Advice with a new Toyota finance agreement

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Monkeyjm22
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Advice with a new Toyota finance agreement

Post by Monkeyjm22 » Tue Sep 17, 2019 9:52 pm

All, I am looking for some advice with regards to some issues that my other half is having with her finance agreement.

She recently purchased a Toyota Yaris (10 days ago), brand new from a dealer. The terms of the agreement were agreed via Carwow for a monthly figure of approx £190 P/M - this discussion included the full specification of the car and included a negative equity figure of £1k on her part exchange. All was agreed in writing on the site. She was happy with the proposed terms and on that basis agreed to purchase the car, she therefore phoned up and placed a holding deposit.

On the collection day, all the normal signing of finance documents etc. She was not notified of any changes to the initially agreed figures, she was rushed through the signing of the finance documents and asked to simply click in 2 locations via an interactive system to provide an E-signature. In hindsight she should've spent more time reading through the terms, however the SA simply said just to click continue as it was exactly as the discussed terms. Therefore she purcahsed the vehicle on the assumption she was paying the intially agreed figure of £190P/M.

Fastforward a few days and the formal agreement letter from Toyota FS arrives indicating the monthlies are approx £30 p/m higher. Contact was made immediately to the dealer who latter confirmed the difference is due to the negative equity, who admitted fault that the initial figures somehow didn't include this, even though we directly queried whether the figure was inclusive.

She was wrongly sold the car with regards to discussed figures, however i do realise that ultimately she signed a formal contract that included the higher figure.

So my question is, what leg do we have to stand on and what avenues would you explore?

Is it an issue the dealer can solve? Or would it need to be a complaint to Toyota FS?

Any help is greatly appreciated.

Thanks
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nivens
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Re: Advice with a new Toyota finance agreement

Post by nivens » Tue Sep 17, 2019 10:19 pm

Contact the financial ombudsman, poor practice around car finance is already under investigation.
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CJ92
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Re: Advice with a new Toyota finance agreement

Post by CJ92 » Tue Sep 17, 2019 11:31 pm

Your other half needs to write a letter to the Dealership Principal explaining what has happened and unless the original finance figures are honoured she will be rejecting the car forthwith. Explain the agreement was signed in good faith and the change in the finance figures were neither discussed or pointed out to her when obviously they should have been.
I would also give the Sales Manager a call explaining the situation and that obviously you are not happy with events and that unless the original figures are honoured you will be rejecting the car.
If the dealership still fails to resolve the matter to your satisfaction then raise the matter with Toyota customer services.
Be polite in your approach and stick to the facts and let us know the outcome.
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marco_polo
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Re: Advice with a new Toyota finance agreement

Post by marco_polo » Wed Sep 18, 2019 7:36 am

Will 'Distance Selling' regulations protect you? I'd reject it asap (today basically).

https://www.bbc.co.uk/programmes/articl ... egulations
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