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Morning all,
In 2022 I purchased a car from Peugeot, there was a £4,600 down payment. Within a few months it had developed a number of faults, the dealership recognised this and replaced the car with another, pretty much like for like replacement. The initial contract was honored, same term, same warranty term, same monthly payments etc.
I am in the process of purchasing another vehicle, I have been told that I am currently in negative equity by around £2,600. Due to this I thought about a VT, however I have looked at the financial documents and there is no mention of the initial deposit, other than on the first contract for the faulty vehicle.
I have tried to explain this to the finance company (Stellantis), explaining that we have now been left out of pocket and financially detrimental through no fault of our own. Unfortunately, Stellantis aren't interested and referred us back to the initial dealership. As you can imagine, they are even less interested and have done nothing more than send the 2 copies of the order forms and financial documents.
Where do I legally stand with this? I realise hindsight is great, and understandably should have picked up that the initial deposit wasn't noted on the second vehicles financial documents. However at the time we had a new born baby, moving house and life was all a bit crazy. That being said, it is quite clear from looking at the documents and emails threads between myself and the dealership that they agreed to replace the vehicle like for like.
Cheers all, you've been a great help in the past.
In 2022 I purchased a car from Peugeot, there was a £4,600 down payment. Within a few months it had developed a number of faults, the dealership recognised this and replaced the car with another, pretty much like for like replacement. The initial contract was honored, same term, same warranty term, same monthly payments etc.
I am in the process of purchasing another vehicle, I have been told that I am currently in negative equity by around £2,600. Due to this I thought about a VT, however I have looked at the financial documents and there is no mention of the initial deposit, other than on the first contract for the faulty vehicle.
I have tried to explain this to the finance company (Stellantis), explaining that we have now been left out of pocket and financially detrimental through no fault of our own. Unfortunately, Stellantis aren't interested and referred us back to the initial dealership. As you can imagine, they are even less interested and have done nothing more than send the 2 copies of the order forms and financial documents.
Where do I legally stand with this? I realise hindsight is great, and understandably should have picked up that the initial deposit wasn't noted on the second vehicles financial documents. However at the time we had a new born baby, moving house and life was all a bit crazy. That being said, it is quite clear from looking at the documents and emails threads between myself and the dealership that they agreed to replace the vehicle like for like.
Cheers all, you've been a great help in the past.
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