car leasing trouble please help it is complicated

mairebt71

I hired a jeep under a leasing agreement, after the 4 years was up (20,000) later, I brought it back to the orginal dealership that I acquired the agreement with. When I returned the car the sales rep phoned the bank of scotland and they said there was nothing owing on the car and it could be sold on for a small percentage of the sale price. I traded the jeep in and acquired a volxwagen and part financed the new car. About 6 months later i received invoices stating I owed the bank of scotland money. i contacted them over 40 times over a period of 6 months and despite promises to get back to me, the issue was never resolved until I made a formal complaint in Nov. They have invesigated the matter and said I should have returned the car and I now owe them 6000 ponds(the sale price at the time). The dealership have recorded that I paid cash and part finance for my volxwagen and they orginally denied any knowledge of even having the jeep. They now have informed the bank of scotland that they sold the car on my behalf for scrap and gave me cash,,,,which was never the case. Has anyone any advice?

Eydon

Usually these hire purchase schemes for cars involve you paying a set amount each month for a finite period, and then a final, one-off payment at the end if you want to keep the car. I suspect that the £6000 that you owe is this final figure.

You would need to check the terms of your contract that you got when you started the hire-purchase agreement, but I'll be surprised if there was no final payment due.

Brock_and_Roll

Well the easy way to work this out is as follows:

Can you remember how much was the jeep originally?

If you paid £20k in lease payments over 4 years, then at an approx finance rate of 15% APR this would equate to a purchase price of £15k. If there was a £6k Final Payment, then the original purchase price for the Jeep would have been more like £18.5k