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eshtal Avatar
8y, 4m agoPosted 8 years, 4 months ago
Need some advice really .. today i bought an approved used BMW from a BMW dealer .. now i think i will be hard for me to keep up with the monthly payements .. i am really thinking about returning the car !!! can i do that and would they charge me for that ... Thanks for ur help
eshtal Avatar
8y, 4m agoPosted 8 years, 4 months ago
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#1
Check the contracts, there's usually a cooling off period.
#2
you need legal advice but i would think if you paid a finance arrangement fee you could lose that? i would call CAB tomorrow if you cant find details on th paperwork?
#3
thanks for the replies , whats the CAB ?
#4
eshtal
thanks for the replies , whats the CAB ?


Citizens Advice Bureau

http://www.citizensadvice.org.uk/
#5
the citizens advice bureau

edit: oops slow
#6
Citizens Advice Bureau
#7
citizens advice bureau..but youll have to call or go down and wait-go early! if yours is like ours it gets busy!
#8
When you say that 'today you bought an Approved Used BMW', do you mean you merely 'signed up' for it or you have actually taken delivery? I work as a salesperson for a local BMW dealership with 16 years experience so possibly be able to offer sound advice. But much depends upon if you have merely signed a Used Car Vehicle Contract form (i.e. Order Form) and placed a deposit or that you have today actually taken delivery? Can you please clarify? And was there a part exchange involved? If I delay, it is because I am going out.
#9
Shiner49
When you say that 'today you bought an Approved Used BMW', do you mean you merely 'signed up' for it or you have actually taken delivery? I work as a salesperson for a local BMW dealership with 16 years experience so possibly be able to offer sound advice. But much depends upon if you have merely signed a Used Car Vehicle Contract form (i.e. Order Form) and placed a deposit or that you have today actually taken delivery? Can you please clarify? And was there a part exchange involved? If I delay, it is because I am going out.



Thanks for ur care.... i did everything today ... signed the papers and took the car :thinking:
#10
eshtal
Thanks for ur care.... i did everything today ... signed the papers and took the car :thinking:


and no part exchange
#11
please , tell me u r still there
#12
Its a difficult one then to be honest. Unfortunately you do not get a 'cooling off period' with the car or the finance as it does not come under the Distance Selling Regulations. You signed on trade premises and a formal contract existed (i.e. a Vehicle Order form) and accepted delivery on handover. Your only recourse is either to exercise your right under the '30 day exchange' which is offered on all BMW Approved Used Cars, but having said that it is usual that it is exchanged for a vehicle of similar value or greater. Your particular issue is whether you can actually afford to maintain the repayments, which would mean dealing on a lesser car/spec etc. Even if you asked the dealership to reverse the deal, they would offer (perhaps) to buy the car back, but it would be at the actual trade value (not your price paid) and coupled with the finance agreement you would stand to lose an awful lot of money. Unfair perhaps, but realistically you have to consider that the dealer sold the car in good faith, you signed the Contract, finance docs and then at handover presumably signed the Approved Handover checklist stating ' taking delivery in a satisfactory condition'. Bottom line is you could always ask for an appointment to see the Manager and explain, but as it sounds like they acted accordingly and this is now a matter of you 'having cold feet' I dont think that much will alter unfortunately. If, for any reason, your car 'creates problems and becomes unfit for the purpose for which it was bought' then that becomes a separate matter; you could then contact the dealer (with them having had opportunity to rectify any problem) and 'back the car' to them, having spoken with BMW Customer Services. Best of Luck and it is only my 'insider advice' but take the advice of others also and contact the CAB. Regards.
#13
Shiner49
Its a difficult one then to be honest. Unfortunately you do not get a 'cooling off period' with the car or the finance as it does not come under the Distance Selling Regulations. You signed on trade premises and a formal contract existed (i.e. a Vehicle Order form) and accepted delivery on handover. Your only recourse is either to exercise your right under the '30 day exchange' which is offered on all BMW Approved Used Cars, but having said that it is usual that it is exchanged for a vehicle of similar value or greater. Your particular issue is whether you can actually afford to maintain the repayments, which would mean dealing on a lesser car/spec etc. Even if you asked the dealership to reverse the deal, they would offer (perhaps) to buy the car back, but it would be at the actual trade value (not your price paid) and coupled with the finance agreement you would stand to lose an awful lot of money. Unfair perhaps, but realistically you have to consider that the dealer sold the car in good faith, you signed the Contract, finance docs and then at handover presumably signed the Approved Handover checklist stating ' taking delivery in a satisfactory condition'. Bottom line is you could always ask for an appointment to see the Manager and explain, but as it sounds like they acted accordingly and this is now a matter of you 'having cold feet' I dont think that much will alter unfortunately. If, for any reason, your car 'creates problems and becomes unfit for the purpose for which it was bought' then that becomes a separate matter; you could then contact the dealer (with them having had opportunity to rectify any problem) and 'back the car' to them, having spoken with BMW Customer Services. Best of Luck and it is only my 'insider advice' but take the advice of others also and contact the CAB. Regards.


Thanx for ur help and advice .. very much appreciated ... cheers
#14
i am sure shiner49 will be right. I would go back today and ask to see the manager. Ask for mercy! i dont see how you cant lose anything as they have done all the work-and the finance agreement has been arranged.
Good luck-let us know how you get on?
#15
How did you get on??
#16
Just try to sell the car, you might get lucky and get the amount you paid for (are going to pay for) or slightly less, that way you dont lose too much money. I think as long as you make the payments or pay the full amount of the car, you are allow to sell the car arent you?

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