Some advice please !

Stolly · 24 Jan 2008 at 23:48

3 years ago i got a new Astra on a PCP lease, where i could pay the optional balloon payment at the end and keep the car, or not and have it go back.

Now, the three years are up and so i phone the actual finance company (the people i dealt with three years ago were just the dealers reselling the finance product) and find to my suprise that its not a PCP lease, the car can't go back, and i have to pay the remaining £5k !!!!

I have kept the emails from 3 years ago where the dealer clearly states that he's selling me a PCP and the balloon is optional.

Clearly i took his word for it and didn't spot the error on the paperwork i signed back in 2004.

So, i'm going to contact the CAB tomorrow and get some advice, but I was wondering if anyone has had any experience of this situation ?

hiroofheroes · 24 Jan 2008 at 23:53

How much is the car worth now on the secondhand market/trade in?

zain · 24 Jan 2008 at 23:57

Never, ever, ever take the word of a sales person. If it is not down in writing fully signed you might as well take it as a lie.

What you signed, did it show terms like that of a PCP? ie. monthly payments, final payment, option to give it back, etc

[TW]Fox · 25 Jan 2008 at 00:03

Right, so its an 2005 Vauxhall Astra (You bought 3 yrs ago). Lets assume you fail at buying cars (Lets face it, you bought a new Astra) and bought a totally crap one and put.. oo... 60k on it, just to be pessemistic.

An Astra 1.4 ENJOY (I love Vauxhalls satirical trim levels) would be worth, trade, about £3.2k with 60k miles on an 05 plate. You could expect to sell it for £4k.

So, worst case scenario, you are only a grand down.

Tell us what it is and I can be more accurate.

Stolly · 25 Jan 2008 at 00:04

hiroofheroes said:
How much is the car worth now on the secondhand market/trade in?

Well, luckily its worth over £1k more than I owe, so really is not terrible news.

Just a bit narked off really at being mis-sold.

[TW]Fox · 25 Jan 2008 at 00:04

Stolly said:
Well, luckily its worth over £1k more than I owe, so really is not terrible news

Brilliant - you are thus quids in and the salesmans error is your gain.

Sell the car.

Stolly · 25 Jan 2008 at 00:06

[TW]Fox;10965352 said:
Right, so its an 2005 Vauxhall Astra (You bought 3 yrs ago). Lets assume you fail at buying cars (Lets face it, you bought a new Astra) and bought a totally crap one and put.. oo... 60k on it, just to be pessemistic.

An Astra 1.4 ENJOY (I love Vauxhalls satirical trim levels) would be worth, trade, about £3.2k with 60k miles on an 05 plate. You could expect to sell it for £4k.

So, worst case scenario, you are only a grand down.

Tell us what it is and I can be more accurate.

Actually i'm a grand up, its a 1.7cdti design with 58k miles and they are going for over £6k.

Its more the principle of the thing and taking the word of a spastic salesman.

[TW]Fox · 25 Jan 2008 at 00:12

Salesmen are like that. Get over it and be happy, you are better off