when you have signed off finance loan (Problem)

[SBSP]

I bought a Secondhand bakkie.

My previous car was a velociti 1.4i 2005/2006 model (I was the only owner and bought it out the box)
Physically a 2005 model but registered as a 2006 model as i got it on the 24th december 2005

VW told me that when i sell it again i can sell it as a 2006 model.
So since then i was convinced its a 2006 model.

So last week i traded it in on a double cab.
all went well untill i was there on friday.

He told me that there is a problem , I told them its a 2006 model and the bank says its a 2005 model.
and i have to pay in a difference of R4800. (I already have the double cab and its the finance and everything else is signed for)

In my opinion i was under the impression that it was a 2006 and not a 2005 model since the Km only started from 25 Dec 2005. But the car is not what i said its what it realy is.

And it was his duty to make sure of the model name, then we couldive before hand argued what model the car really is.
Not after the sale has been made!

I dont have R4800 which i can just pay in, If i have known this
I couldive financed it in with the deal or reject it.
And i'm scared that this might lead to legal issues ? Can they force me to pay this amount in ?

[Rayne]

Yes.

[SBSP]

But Why?

[Rayne]

Because you traded a 2005 model and not a 2006 model and now the dealer's short paid.

Hammer on the fact that the salesman never picked this up beforehand but, good luck with that.

[Belix]

raw luck mate. I know a couple people who put off registering their car for a few weeks to get a later year model, and have not heard any of em have trouble with trade-ins...

[SBSP]

This worries me.

I honestly dont have 4800 and its inconvenient for me as the citi is not on my name anymore
and the D/cab is , My Insurance , fuel card and everything has been changed to the d/cab.

If they carry on with this going to have to cancel the finance and take my car back i dont need idiotic
problems like this.

I think i have 15 days to cancel the finance.

[KillerByte]

my father only took possession of his car on the first week of the year because he wanted it registered as 2006 instead of 2005

[Rayne]

SBSP did not await a new year and so the bank invoiced December 24th 2005, hence his little problem.

No need to go to extremes and cancel the finance, just ask them to work something out.

[SBSP]

I cant cancel it anyway i phoned wesbank just now, They said there is no cool off period.

And the finance and car is in my name the day of delivery.

Thats it further more the problem is between me and the dealer.

And i am lia ble for the 4800

SBSP did not await a new year and so the bank invoiced December 24th 2005, hence his little problem.

No need to go to extremes and cancel the finance, just ask them to work something out.

Tnx atleast ive been dealing with the sales person in a propper manner, i'm just going to explain to the guy i dont have
R4800 will ask him if i can pay it off.

[Sojourn]

Short answer, you will have fork out the R4.8k.

202/20 Hindsight answer.... why did you sign the documents end of December and not 1st thing in Jan ?

[maxxis]

Phone another dealer and check the difference between a 2005 and 2006 on trade in. Not retail

Offer the dealer that and see what they say provided its less that R4800. This really is a sticky situation but falls more or less into the latent defect clause that you get with cars. If a dealer buys a car from you on trade they cannot claim latent defect on something on a vehicle since they are the experts in the field with all the resources at their disposal to check the car properly.

Then again. Should this go the legal route the law might just find in your favor. You did not hide anything from them and since they are the experts they should have checked the documentation before making you the offer.

[lancelot]

You offered to purchase, they accepted your offer, that part is OK BUT you have nothing except that the car is a 2005 model. You fraudulently told them that it was a 2006! You signed saying the info you gave was true, you are in a spot of bother. Take a loan from the bank, offer to pay it off, ask Wesbank to extend the loan to cover the amount.

[SBSP]

You offered to purchase, they accepted your offer, that part is OK BUT you have nothing except that the car is a 2005 model. You fraudulently told them that it was a 2006! You signed saying the info you gave was true, you are in a spot of bother. Take a loan from the bank, offer to pay it off, ask Wesbank to extend the loan to cover the amount.

Dont use the word fraudulently cus you dont know what you are talking about.

[Firestrm_ZA]

You offered to purchase, they accepted your offer, that part is OK BUT you have nothing except that the car is a 2005 model. You fraudulently told them that it was a 2006! You signed saying the info you gave was true, you are in a spot of bother. Take a loan from the bank, offer to pay it off, ask Wesbank to extend the loan to cover the amount.

Dont use the word fraudulently cus you dont know what you are talking about.

lets not get aggro here, what lancelot said is true. it was fraudulent in a way. not the deliberate "im stealing money from my company way". for your sake i hope you get sorted out and dont have to pay the 4800 in one go....

at least you learnt a lesson though

[SBSP]

LOL I'm not being aggro.

You fraudulently told them that it was a 2006!

There is a differance between error and fraud.

Error = represents an unintentional misstatement of the financial statement. it may be material or immaterial. = Me

Fraud = represents an intentional misstatement of the financial statement which can be material or immaterial. = Not Me

You signed saying the info you gave was true,

And where did i sign this ? I have signed to say that my personal info is true such as my address.

Its easy to just say things! Like Lancelot and hell even like my self i said its a 2006 and its not.

Lancelot i wont be calling you a fraud though , i rather say you said what you said in error.

[hamin_aus]

Well, I'm calling the scorpions on you. I'll bring them out of retirement.

You are most certainly a con artist and probably the head of a syndicate going around scamming used car dealerships out of money.

Shame on you - when the motor industry is in such a crisis!

[Firestrm_ZA]

[SBSP]

Well, I'm calling the scorpions on you. I'll bring them out of retirement.

You are most certainly a con artist and probably the head of a syndicate going around scamming used car dealerships out of money.

Shame on you - when the motor industry is in such a crisis!

Hi Jack.

[lancelot]

LOL I'm not being aggro.

You fraudulently told them that it was a 2006!

There is a differance between error and fraud.

Error = represents an unintentional misstatement of the financial statement. it may be material or immaterial. = Me

Fraud = represents an intentional misstatement of the financial statement which can be material or immaterial. = Not Me

You signed saying the info you gave was true,

And where did i sign this ? I have signed to say that my personal info is true such as my address.

Its easy to just say things! Like Lancelot and hell even like my self i said its a 2006 and its not.

Lancelot i wont be calling you a fraud though , i rather say you said what you said in error.

I meant no offence, it is a legal term only, I have no doubt that you are honest and would not do such a thing on purpose. If you look at the forms that you signed, on the back, in small print it will state that the information you gave was correct. A court does not accept "error" I am afraid. Remember too that you have stated here that you knew the car was a 2005 model, that VW told you the same and bull dusted you in saying that you could call it a 2006 model when registered in 2005, that is the rub!

[SBSP]

Oh ok,
Thanks for the advice. I'm known for finding things offensive too quick, You should see me in the office.

[Tribble]

It is a simple matter - what does it say on the registration document of the car? If it is 2006 then there is nothing he can do - if it is 2005 then there is nothing you can do.

[lancelot]

The formal reg papers at the licence office have it as a 2005, pity.

[SBSP]

It is a simple matter - what does it say on the registration document of the car? If it is 2006 then there is nothing he can do - if it is 2005 then there is nothing you can do.

We are waiting for that. E natis form or something.
But the bank owns the pink slips an on that it says its a 2005 model.

I'm sure it will say its a 2005. Cus if you think about it , it is.

[Tribble]

It would also be on the license disk on your car.

[SBSP]

It would also be on the license disk on your car.

Unfortunately its not. Its not even on the form where you cut out the disk.

I also thought it would be.