Kia Sportage price increase after full payment

[geosajjad]

I have booked kia sportage in October 2021 with full payment. At the time of booking, i was informed that the price increase will not impact on me as the booking is with full payment. Booking is through bank as a car loan. Now the dealership is demanding extra money. I am already paying installments to bank and dont have extra money to pay extra amount. How can i get rid of it. From kia dealership or even from bank. Anyone suggest please

[rizla]

Not sure how these leases work but I think the responsibility for car delivery is on the bank? So any price issues should be addressed by the bank, even if they adjust it later in your lease payments.

[fastian04]

no, it's the customer who has to pay the extra payment. Bank has no liability at all. The customer has to pay whatsoever.

[fastian04]

The reason is Kia never asked for full payment. It was bank that submitted full payment. This is the reason Kia is demanding the extra amount and it cannot be challenged unfortunately.

[geosajjad]

I have talked to kia lucky motors through its main helpline. I have been told by the representative that my full payment would be refunded through my leasing bank, if i am unable to pay the increased price. Should i trust this as i have been befooled before by the dealership at the time of booking that the price change will not impact in case of full payment. I fear about hidden charges by the kia motors.
Second, MCB bank representative told me for the penalty of Markup charges, if i am unable to get the vehicle by paying the raised price. Any one suggest please, how can i get my payment back by avoiding the hidden charges or penalty of markup charges as i have received nothing

[azfarnb]

There are no hidden charges. Read your pbo and an administrative charge (5% i think) will be charged. I dont think you even read the terms on pbo? Khair belows is thw clause

The remaining amount of the Price shall be paid to the Company prior to the delivery date of the Vehicle. In case the Applicant fails to make payment of
the remaining amount of the Price, the Company reserves the right to cancel the order and shall refund the amount paid by the Applicant, less an administrative charge equivalent to 5% of the Price