Car Finance - Help Needed

kevess

Hi there,

I took out finance on a car last August. The credit agreement i signed at the car dealer was for finance with Santander. This is what i dont understand. If i signed a credit agreement for Santander then why are my payments taken by Creation Finance ???

The only paperwork i have ever seen is the paperwork copies i took home with me the day i got the car, all Santander (Credit Agreement, Key Details & Direct Debit Form). When i called Santander they had no reference to the finance and after a search using the car reg told me the finance was with Creation. How can this be if i have never signed or seen anything from them?

Is this legal ??? What can i do? Should i request a copy if the credit agreement from Creation, which i now believe is Laser UK.

Any advise would be appreciated.

Cheers,

Kev

Tixy

Hi Kev

I would definitely look into this further - have you been back to the car dealer to ask about it? I would request a copy of the credit agreement from Creation.
It doesn't sound legal no. Have you checked your credit file recently? I wonder if it shows a search by Santander at the time, followed by one from creation? And to check whether the creation account shows on the credit file at all.

kevess

I will definatley be requesting a copy of the Credit Agreement from Creation. It was checking my credit file that made me think about this. My credit file has a search from Santander Consumer (UK) Plc on the date of the finance, as well as a search from Private & Commerical Finance Co. The finance on my credit file shows up as Open & Direct Retail Services, which i believe is Creation (now Laser UK).

Just doesn't seem right....

PNPSUKNET

it may of been a sub-prime referal by santander

kevess

If it was a referal then how come i have never seen anything from them or signed any of their paperwork?

Apples2

What exactly is the problem??

You have had the loan for the car, you have the car, you are making regular payments, the loan is running it's course.....

Are you simply looking for a way to stop repaying the money whilst keeping the car??

kevess

No not at all.

I just want to know the details of the loan. Am i still getting the right APR? What are the terms if i wish to pay off early. Just want to make sure that i still have the same terms i agreed too.