They will take the car back

[shinebright87]

Dh bought a new car. We collected it last Thursday. Traded in our old one. Signed all the documents, finance agreement, direct debit mandate, paid deposit and drove home in our new car.
On Monday the sales man called wanting a recent bank statement to finalise the finance agreement. I thought to be very strange, however they were sent over. Its now one week since we collected the car.
The salesman called yesterday saying he was sending the bank statement to finance company yesterday and should hear back later. We've still heard nothing.

Can they take the car back? Do we get our old car back, which is currently listed for sale on the dealer website?

Has anyone been in a similar situation?

It seems very odd that the finance was not confirmed ahead of you getting the new car, is there any reason why it was not? Is it a main dealer, third party dealer, wheeler dealer?

That sounds very dodgy... Is there anyone else at the garage you can speak to about this?

Surely they need to finalise the finance agreement before allowing you to take the car?

It sounds like someone at the dealer has fucked up to me

Large main dealer. If the finance wasn't confirmed I can not fathom why we've been allowed to take the car.
The salesman has just continuously said that sometimes finance companies just want to carry out extra checks, but surely they'd complete these before we took the car.
I'm totally convinced they are going to tell us that we've to hand the car back, despite us being lead to believe that everything was sorted beforehand. Nightmare

Presumably you have some paperwork relating to the finance agreement? I'd be calling them direct to clarify what's happening.

Not sure if they can force it at this stage, but why would they want to? The new car now has another owner registered on its log, more mileage etc, so won't be worth as much.
I think you'll be OK and finance company just checking something that was missed

Very weird. Why would they let you drive off on the car if the payment arrangements are not complete? Tescos wouldn’t even let you take a bottle of milk out of the store without payment being complete and I’m sure the car is worth a lot more than that.

We took delivery of a pretty expensive car a couple of weeks ago. It was a lease arrangement (not done this before). We were supposed to pay a hefty deposit and a significant monthly payment. Neither have been set up. In fact we only just got a letter from the lease company saying they would be taking the first dd and the initial deposit after 7th January. So we'll have been driving a £50k car for free for a month.

I found it all very strange. It seemed no one knew what was going on. I think maybe so many cars are being financed at the moment they are getting people signed up asap without finalising all of the paperwork. Weird!!

No word yet from dealership and they are closed now until Monday. V5 has just been delivered which shows Dh as owner of new car.
Hopefully next week brings some clarity!

No it doesn't. It shows he is the registered keeper, not that he is the owner.

We got a new car recently. The delivery was delayed by 5 days as the finance wasn’t sorted (finance company slow to do the paperwork). Dealer wouldn’t deliver it to us until they’d got their money from them so I find it very odd yours released the car if they hadn’t got their money.