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Car purchased on PCP finance immediately Faulty, Car financing, faulty, PCP
geordiemike
post Sat, 13 Apr 2019 - 18:34
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Hi I wonder if you could help please

Son bought a car on PCP last week . It is faulty - to the extent that an independent garage said that it is an MOT failure

We wish to return it. But the dealer said, it is up to the Finance Company (Money Barn), since it belongs to them

The finance company say that will have a look and take steps to resolve withn 56 days

But
i) we wish to cancel the credit with the finance company (14 days)
ii) we wish to ensure that the car is back with the dealer with the statutory 30 days

What steps should we take please

Many thanks

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post Sat, 13 Apr 2019 - 18:34
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DancingDad
post Sat, 13 Apr 2019 - 19:02
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You will need to check T&Cs but my immediate thoughts are:-
If within 14 day cooling off period for finance, cancel it.
Return car to garage and tell them to sort it out with finance.
There may be some discussion with the PCP company so do check T&Cs.
And tell them why, that it is not just that you have changed mind.

What statutory 30 days BTW?
If bought from a dealer Consumer Rights Act 2015 applies.
Are you thinking that the short term right to reject applies ?
Notify both dealer and finance in writing that the goods are not as described, fit for purpose, dangerous (whatever applies) and tell them what you want in way of resolution.
If nothing else, it puts it in black and white well within any statutory time limits would put the burden onto you to prove that the faults were there from day one. (IIRC 6 months when goods are not fit for purpose or similar)

This post has been edited by DancingDad: Sat, 13 Apr 2019 - 19:12
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geordiemike
post Sat, 13 Apr 2019 - 20:14
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thanks

Yes - the statutory rights from CRA 2015

As you say we want to resolve before both the 14 day cooling for finance expires , and the 30 day CRA expires , rather than waiting for 56 days for finance company to investigate. (The problem with the withdrawal before 14 days is that it just covers the loan so officially we would then be liable to pay full cost of car ourselves)

At the moment the car wont start , so difficult to get back to garage (50 miles) but I would rather pay to get it towed back and on the lot - so at least it is there.
(Although the implication is that the PCP company should take possession)
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geordiemike
post Mon, 15 Apr 2019 - 10:42
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Just found out that under section 75 , Consumer Credit Act 1974 Dealer and Financer are *jointly* liable...

<<
75 Liability of creditor for breaches by supplier.
(1)If the debtor under a debtor-creditor-supplier agreement falling within section 12(b) or © has, in relation to a transaction financed by the agreement, any claim against the supplier in respect of a misrepresentation or breach of contract, he shall have a like claim against the creditor, who, with the supplier, shall accordingly be jointly and severally liable to the debtor.
(2)Subject to any agreement between them, the creditor shall be entitled to be indemnified by the supplier for loss suffered by the creditor in satisfying his liability under subsection (1), including costs reasonably incurred by him in defending proceedings instituted by the debtor.
>>
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