Talk Morgan Forums Talk Morgan Members Section Dealer Talk Who Is Financing Revolutions in Perth

Jon, Stewart: Thanks for that clarification. I'm sure I'm not the only one who would have misinterpreted the £30K limit.

I certainly had.

https://www.moneysavingexpert.com/shopping/visa-mastercard-chargeback/

Chargeback on Visa looks like it could be more useful.

It's also worth asking the supplying Dealer if they have a separate client deposit holding account too, and get a written receipt to that effect

Good point.....

Not related to Revolutions in Scotland -however placing a large deposit when I ordered my 3 wheeler did make me search out which dealer was "safest". I was genuinely concerned I'd lose the money if the dealer went pop. Luckily its rare - but its cash I couldn't afford to loose. The dealer didn't go bust and the 3 wheeler duly arrived.

Illustrated some years back when my wife dropped off her Fiat 500 one morning for service. Nothing untoward - forecourt and showroom awash with new and slightly used cars, potted palms, desks, coffee machine all present along with lots of staff. Come 4pm and car collection - all stock gone, only I desk left along with a single member of staff to hand over the days service work. Even the pot plants had been cleared out. Gone bust that morning. Very sad for all concerned but what if you'd given them a deposit?

I can understand Revolutions attitude in a way - its all about reputation I guess. Still due diligence is required if your placing a deposit - surely everyone checks such things first?

Another reason to take out a PCP deal: that way your contract is with the Finance Company. Most, but not all, PCP providers allow the full amount to be paid off early without penalty.
MMC now offers a PCP through its dealers, it would be interesting to see the T&C of the offer.

Wow,,,,

There may be some further changes to this entity

tracking PERTH SPORTSCAR LTD with Company Search MadeSimple.

We would like to notify you of the following changes to this report:

Company Status changed, Credit Limit changed, Credit Rating changed

Given the sale or return scares and much else I have read in the last few years would make anyone`s hair go grey, just as well I don`t have much hair..

I have ZERO legal training.... Seems in "sale or return" it is possible that unwittingly you as much as give ownership of the vehicle to the dealer and if/when it all goes wrong, it seems to be a civil matter and not a criminal one, allowing he/it/them a route to open up again under a "different" owner as a new business, having cleared the decks for a bit more of the same... He who determined the law was an ass, seems too have perhaps got it right.. And if one adds the complexities of debt to GDP ratio of UK plc and the average thereof in the general populace, and additionally the imagined Covid affect on many businesses... Who knows what the new normal might be.. Did I hear someone spitting out their tea... ? Sorry.

Just over 12 years ago( following on from the 2008 financial, crash) I had a Mercedes E Cabriolet in storage and on consignment for sale with a well known and respected Mercedes classic dealer. I read very carefully the T&C's and had a retention of title clause added so that title did not pass from myself until I received cleared funds in my nominated bank account. Despite all the due care etc......within a short period of time my car plus 15 others also on consignment had been sold without our knowledge, DVLA was not notified and the dealer went into bankruptcy. Many of the cars had been sold to a sister company and then on sold to private individuals, mine had been sold abroad to Ireland. First I knew of what had happened , was an invitation from the liquidator to supply vehicle details etc and prove my claim as an unsecured creditor in the administration/bankruptcy of the company.

The Creditors Meeting the company had no funds and massive debts, and it was clear that fraudulent /wrongful trading had been going on and goes without saying some pretty pissed off former car owners' creditors. not only did the company have no funds to pay out but all the various individuals (creditors) car insurance companies refused to pay as the vehicles were on RTA policies and the owners' had supplied the keys to the company. The Police weren't interested as they saw it as a civil matter even though fraud could clearly be demonstrated. I had however put my car on a storage policy not RTA policy and was the only vehicle on a retention of title contract, my insurers did pay out, so much so, that my car had gone up in value and they paid out 60% more than I had for the car only 2 years earlier.

No matter how careful you are, things can and do happen very quickly and often beyond your control to rectify. I was very fortunate in putting my car on a storage policy and not relying upon the vehicles RTA policy.