Dealer not paying up for part exchange

[Jibbajabba]

I am freaking out a bit. I have handed in my E63S for another Merc that was half the value so the dealer still owes me quite a bit of money (£30k+). I am told it can take up to 14 days to pay up and we are at day 13 so somehow I doubt they will pay tomorrow. 95% if their reviews are 5* reviews and the only ones that didn't go well are 2+ years old.

So I KINDA think it will work out (and I do have paperwork and mails to proof it all) but I am still wondering what people would do ? Last week I sent an email asking them to ensure the payment will be made by tomorrow (day 14) and didn't get any response.

I understand you can go via the courts (at this value cost is 5% of the value) but I wonder if one step would be a negative feedback first.

Thoughts ?

Oh and funny enough - I still got the car connected to my Mercedes me app as well as I am still owner of the tracker - naturally I won't disconnect it all until they paid up.

 

[st13phil]

Personally, I'd make a phone call to their Business Manager and ask what's going on. 14 days to make a payment is stretching things anyway.

 

[Jibbajabba]

Yea tried that - apparently the senior is the guy I keep talking to anyway ....

 

[BigJase88]

I wouldn't leave a bad review befoere money is in your account

 

[Jibbajabba]

Yea I know what you mean ...

 

[Doodle]

Personally I'd have told them they don't get the car until the payment hits my account. 14 days to pay up in this age is positively piss-taking.

 

[Skd884]

As above no way i would have done any deal until funds were in my account.

 

[Jibbajabba]

Well should have etc. doesn't really help at this stage

 

[KennyN]

How in todays "instant" digital banking can it take 14 days to transfer funds , i understand that the longer your money is in their bank they will be getting the interest but 14 days is stretching it a bit.

As mentioned , wouldn`t have left their premises until the balance was in my account.

Sold a bike recently and the chap picking the bike up , for a dealer , contacted his boss once he had inspected the bike and the money was in my account in less than two minutes from the time he made the call.

I have some spare grease if it quietens down your "squeaky bum" , until it is resolved.

K

 

[BigJase88]

My guess is they aren't exactly cash rich

 

[Doodle]

Sold a bike recently and the chap picking the bike up , for a dealer , contacted his boss once he had inspected the bike and the money was in my account in less than two minutes from the time he made the call.

Not Moto Cubo, perchance?

 

[geoffus]

Would it be something to do with offering a 14 day money back guarantee on your exchanged car, just in case you didn't like it and cancelled the deal ?

 

[Jibbajabba]

My guess is they aren't exactly cash rich

Yea they are using dealer loans it seems so I wonder if they just wait for that to clear ... I might give them to the end of the week and will then go legal on them.

 

[Jibbajabba]

Would it be something to do with offering a 14 day money back guarantee on your exchanged car, just in case you didn't like it and cancelled the deal ?

I was wondering about the cooling down period but then call it that rather than giving me BS like 'it can take 14 days because we have to make a lot of payments'.

 

[KennyN]

Not Moto Cubo, perchance?

No , it was Roy Jervis - Used motorbikes for sale in Derby & Derbyshire: Roy Jervis Bike Shop

K

 

[whitenemesis]

Would it be something to do with offering a 14 day money back guarantee on your exchanged car, just in case you didn't like it and cancelled the deal ?

^^^^^ This..
Imagine they pay you within the hour and 10 days later you decide to return the car and they have to get the balance from you? I am in no way implying you wouldn't honour the deal but equally I'm sure there are those who would take advantage.

 

[Jibbajabba]

I get it ... as I say @whitenemesis - I think this is correct but it's the communication that's wrong. Plus people claim they get the money immediately ... I mean I did with WBAC as well - so it's all about comms and contracts.

Now I received an email saying they attempted payment but bank blocked it due to the value and they are awaiting a call from bank for 'security questions'.

So yea - I bet they wait exactly until tomorrow for the 14 days. But don't give BS and just tell how it is (not you but dealer obviously).

Oh and I just pulled their records from company house so yea ... I won't deal with them again ...

 

[ajshughes]

If you have a signed contract you’ve nothing to worry about

 

[Jibbajabba]

If you have a signed contract you’ve nothing to worry about

I am more pissed off than worried I think..

 

[ajshughes]

I am more pissed off than worried I think..

Your opening line was that you were ‘freaking out’ so I thought you’d be worried about getting the cash at all. Certainly a bit rubbish that it’s taken so long - was it 14 working days or just 14 days?