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Any help appreciated!
Andy14_2
Posts: 5 Forumite
Not sure if this is the right forum, but here goes!
Recently went to the car people to purchase a car. I applied on line for the finance and got a phone call to say I had been accepted. When I asked the APR they sadi they were unable to tell me. Later went to the dealership and arranged to buyu a car and was told the monthly payments, again no tinformed of the APR. Payed the £200 deposit and left.
Later got a phone call to confirm the agreement, but again was not informed of the APR.
On Saturday I went and signed the forms for the finance, again not informed of the APR or the total amount to be repaid (stupidly did not read the forms properly until returning home). Have read the forms and realised the APr is over 30%.If I had known this originally I woul have never put a deposit down in the first place.
I am now due to pick the car up on Thursday, but wish to cancel the agreement.
Q. Should I be bale to cancel the agreement as I have not taken possesion of the car?
I feel really har done by, as at no point before putting down a non-refundable deposit was I informed of the APR.
I due to ring again tomorrow and any adice would be greatly appreciated.
Recently went to the car people to purchase a car. I applied on line for the finance and got a phone call to say I had been accepted. When I asked the APR they sadi they were unable to tell me. Later went to the dealership and arranged to buyu a car and was told the monthly payments, again no tinformed of the APR. Payed the £200 deposit and left.
Later got a phone call to confirm the agreement, but again was not informed of the APR.
On Saturday I went and signed the forms for the finance, again not informed of the APR or the total amount to be repaid (stupidly did not read the forms properly until returning home). Have read the forms and realised the APr is over 30%.If I had known this originally I woul have never put a deposit down in the first place.
I am now due to pick the car up on Thursday, but wish to cancel the agreement.
Q. Should I be bale to cancel the agreement as I have not taken possesion of the car?
I feel really har done by, as at no point before putting down a non-refundable deposit was I informed of the APR.
I due to ring again tomorrow and any adice would be greatly appreciated.
0
Comments
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Really not sure how the deposit woudl work but i believe you have a length of time in which to change your mind. I would try calling the nationaldebtline to confirm how long this is and the proper procedure for doing it.After falling off the gambling wagon (twice): £33,600 (24,000+ 9,600) - Original CC Debt: £7,885.91
Dad Gift 6k ¦ Savings & Inv Tst: £2,500
Loan 10k: £0 ¦ Dad 5.5k: £2,270 ¦ LTSB: £0 ¦ RBS: £0 ¦ Virgin £0 ¦ Egg £0
Total Owed: £2,270 (+6k) 11/08/20110 -
Dont want to sound harsh but the APR andthe toalt amount payable have to be in the fomr that you signed you just didnt bother to read them properly by your own admission. The reason they didnt tell you the APr was because it was so high surely alarm bells should have starting ringing very loudly in your head. As to the solution i would say you should have a cooling off period I would read the forms you signed it should be in those.
Sorry if i seem a bit harsh!!Proud to be dealing with my debts :j:j
Debts at start of DMP £31000 :eek::eek:
Current balance £26454
DFD May 2013:D
Long Haul Supporters Club No 1940 -
im abit rusty on this but if i remember correctly if you went to their premises to sign for the loan there is no cooling off period,i will stand corrected in advance if wrong.
you may get better advice oh mse loans forum Andy0
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