Car dealership change finance deal when car arrives

[stephluq]

Hi everyone,

I ordered a car from MG last year in June (2022) and agreed a finance arrangement which included a £1500 MG deposit allowance. I was originally told the car would arrive September last year and after chasing them every month or so I finally got called to say the car had arrived a couple of days ago (Mar 2023) and made an appointment to go in on the weekend to complete paperwork.

So I go in for the appointment and get told that my finance agreement needed to be updated due to the current financial climate - a much higher interest rate and £0 MG deposit allowance. They also told me that my original agreement was only valid for 60 days. I was not told this at the time and at no time in the last 9 months did they mention anything about the finance agreement no longer being valid.

This doesn't seem right to me, does anyone know if they are allowed to do this? Shouldn't they honour the original agreement? I already had to wait an extra 6 months for the car.

TIA

They don't have to honour the agreement. But you can walk away without financial penalty.

This

It's pretty standard for an agreement to have a cut off, finance, loans, mortgage offers. They should have kept in touch with you and told you your deal was expiring though.

I think you can probably negotiate. Maybe not on the rate but on the deposit agreement.

I complained about changes to mine and got some quite expensive accessories thrown in.

Ordered June, due to arrive September, agreement only valid for 60 days... how were you ever meant to get that deal then?

Yeah exactly!

Thanks for the replies, I have had some accessories thrown in, still thinking about it though..