car loan

sammy37

Just arranged loan with garage finance co.
On first payment found £150 charge for ADMIN for setting up the loan.
No mention when arranging finance at the garage.
Is this legal?

CLAPTON

what does the contract you signed say?

Apples2

Did you read what you were signing or just sign where he put the X ??

iolanthe07

This is a common scam, but if it is not in the small print you signed then they should not charge you.

melamoo

who is the finance company with, lots of companies do this with the first and last payments, GMAC and creation are 2 that come to mind. it is usually all explained when all the paperwork is sent out

macauley_2

Im the same just taken out a loan with Peugeot was quoted monthly payments but no mention of arrangement fees.Was also promised e mail copies of finance paperwork and am still waiting.Only found out about arrangement fee when I received payment dates of direct debits. Do I have any recourse and what should I do next

Apples2

You must have signed something before receiving the payment confirmations through the post.

What did the document you signed say??

Did you read it??

Did you ask if there were any additional fees??

sammy37

Thanks to everyone.
Yes I did sign, there was no mention of the fee.
I wasn't given a copy of the agreement at the time, since been sent one from the finance Co.
The finance was ongoing, I was updating the car, Never have I been in this position before, 40yrs of buying.
Learn by mistakes, expensive though it is.
Wont be using them again.
RCI Finance, Nissan Chorley Group