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      11-03-2011, 08:52 AM   #1
benji90
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Cancelling a UK order

I am in a very awkward position. I ordered a 1M in July this year and it is due to arrive next week. It is becoming clear that I really cant afford this car. I am hugely embarrassed as I am not the sort of person that normally reneges on a deal.

My question is what are my options? What happens if I just refuse it at the dealers? Is there still a strong market for new 1Ms? Will they be able to sell the car easily enough? Am I better to buy the car from the dealer and then shift it on the private market?

Any advice would be gratefully received at this point!
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      11-03-2011, 09:16 AM   #2
biggles
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Quote:
Originally Posted by benji90 View Post
I am in a very awkward position. I ordered a 1M in July this year and it is due to arrive next week. It is becoming clear that I really cant afford this car. I am hugely embarrassed as I am not the sort of person that normally reneges on a deal.

My question is what are my options? What happens if I just refuse it at the dealers? Is there still a strong market for new 1Ms? Will they be able to sell the car easily enough? Am I better to buy the car from the dealer and then shift it on the private market?

Any advice would be gratefully received at this point!
If you can't afford it you can't afford it simple as. It's not your worry how easy or hard it will be for the dealer to sell on, just be totally honest and see what they say. How much deposit have you placed?
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      11-03-2011, 09:19 AM   #3
benji90
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£1K. Which I am prepared to loose, no issues. Just feel dreadful about it though!
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      11-03-2011, 09:23 AM   #4
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Speak to the dealer, there's a good chance they may be able to place it with someone else, in which case they may give you your deposit back.

I wouldn't try to sell it privately.
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      11-03-2011, 09:24 AM   #5
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Originally Posted by Schnorbitz View Post
Speak to the dealer, there's a good chance they may be able to place it with someone else, in which case they may give you your deposit back.

I wouldn't try to sell it privately.
Forgot to say, time is of the essence here, if they register the car then you're in a much weaker position. Good luck!
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      11-03-2011, 09:28 AM   #6
ChrisBuer
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Well if you've only placed a deposit on the car (mine was fully refundable), then you are totally within your rights to say "sorry I don't want the car anymore".

I would simply tell them that your circumstances have changed (blame the markets, everyone else is ) and that you can no longer complete on the car.

I certainly wouldn't take delivery of it and then try and sell it. Also, the dealer probably won't mind a bit as it's the sort of car that they'd like to stick in their showroom!
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      11-03-2011, 09:28 AM   #7
biggles
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Quote:
Originally Posted by Schnorbitz View Post
Speak to the dealer, there's a good chance they may be able to place it with someone else, in which case they may give you your deposit back.

I wouldn't try to sell it privately.
Agree with that, it's not like it's an undesirable model but I wouldn't risk taking delivery as it'll add another owner onto the V5, and though unlikely you could be stuck with it for a while as there are plenty for sale on pistonheads. Good luck!
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      11-03-2011, 09:45 AM   #8
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They, or you, shouldn't have a problem selling it. Especially in the U.K. since you ONLY GOT 450 units in TOTAL!
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      11-03-2011, 11:12 AM   #9
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Defintely own up and be honest with the dealer.

If dealers are buying them from owners now for almost retail price then I can't see there being an issue for your dealer.

However you may have more problems trying to sell it privately as there were a large number for sale on Autotrader recently. I'd expect potential buyers would go for a dealer car too over a private sale.
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      11-03-2011, 02:04 PM   #10
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Quote:
Originally Posted by ChrisBuer View Post
Well if you've only placed a deposit on the car (mine was fully refundable), then you are totally within your rights to say "sorry I don't want the car anymore".
Once it's gone to build they can keep your deposit.

However, they'll have no problem selling the car - in fact, you could help by making a post here asking people looking for a 1M to contact you so you can introduce you. I would absolutely expect my deposit back in that situation.

If you still need *a* car it is in their interest to keep you sweet - maybe you'll buy an ex-demo something else from them?

Well done for being sensible.
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      11-04-2011, 12:27 AM   #11
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I doubt you'd have a problem. So many people would be willing to buy it I'm sure.
Let them know and I wouldn't be surprised if your car was showcased with a premium.
Best of luck
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      11-04-2011, 04:12 AM   #12
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Tell the dealer now and (from clived) - in fact, you could help by making a post here asking people looking for a 1M to contact you so you can introduce them. I would absolutely expect my deposit back in that situation.

Really hope it works out ok for you.
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      11-04-2011, 05:38 AM   #13
benji90
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Thanks for all the replies guys. I have a meeting with the dealer on Monday to discuss all the options but they seem keen to help, so fingers crossed.
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