Signing Finance Documents Early

[AlanUK]

Hi all,

Not sure if I've posted this in the correct place but here goes.

I've just done a deal on a year old Avensis but can't take delivery until later in May (building new garage)

The Toyota dealer has offered to store the car up to 8 weeks but wants the finance docs signed now. This means I still won't have taken delivery of the vehicle when my 14 days are up.

Neither me nor my partner are totally happy with this, should we be concerned or just get on with it?

Thanks for your advice

[Raistlin]

They probably want the sale in before the end of the financial year, ask them what will happen if you don't sign

[AlanUK]

Thanks Raistlin,

It will definitely happen on the Access plan but we did feel uncomfortable signing before taking delivery. Our main concern was what happened if anything happened whilst the car was in their care.

If it got damaged and needed to be re-sprayed it can change the value of the car (as it goes on the cars hostory?). But obviously when we are out of the 14 day period we are stuck with the finance.

My good lady is very good at picking up on these things at first I couldn't see any real problem but she got me thinking :-)

I've already squeezed a really good deal lol and didn't know if I was taken the micky!

[Heidfirst]

if you don't sign the docs they don't get paid so the car isn't sold. Whilst it is on their books it is costing them money.

[AlanUK]

Yes Heidfirst,

I appreciate that, and negotiotions shouldn't go all one way, I'm more concerned about the legal side, I have zero recourse after 14 days.

That said in normal circumstances I'm not quite sure what would happen if you purchased the car on finance and then had a problem with the car. I guess you're still stuck with the finance as they are two different items.

[Heidfirst]

the alternative is not to sign the docs now & hope that they don't sell it in the next 8 weeks. Or find another car when you are able to sign the docs.

As for the finance it depends how you are borrowing, sometimes it is the finance company that becomes liable for faults.

[AlanUK]

Thanks Heidfirst,

I guess I need to go into the showroom and sit down with a coffee and discuss this over and explain my fears in person. However I will try what Raistlin said first, nothing to lose.

Will post back with outcome

[Parts-King]

The motor trade operates their sales performance targets in quarters. If (as now) the end of quarter one is approaching, then certain bonuses and offers will expire at the end of the quarter, and new deals offers take place from day one on quarter two. The deal you have been offered will be based on these offers. Why not do the deal and take delivery and store the car at a family or friends address? The contract will be when you signed it from

[AlanUK]

Hi all and many thanks for your advice I signed up with the deal last night so the quicker I get my carport built the quicker we get our new car.

Am really pleased I'm sure everything will work out just fine!