Dealer not paying up for part exchange

[Jibbajabba]

@ajshughes I think it is a mixed feeling of emotions. Selling the best car I had thus far was hard enough - keep getting reminded like that won't make it any better. I am going through emotions of 'OMG THEY NEVER PAY' to 'They will, eventually, so nothing to worry about'.

I am just glad I don't have outstanding finance on that because that would get me proper anxiety ...

 

[geoffus]

Do you want to give us a clue who the dealer is ?

 

[Jibbajabba]

Not at this moment, no.

 

[G7Wagen]

Good luck with this.... I understand your anxiety... I would visit them in person tomorrow... unannounced...you can tell a lot from a person's body language.. and will see if your old car is still there.

 

[Fady]

Good luck with this.... I understand your anxiety... I would visit them in person tomorrow... unannounced...you can tell a lot from a person's body language.. and will see if your old car is still there.

Issue is, they likely won't give a flying f*** and he'd just be putting himself out.

They are just employees and it's no skin off their nose. The money will obviously come through, but as @Jibbajabba says, it's all a bit underhand - absolutely no reason they couldn't pay up inside 5 minutes if they really wanted to.

 

[chic0821]

I would visit them in person tomorrow... unannounced...y

A personal visit sharpens the mind especially if there are customers in the showroom although I would wait till day 15. You have no beef with them if you agreed to 14 days

 

[Bobby Dazzler]

This scenario is completely different to WBAC though. You sell the car, they buy the car, and you can’t change your mind. With a part-exchange you can return the car you bought which complicates matters for the dealer.

However that should be made clear when doing the deal - payment terms ought to be made crystal clear in both directions - especially when dealing with a private individual. Ironically it would be for a trade deal.

I’m still gutted i didn’t know it was for sale. Seems like a bell of a lot of car for what they offered.

 

[richard]

Ive sold my GLC63s to a dealer (Mercedes franchise) on Friday and they said 5-7 days - its really just time for the accounts department if you ask me, plus good old slow 3 day bacs transfers rather than same-day standard ones ! However, the ££ has arrived in my account today - so have nicely exceeded my expectations.

So I'd be having nice discussion with the garage - does sound like they are just holding the cash for 14 days

R

 

[st13phil]

Ive sold my GLC63s to a dealer (Mercedes franchise) on Friday and they said 5-7 days - its really just time for the accounts department if you ask me, plus good old slow 3 day bacs transfers rather than same-day standard ones !

FWIW, when I dealt with an insurance company, a GAP insurer and solicitors recovering my uninsured losses late last year when I had a non-fault claim that wrote off my motorcycle, all of them said I would receive payments in "5 to 7 days" for exactly the reason Richard gives: time for the accounts department, plus the good old slow 3-day BACS transfers

 

[Jibbajabba]

Well now they insist they tried to make transfer yesterday but bank blocked it and they are expecting a call from the bank to 'clarify security questions'. So yes, either they are stalling for the 14 days, don't have money or really are just that bad. I'll give him till Thursday before I call daily and take it further next week. We shall see.

 

[ALFAitalia]

As I said in the other thread....I would not have left without the money in my account. If we do an "upside down deal" the customer watches us transfer the money before they leave. Try taking your new car without paying and see how far you get!!! I know its easy in hindsight.....but maybe you should not have let it get this far in the age of instant transfers. Usually the threat alone of legal action or interest charges (or both) will get the job done. Hopefully it wont come to that and they will pay you in time.

 

[Jibbajabba]

Doesn't matter how often you say 'you should have' - it won't solve it any quicker

 

[DSM10000]

Doesn't matter how often you say 'you should have' - it won't solve it any quicker

Then why complain about it if you knew what the terms and conditions were ?

 

[st13phil]

Well now they insist they tried to make transfer yesterday but bank blocked it and they are expecting a call from the bank to 'clarify security questions'.

Whose bank? Are they claiming yours (easy for you to check - just phone them up and ask) or theirs? I cannot imagine that a businesses bank would block a properly formatted BACS payment - unless you're some sort of dodgy character

 

[neilrr]

This thread is premature. You gave them up to 14 days to pay you & when you posted here they hadn't yet exceeded that time. You're worrying about things that don't need to be worried about IMHO.

 

[Jibbajabba]

This thread is premature. You gave them up to 14 days to pay you & when you posted here they hadn't yet exceeded that time. You're worrying about things that don't need to be worried about IMHO.

I did not and it doesn't say it in their T&Cs. Granted, I made the mistake not to 'clock' that payment terms actually aren't mentioned in T&Cs, but they 'imply' ownership transfer. I.e. They say 'If car is not as advertised, we have the right to refuse or partial payment' and 'we assume ownership of car as soon as arrival'.
The worry only started because they said X and X didn't happen. Then they say Y and Y doesn't happen. I think most would get an uneasy feeling when it comes to that.

Then why complain about it if you knew what the terms and conditions were ?

"up to 14 days" is not in their terms and conditions. And if you read the original reply it was not just about moaning about it but also asking for ideas and I just repeat myself / respond when people talk to me

Whose bank? Are they claiming yours (easy for you to check - just phone them up and ask) or theirs? I cannot imagine that a businesses bank would block a properly formatted BACS payment - unless you're some sort of dodgy character

Theirs


The bottom line is - the T&Cs aren't great, I didn't pick up on it and I am pissed about it - yes, half of them, half of myself. It I can't fix / change it even if people say 'you should have' - yes, hindsight is great, but that aint pay the bills lol ....

 

[neilrr]

So you sold your car with no agreement on when you'd be paid the £30K you were owed? Is that correct?

 

[st13phil]

Theirs

Hmm... It sounds awfully like they're stalling (obviously not what you want to hear).

Have you called them today to enquire whether they've made the bank transfer yet?

Suggest that as they are having difficulty making the payment by bank transfer and that the "up to 14 days" you were told is now up, that you will pay them a visit and collect the funds they owe you in cash, or a banker's draft. They'll quibble and say that they can't do that, so ask them if in the alternative they would like you to visit when their showroom is particularly busy and have a loud discussion with them in front of other potential customers about their business practices?

 

[Vintage Racer]

They are stalling................To hell with legals, send the boys around!

 

[Jibbajabba]

So I got a copy of the transfer receipt and in fairness - it is actually indeed their bank delaying it and website of said bank confirms that this is their practice with large transfer.

So money IS on the way - just their bank stalling ...

And no I am not responding to some messages here clearly trying to tick me off - some guys here are really like users on some 1990s Linux forums responding to someone asking what a kernel is lol ....