Servicing Paid in Advance - WARNING

Started by roger, March 16, 2009, 12:58

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roger

March 16, 2009, 12:58 Last Edit: January 1, 1970, 01:00 by Guest
We have had a couple of instances at work where clients have paid for servicing in advance - at the behest of the garage, which has or is about to cease trading.

On the face of it a straight forward payment in advance in this situation would be lost, or at least you would have to line up with other creditors.

If you are considering this, I would strongly suggest you pay for it by credit card. Adding it to an HP agreeement is unlikely to give you the same comeback.

If you are in one already, you might want to renegotiate with the garage if you feel vulnerable.

There may be very different types of schemes around, so be aware. You have been warned.
Roger

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davidhowson

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March 16, 2009, 15:57 Last Edit: January 1, 1970, 01:00 by Guest
I can add to this that I am aware that franchised Toyota dealers must hold funds paid in advance by customers in a separate trust account and that Toyota GB will act on behalf of any customer that gets caught in a dispute with receivers / administrators etc. - This applies to The Warranty Group and EMaC plans only.
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