Help needed - conned into car finance, but my own fault

jules260703

Hi everybody, I've lurked on here several times but this is my first post.I can't believe how stupid I've been, but here's my rather long story...Saw an advert on tv for two year old cars at a good price, so went along to the main dealership to try it. Was told that they had all sold because the deal was so fabulous, but could take an older (and different spec.) model for a test drive. Did this, liked it, and was told that there would be more coming in in a weeks time, but they would sell out as soon as they came in.Was asked about finance, and I said I wasn't sure, but would probably get a bank loan. Anyway, he told me about all the marvellous extras that could be done, including diamond brite, gap insurance etc, and The guy quoted me some figures, and I said they looked good, but I would look around further.After an hour, I put down a £400 refundable deposit to have a look at one of the cars coming in, there was a particular car he thought was really good. I checked four times, and was assured that if I didn't like the car, or changed my mind I could get my deposit back.Now for the most stupid thing I have EVER EVER done. Signed the piece of paper that was put in front of me without reading it (he informed me it was a load of rubbish, but was just saying that I had paid a refundable deposit, and I trusted him).He also signed it, and I took an unsigned copy of the agreement with me. Now he has phoned to say the car is in. Have looked at the paper, and I have signed up to car finance.Phoned him back in horror, he is saying that unless the car is not as described I have agreed to buy - and he says it is exactly as described, and as I have already test driven one, this one will drive exactly the same. I have said I will take it for a test drive tomorrow, and am hoping it doesn't drive exactly the same, but he obviously has no intention of letting me get away easily.I can't believe that I have signed an agreement for a car that I haven't even seen or driven. I realise that there is no cooling off agreement as I signed at the dealership, and I was incredibly stupid to sign something without reading it, but I am now really having second thoughts about the whole thing, particularly as I don't like their sales technique, and if I buy the car I will hate it because of the way it was sold to me.Has anybody got any advice whatsoever (apart from the obvious read everything you sign - have just learned that the hard way).thanks for reading.

davetrousers

Is there a cooling off period?

I don't really know about these things, but it may be cheaper in the long run to lose £400 (in one hit) than go with an unsuitable finance deal. Hopefully it won't come to that. Have you got any details about the finance, % amount and term?

jules260703

No, if it's signed in the dealers premises there is no cooling off period. Hopefully this may at least serve as a warning to other people.

jules260703

The finance deal is not too awful, but I don't want the extras added on, and he has told me I won't just lose my deposit, I have to pay the finance as well. Deposit I can cope with losing, but not the total of £8500, over three years for a car that costs less than £6000.

davetrousers

Are there any early payment clauses/penalties?

Hintza

You need some proper legal advice but whilst waiting for that if you have the time park yourself in their showroom and be loud about it. Make life difficult for them.

jules260703

I've got no idea if there are any early payment clauses - he said there wasn't if I did it through them, but I don't trust him. Hubby phoned and spoke to dealership, and pointed out there finance wasn't very cheap, and other loan companies are more competitive, and they have said he is sure they can match them. Trouble is, I'll hate the car everytime I look at it, especially as I had just decided to get my current one fixed instead of buying another one (I thought I could do this as I believed I had signed refundable deposit to test drive car and get first refusal). Just phoned CAB who said to phone trading standards, and to go to dealership and kick up a huge fuss, but that I may have to cut my losses and end up with the car or go down an expensive legal route.

DealDrivers_company_representative

You say you "paid a £400 deposit to look at one of the cars he had coming in"?? This bit doesn't make sense...you don't pay a deposit to have a look at a car...you pay a deposit to firmly order a car.

I don't of any dealer that makes people pay a deposit just to look at a car when it comes into their stock...

You can look at cars for free in any showroom in Britain...paying a deposit and signing any sort of paperwork in a showroom signals a clear intent to purchase something specific from them...surely?

Are we getting the full story?

Inactive

Surely the finance documents must have a car registration number on them?

MORPH3US

Go down to said garage on Saturday with some home made signs telling people what an honest garage they are...

By the time you finish I imaging they'll pay you your £400 + more just to leave (if you don't get arrested first )

jules260703

Truly you are getting the full story, the guy kept hammering home that these cars are going as soon as they get into the showroom, and the £400 was a goodwill gesture, so we could get first refusal. Writing it down does make me feel very, very stupid. Finance agreement does have registration number on - the guy said that two cars would be going into showroom, and this particular one was lower mileage than the other. Can completely understand why it sounds suss - trust me, if I was reading it, I would think so too. Trading standards have said that as the agreement was signed, it's tough luck, but to put everything in writing and let the finance company know that we are disputing the sale as well. They have said they may look into the salesman misrepresenting the facts, but it's his word against ours.