Initial price paid (NOT list price, but price he paid)
MINUS the VAT (as dealer doesnt get this, 15% of the price he paid goes to government)
MINUS around another 5% for depreciation as its classed as a "used car" now.

So, in general he is looking to get back around £750-800 for every £1000 spent depending on model etc.


Edit - note, this is not general selling/finance info I have given, its direct from the car trade....


.
 
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The thread's been going on 2 hours now and you're sounding like you're clutching at straws - admit it, you bought the car didnt you?
 
If my little 55bhp turd can get up hills I'm sure a brand new Alto can !

Either,
1. Your mate has no clue about :
a. buying cars
b. driving cars
c. finance agreements
d. common sense
e. depreciation
f. car salesmen

2. The car is broken

Personally I heavily favour 1.
 
I just left after 3.5 years in the trade.

He wont get anywhere tryin the finance company option. His best bet is to speak to the dealer, be that the original Suzuki dealer or another dealer he is looking to get a car from and see what they can do.

If he is serious then he should think fast and hard and then move fast. 1st Sept is coming up and, generally speaking, his car (being new) will take a larger drop due to the "59" plates coming out then.
 
But you've already been told several time's he's stuck with it and it sounds like theres a problem with him or the car - what's the problem?
 
nokinidea said:
If my little 55bhp turd can get up hills I'm sure a brand new Alto can !

Either,
1. Your mate has no clue about :
<snip>
f. car salesmen
Click to expand...

In this case, not entirely true.

Although they wont give him a crazy price to "buy" the car back, they are more likely to help out and give a good deal. Reasons -

1. Salesman gets to move another unit = another commission oppotunity
2. Dealership gets to move another unit = another unit towards monthly target = help get monthly bonus.
3. Car sales have taken a large hit so may do deals they wouldnt normally.
4. If they get it right then the "buyer" feels looked after and is more likely to return for next car/servicing and/or recommend to others.
 
Oh, one last thing... Although not guaranteed, if he manages to change the car AND he keeps the same finance company AND he hasn't made his first payment, then the finance company MAY allow the deal to be transferred over thereby removing any additional Doc fees or interest....
 
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