How do I get out of this please?

sandralovescats

I checked up on Capital Bank - they are part of the Bank of Scotland Corporation

seven-day-weekend

Sorry, I can't offer any suggestions to the car loan, which sounds horrendous, but once you have got out of it, is it possible for you to you buy an older car for cash? Or evn have another type of unsecured loan, not specuialised car finance. I think most car loans I've seen appear to be swindles.

shinkyshonky

Hi Sandra
I hope it get`s sorted out for you

Plutos_2

Have you rang them up? Tell them you just want to swap the car for something of similar (or maybe even less) value

rog2

sandralovescats wrote:

I checked up on Capital Bank - they are part of the Bank of Scotland Corporation

You could try writing directly to the chairman of the Bank of Scotland Corporation, and point out that you feel you are being unfairly treated in view of your circumstances. Might get some result.

rosscobley

Just call them ask for a settlement figure. Tell them you are looking to change the car and ask them if they will refinace your new one. see what they say first before worrying about it.

When you go and buy a new car the new company will clear the old ones debt. it happenes all the time with car credit. I have just spoke to mine about changing my car and they gave a settlement figure over the phone..

they might even be willing to refinace the new car for you. The garage can play around with prices and you will be fine

rog2

rosscobley wrote:

Just call them ask for a settlement figure. Tell them you are looking to change the car and ask them if they will refinace your new one. see what they say first before worrying about it.

When you go and buy a new car the new company will clear the old ones debt. it happenes all the time with car credit. I have just spoke to mine about changing my car and they gave a settlement figure over the phone..

they might even be willing to refinace the new car for you. The garage can play around with prices and you will be fine

OP has already done this and therein lies the problem - Capital t+c means that the settlement figure is higher than original loan, due to punitive early settlement rates. That's why he/she is asking for advice:beer:

sandralovescats

Thanks for all of your advice, it is much appreciated.
I see the Solicitor on Tuesday, about another issue, so will ask him about the Contract with Capital then.
I saw the Orthopaedic Surgeon who is wanting to do a full left ankle replacement, as I thought would happen.
A car with automatic transmission is a must.

Will let you know what happens next!

joules_2

Only just seen this but from the basic info provided the agreemnet is contrary to provisions of the Consumer Credit Act on rebate on early settlemnets. Clause is accordingly unenforcesable. The term would also be an Unfair term under provisions of the Unfair Terms in Consumr Contract Regs....Would suggest you have misread in some way.Suggest visit to your local Trading Standards who should be able to calcualte the amount owing on settlemnet.

nemo183

I'd get some proper legal advice. There is a whole pile of case law that says whatever contract you sign, if it contains clauses that are neither fair or reasonable, they cannot be enforced.