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Flat Rate Fool
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alwynevans
Posts: 2 Newbie
in Loans
Hi,
I wish I'd visited this site before buying my used car yesterday.
Basically I feel conned by the car salesman as I asked him what the finance rates were and he said 5.8%. This is of course is the flat rate (I am now a flat rate fool!). I was told that they can usually better rates offered by banks etc. etc. turns out now that the rate is about 12% APR and I feel totally gutted instead of being happy I've just got a new car.
Is there anybody I can complain to as this was not explained to me at the time of sale?
I can get access to the money borrowed (parents) in order to pay back fully the amount borrowed, but I don't want to be charged any interest / penalties. Is there a time period when I can just repay the amount borrowed (i.e. some sort of 14 day period).
Please help asap.
I wish I'd visited this site before buying my used car yesterday.
Basically I feel conned by the car salesman as I asked him what the finance rates were and he said 5.8%. This is of course is the flat rate (I am now a flat rate fool!). I was told that they can usually better rates offered by banks etc. etc. turns out now that the rate is about 12% APR and I feel totally gutted instead of being happy I've just got a new car.
Is there anybody I can complain to as this was not explained to me at the time of sale?
I can get access to the money borrowed (parents) in order to pay back fully the amount borrowed, but I don't want to be charged any interest / penalties. Is there a time period when I can just repay the amount borrowed (i.e. some sort of 14 day period).
Please help asap.
0
Comments
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you should have a 14 day cooling off period.
If the salesman has lied to you about what the loan cost, Id be speaking with trading standards. Miselling financial products is not looked favourably on by trading standards.:beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0 -
-
dealers try to con people with a flat rate
When your quoted in future, remember to double the flat rate they give you
then add 1
to come up with the APR0
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