PCP and end of year registration issue

[truck71]

Quick version of a position I'm in:

Ordered Fiat 500 for my parents in October, delivery for end December.

Deal was very good, included taking PCP agreement, and was clearly supported by the dealer to contribute to 2016 registrations.

Car has been delayed with latest estimate for delivery 7th-10th January- no fault of the dealer.

Dealer still wants to register car in 2016 for obvs reasons- we are happy for this as it's a long term keeper and makes no odds.

Dealer however wants to commence the PCP agreement on 31/12/16 which I'm not happy about.

My assumption is the dealer can still register the car in 2016 but would have to stand the stocking costs etc until the car arrives. At this point we sign the PCP and the dealer gets paid out.

Does this sound right?

[Ste1987]

I thought finance agreeements had to start on the day you take delivery of the car?

[TooMany2cvs]

truck71 said:

Quick version of a position I'm in:

Ordered Fiat 500 for my parents in October, delivery for end December.

Deal was very good, included taking PCP agreement, and was clearly supported by the dealer to contribute to 2016 registrations.

Car has been delayed with latest estimate for delivery 7th-10th January- no fault of the dealer.

Dealer still wants to register car in 2016 for obvs reasons- we are happy for this as it's a long term keeper and makes no odds.

Dealer however wants to commence the PCP agreement on 31/12/16 which I'm not happy about.

My assumption is the dealer can still register the car in 2016 but would have to stand the stocking costs etc until the car arrives. At this point we sign the PCP and the dealer gets paid out.

Does this sound right?

You're asking them to register a car in your name, and tax it, without you paying for it.

[kiethton]

TooMany2cvs said:

You're asking them to register a car in your name, and tax it, without you paying for it.

Well he's not asking for them to tax it but allowing them to do so should they wish, same applies to the registration.

He's also not taking ownership so shouldn't be paying yet....a reg document is not proof of ownership - this wouldn't happen until the funds have been paid.....on delivery

[truck71]

TooMany2cvs said:

You're asking them to register a car in your name, and tax it, without you paying for it.

No. They're asking to register and tax it in our name for their benefit and asking us to take the pain with a PCP agreement starting before the car has been delivered.

[RRLover]

truck71 said:

No. They're asking to register and tax it in our name for their benefit and asking us to take the pain with a PCP agreement starting before the car has been delivered.

Common practice i'm afraid.
They need the registration for quarter end but they also dont want you to cock on the deal & they are left with a registered vehicle. Not to say you would but it does happen.
Ask the dealer to set the date of first payment from the 7th or 8th of Feb & ask for some fuel or mats, the dealer will be a large company so no issues on there part.

[DuraAce]

Where is the pain in paying one payment 7 days before delivery?
If they got the car to you before 31/12 you'd have to pay (and were planning/expecting to anyways)
Having said that, isn't the first payment due one month after collection? Get them to set that to 8th Feb.

Not a big deal IMHO.

[truck71]

RRLover said:

truck71 said:

No. They're asking to register and tax it in our name for their benefit and asking us to take the pain with a PCP agreement starting before the car has been delivered.

Common practice i'm afraid.
They need the registration for quarter end but they also dont want you to cock on the deal & they are left with a registered vehicle. Not to say you would but it does happen.
Ask the dealer to set the date of first payment from the 7th or 8th of Feb & ask for some fuel or mats, the dealer will be a large company so no issues on there part.

Yep that's what I've suggested as a resolve, happy for the agreement to start on 15th Jan by which time the car should be delivered. Unfortunately the sales manager is at the limit of his capability and has pressed the "we'll have to cancel the deal then" button. I'm going to have to coach him through it, just wanted to be sure the dealer could register and stand the cost themselves.

[truck71]

DuraAce said:

Where is the pain in paying one payment 7 days before delivery?
If they got the car to you before 31/12 you'd have to pay (and were planning/expecting to anyways)
Having said that, isn't the first payment due one month after collection? Get them to set that to 8th Feb.

Not a big deal IMHO.

If the car turns up in a week or so then yes, you're right. However what if the delay is greater than that or we want to withdraw from the finance agreement in the 2 week period and need to settle the balance but don't have a vehicle..

[essayer]

Doesn't that mean the agreement ends a week early too?

[truck71]

essayer said:

Doesn't that mean the agreement ends a week early too?

Exactly, the folks won't get the full benefit of the PCP term.

[TooMany2cvs]

kiethton said:

TooMany2cvs said:

You're asking them to register a car in your name, and tax it, without you paying for it.

Well he's not asking for them to tax it but allowing them to do so should they wish, same applies to the registration.

In return for a lower price.

And you can't register it without taxing it...

[essayer]

truck71 said:

Exactly, the folks won't get the full benefit of the PCP term.

Or the the week's free insurance, if it's something Fiat do