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Stupid Bank or Car Dealership??

Stupid Bank or Car Dealership??

Old Jan 8th 2009, 12:02 pm
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Default Stupid Bank or Car Dealership??

So I have a new car. I got the mortgage approval for the vehicle through a bank. The dealership gave me my car. I gave the insurance policy to the dealership to register my car. The bank will not pay the dealership because I have not yet given them an original of the policy. I have a car, dealership has no money. Free car? The sales guys wont stop calling me asking me to get the certificate to the bank.

No big deal but funny anyway.
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Old Jan 8th 2009, 12:06 pm
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Default Re: Stupid Bank or Car Dealership??

Originally Posted by AnotherWorld View Post
So I have a new car. I got the mortgage approval for the vehicle through a bank. The dealership gave me my car. I gave the insurance policy to the dealership to register my car. The bank will not pay the dealership because I have not yet given them an original of the policy. I have a car, dealership has no money. Free car? The sales guys wont stop calling me asking me to get the certificate to the bank.

No big deal but funny anyway.
******* eejits.....
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Old Jan 8th 2009, 12:26 pm
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Default Re: Stupid Bank or Car Dealership??

Originally Posted by AnotherWorld View Post
So I have a new car. I got the mortgage approval for the vehicle through a bank. The dealership gave me my car. I gave the insurance policy to the dealership to register my car. The bank will not pay the dealership because I have not yet given them an original of the policy. I have a car, dealership has no money. Free car? The sales guys wont stop calling me asking me to get the certificate to the bank.

No big deal but funny anyway.
The way it works is basically the bank gives an undertaking to the dealer that your loan will be approved and payment will be made subject to certain conditions being met - most important being a copy of car registration with mortgage in bank's favour and insurance assigned to bank.

The dealer has obviously overlooked the policy....if you have the car and haven't given the policy then the poor salesman will have the money recovered off him...
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Old Jan 8th 2009, 12:28 pm
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Default Re: Stupid Bank or Car Dealership??

Originally Posted by IndieG View Post
The way it works is basically the bank gives an undertaking to the dealer that your loan will be approved and payment will be made subject to certain conditions being met - most important being a copy of car registration with mortgage in bank's favour and insurance assigned to bank.

The dealer has obviously overlooked the policy....if you have the car and haven't given the policy then the poor salesman will have the money recovered off him...
The poor bastard. He said I'm supposed to have 3 originals of insurance. 1 for registration, 1 for bank and 1 for me. I only gave him 1 for registration. I might try and see how far this goes before you read about me in Gulf News. :P
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Old Jan 8th 2009, 12:49 pm
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Default Re: Stupid Bank or Car Dealership??

That is stupid - think banks only need a copy (certified true copy), what do they need the original for? Which bank is this?


Anyway the answer to your Q is therefore they're both stupid...lol

Last edited by IndieG; Jan 8th 2009 at 12:51 pm.
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Old Jan 8th 2009, 1:03 pm
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Default Re: Stupid Bank or Car Dealership??

Originally Posted by AnotherWorld View Post
So I have a new car. I got the mortgage approval for the vehicle through a bank. The dealership gave me my car. I gave the insurance policy to the dealership to register my car. The bank will not pay the dealership because I have not yet given them an original of the policy. I have a car, dealership has no money. Free car? The sales guys wont stop calling me asking me to get the certificate to the bank.

No big deal but funny anyway.
mrs spugsy got the jeep, got the fianance, had to sign FORTY EIGHT cheques for the bank, then they lost them, complained, she had the jeep for 3 months until they rang her, she was 'well the moneys waiting to come out', the guy was a real arsehole, I was going to have a serious word with him but eventually after him meeting her THREE times it got sorted - they are backwards over here when it comes to banking, finance etc...
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