Car still not settled - do I have recourse????

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generalprime

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Hello All,

About 3 weeks ago I purchased a new car using my, then current car, as a trade-in. Today my account gets debited for my monthly installment from MFC. The dealership has still not settled my vehicle 3 weeks after all contracts were signed!

Does anybody know if I have any recourse against them - I am in such a bad space about this that I want to take back their car and carry on with my life!

Thanks,

GP
 
I'm pretty sure you have recourse...phone the dealer principal and complain and demand your money back from them plus maximum interest allowable
 
I was in the same boat. Phoned MFC and they told me to load a stop payment against the debit order.
 
generalprime said:
Hello All,

About 3 weeks ago I purchased a new car using my, then current car, as a trade-in. Today my account gets debited for my monthly installment from MFC. The dealership has still not settled my vehicle 3 weeks after all contracts were signed!

Does anybody know if I have any recourse against them - I am in such a bad space about this that I want to take back their car and carry on with my life!

Thanks,

GP
Click to expand...

And did you inform MFC 3 weeks ago that you had traded on your car? Not so sure about your T&Cs with them but mine require me to tell them even just my intention to sell.
 
This is just very poor, shoddy admin from the dealer. Its not your job to run around and see if they have crossed their t's, etc. Ask the dealer principal for all the additional money you have had to fork out
 
generalprime said:
Hello All,

About 3 weeks ago I purchased a new car using my, then current car, as a trade-in. Today my account gets debited for my monthly installment from MFC. The dealership has still not settled my vehicle 3 weeks after all contracts were signed!

Does anybody know if I have any recourse against them - I am in such a bad space about this that I want to take back their car and carry on with my life!

Thanks,

GP
Click to expand...

Check your settlement letter that was given to you. These settlements are normally valid for 7 days. Check to see if the settlement included this debit order going off.

If it does not, I would reverse the debit order and then get a hold of the dealer principal who purchased your vehicle and give him 24 hours to settle MFC. I sincerely hope you went with a reputable dealership.

HOWEVER, note that MFC has still not been settled so they will rather chase you for the installment rather than the dealership who purchased your car.

Make sure you detail all your discussions etc in writing or via email.
 
What dodgy dealer did you buy from? Last time I did a trade in it was all settled in one day - the whole transaction.
 
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