Discount on Mercedes after purchasing the car

[vghiya]

Still do not understand your maths?

What period and interest rate are we talking about to get £100.

Still do not understand your maths?

What period and interest rate are we talking about to get £100.

As per Merc's financing tool, I save GBP 100. If I only consider 2K on standalone basis then its coming down to GBP52. However, if I consider the whole loan amount, interest (5.9%) and period (48 months) then as per merc's financing calculator then its making a difference of GBP 100. However, you are right.... somehow GBP 100 number looks high to me as well.

 

[MercedesDriver]

As I see it you have an option of 14 days (maybe even 30 days on long distance selling terms) cool off period to return the vehicle. The only way to know if this will be accepted is for you to start the return process and see how far it will take you. Good luck and keep us informed.

 

[DSM10000]

I agree and dis-agree. I agree that the contract was formed, and I should honor it. However, part of the contract is my right to return the vehicle within 14 days. Am I not within my rights to explore the issue I am raising? Therefore, its not greed, but my right as a part of the contract I think. As for your question about price rising by 2K, the contract here gives only me an option to return.... i.e. it is one way option for me to explore. If it were to be 2 way contract and the dealer could charge me 2K then I am 1000% he would have been knocking on my door as soon as prices went up.

You agree that you should honour the contract and then defend your right to find ways to negate the contract to your own benefit

There is no issue here other than greed, as others have stated deals on cars are changing with great regularity, you signed a contract, took delivery and now the offers have changed after you own the vehicle you want to take advantage of the situation.

I find your Reasoning" to be fatuous."

 

[Deleted member 150136]

Send it back, then buy it back as used for way less than £2k less

 

[MrGreedy]

Are you sure you have a 14 day cooling off period? You will have a 14 day period with the finance (if you want to settle the finance) and as set out in that link I posted, you will only have the 14 day period for online purchases. If you went into a dealer at any point and signed a physical contract, you don't get the right to reject. I think.

 

[jimbg]

I would consider refinancing your deal and probably save at least £2k?

Much lower rates are available as long as you have a decent credit history.

 

[vghiya]

I check the math again. Its actually about 50 and not 100. Makes me feel better Thanks for pointing it out.

 

[vghiya]

I did all talks including contract sign-off remotely.

Are you sure you have a 14 day cooling off period? You will have a 14 day period with the finance (if you want to settle the finance) and as set out in that link I posted, you will only have the 14 day period for online purchases. If you went into a dealer at any point and signed a physical contract, you don't get the right to reject. I think

 

[vghiya]

I would consider refinancing your deal and probably save at least £2k?

Much lower rates are available as long as you have a decent credit history.

Makes sense.

 

[C240Sport97]

However, part of the contract is my right to return the vehicle within 14 days.

Are you sure about this? Is it an unfettered right?

 

[Dryce]

I agree and dis-agree. I agree that the contract was formed, and I should honor it. However, part of the contract is my right to return the vehicle within 14 days.

Is this a right to return the vehicle or a right to withdraw from the purchase contract?

If the latter then when did you sign the agreement to purchase the car?

 

[MrGreedy]

The 14 days comes, I believe, simply from distance selling regs, and therefore from the point of receipt of the goods.

So back to whether the OP has the right to do this, then:

Yes they do have the right.

The dealer should under law have provided all documentation ALREADY, setting out how to return the vehicle.

Not even getting into the right of the seller to make a reasonable charge for costs, then we're back to the summary I posted earlier, that said once you've handed over the money, expect the car dealer to act unlawfully and therefore you will have to go to Court to enforce your rights (not all will be like this, but probably many).

So recommendation on car rejection now becomes leave it as it is.

The re-financing IS worth looking at though.

 

[Dryce]

The 14 days comes, I believe, simply from distance selling regs, and therefore from the point of receipt of the goods.

Is the situation with new cars not confused by a couple of aspects - (a) the likelihood of finance company's interest in the car which means it may not be considered a consumer sale and (b) if you specify options or the car is explicitly built to order then it may be excluded.

With cash purchases where the car is from stock (used or new) then things would be more clearcut.

It's an interesting situation given the current diminished level of face to face contact between car dealers and customers.

 

[jimbg]

I bought an ex-demonstrator Volvo V50 many years ago from a Volvo dealer over the telephone.
He was concerned about the distance regulations and verbally committed to the car being mine and refused any deposit.
It was all sorted when we drove there to collect the car.

 

[flowrider]

The distance selling rules do not apply when financial services are involved.

 

[raspy]

@vghiya If you want to go through the hassle of returning it within the 14 day period, ordering again with the 2k discount and refinancing, and that's possible within the terms and conditions of the contract, why not.

On the other hand, if you are happy with the car that you've just purchased (i.e. no rattles, other defects that new cars can have) then keep it. Why take the risk that the replacement GLE you order will be rattle free and free of all manufacturing defects for the sake of a few quid a month? On top of that, I don't know about you, but time is money for me, so if I have to waste time on stuff like this (in terms of admin and phone calls etc) I would be losing more money than I would be saving.

 

[MrGreedy]

The distance selling rules do not apply when financial services are involved.

No dispute on that, but it is usual when taking dealer or similar finance on a car that you can pay off the car in full within the first 14 days 'cooling off period' after signature on the finance contract and escape the finance contract.


Depends on when OP signed it

 

[markjay]

....part of the contract is my right to return the vehicle within 14 days....

So what advice are you seeking here?

You say you can return the vehicle, and you say you can buy a new one cheaper.

So you've already got all the relevant information... all that remains now is for you to decide what you want to do.

Please do keep us informed.

 

[flowrider]

No dispute on that, but it is usual when taking dealer or similar finance on a car that you can pay off the car in full within the first 14 days 'cooling off period' after signature on the finance contract and escape the finance contract.


Depends on when OP signed it

That is not in dispute. The OP doesn't want to pay off the finance, the OP wants to return the car to the dealer for a full refund because the car model is now being advertised £2k cheaper.

 

[MrGreedy]

I thought in post #29 re-financing elsewhere and cheaper wasn't ruled out, so might have been an option to save the OP some money.

I didn't realise it had already been ruled out, so I apologise for the mistake