Carcraft 0% and £99 repayments for a year - Lies?

firemansam911

Hi guys,

My wife bought a new car at Carshaft almost a year ago, and paid for £7k of if on finance via Creation Finance Ltd. The saleswomen offered us several finance deals, and the one we went for was 0% for 12 months with repayments of £99 a month. Our intention was to pay the £99 for 11 months then pay off the remaining £5,900 just before the 12 months expired to avoid the high interest rate that would come into effect. We expressly discussed this with the saleswoman, who assured us this was absolutely fine and was indeed what most customers on that finance deal did.

However, we rang Creation Finance yesterday to pay off the balance of the loan, only to be told that the loan had been accruing interest from day 1, and that this meant the settlement figure was £7,700, even though we had paid £1,100 via our £99 a month payments. We have some but not all of the credit agreement information as we have moved house since we bought the car, but can find no reference to the 0% period. However, we accutely recall the huge advertisement boards and flyers all over Carcraft describing this 0% for a year deal.

We are yet to speak to Carcraft, but just wondered if anyone here has had a similar experience or indeed were sold the same deal? We really don't think we have fabricated the 0% deal, but it is not beyond the realms of possibility!!

Thanks for your help in advance!

Sam

Flyboy152

firemansam911 wrote: »

Hi guys,

My wife bought a new car at Carshaft almost a year ago, and paid for £7k of if on finance via Creation Finance Ltd. The saleswomen offered us several finance deals, and the one we went for was 0% for 12 months with repayments of £99 a month. Our intention was to pay the £99 for 11 months then pay off the remaining £5,900 just before the 12 months expired to avoid the high interest rate that would come into effect. We expressly discussed this with the saleswoman, who assured us this was absolutely fine and was indeed what most customers on that finance deal did.

However, we rang Creation Finance yesterday to pay off the balance of the loan, only to be told that the loan had been accruing interest from day 1, and that this meant the settlement figure was £7,700, even though we had paid £1,100 via our £99 a month payments. We have some but not all of the credit agreement information as we have moved house since we bought the car, but can find no reference to the 0% period. However, we accutely recall the huge advertisement boards and flyers all over Carcraft describing this 0% for a year deal.

We are yet to speak to Carcraft, but just wondered if anyone here has had a similar experience or indeed were sold the same deal? We really don't think we have fabricated the 0% deal, but it is not beyond the realms of possibility!!

Thanks for your help in advance!

Sam

The first thing to do is to request copies of the fiance agreement from Creation, that way you will at least be in an informed position. Secondly, you need to write to CarCraft, identifying your complaint and giving a them a reasonable time to respond (fourteen days, shoudl be enough).

Don't expect them to respond satisfactorily; they are more than likely to say something along the lines of, "you should have read the agreement before signing," or "we have no recollection of your assertions that we were offering a 0% deal," or "the 0% deal was a different product." All of this is somewhat irrelevant, as you need to complain to them in writing, giving them the opportunity to respond, in order to file a complaint with the Financial Ombudsman Service.

The FOS will have records of similar complaints if CarCraft have been ripping off other customers in a similar way and they will be happy to receive your complaint.

forgotmyname

If the agreement failed to mention the 0% for 12 months then maybe you did not qualify.

Possibly you had to sign between 10am and 10:02am whilst drinking a coffee and eating a donut whilst at
the same time providing a specimen sample.

I think that would be the get out clause you did not qualify for that offer.

Brian9193

Hi, My name is Brian and I can confirm that you are not alone! I bought a car from Carcraft in April last year. I was called at home on the pretext of having purchased from them before. Cut a long story short, I was offered £99 per month for twelve months with the options to either hand the car back, part ex at £99 per month for twelve months again or carry on paying at the increased payment of £528 per month!........opted for option one.
Surprise surprise, twelve months later, all deals are off, my case is now with the FOS, the only real difference is that I have an independent witness to the verbal promises made.
There are another two people I have made contact with who are in the same boat, all of us with Creation Finance.
I'm just sat waiting now for the conclusion of what has been one very stressful year.
Get in touch and we can stand together and help each other.

Best regards, Brian.

Flyboy152

I think this is something that will blow up in these crooks' faces.

rehabrebel

Son was offered a reasonable deal with some cashback to offset his increase insurance.
About a week later they wanted to sort a secondary loan finance deal-which was never mentioned. Told them where to go and current deal stood.
No apology or anything.
Check, check and check again any finance offered by them.

Enfieldian

Why do people not this in writing when it is offered and agreed?

A verbal agreement is pretty hard to refer back to.........

forgotmyname

You signed an agreement with the interest shown, If it doesnt show any interest free period them you wont have any.

They will just say you did not qualify for the offer.

Sister bought a car from them because she was desperate to get a car after hers was written off. Not an experience
i would want to go through again.

Salesmen were like sharks, Pounced on us barely seconds after walking through the door.

Flyboy152

Enfieldian wrote: »

Why do people not this in writing when it is offered and agreed?

A verbal agreement is pretty hard to refer back to.........

Because the dealer's business manager refuses to do a written quotation.

They use excuses such as:

"The system/printer is broken"

"The system doesn't allow print outs"

"You have to apply in writing for a written quotation"

"We don't need to give you a written quotation"

"We only have to give you a written quotation if you buy a car......"

The excuses are endless and sadly, far too many people believe them.

bigjl.

Flyboy152 wrote: »

Because the dealer's business manager refuses to do a written quotation.

They use excuses such as:

"The system/printer is broken"

"The system doesn't allow print outs"

"You have to apply in writing for a written quotation"

"We don't need to give you a written quotation"

"We only have to give you a written quotation if you buy a car......"

The excuses are endless and sadly, far too many people believe them.

Well anyone who swallows that and signs up is stupid.

vax2002

You agree to what you sign, in this country you can sign 1 bit of paper and never come out of gaol again, so read it, if it is pages and pages, take it home and read it, if you can not understand it, get it read by a legal expert, they generally charge £50 and can save you thousands of pounds by pointing out hidden clauses.
What comes out of sales peoples mouths is just hot air and nothing else, it can not be dragged up, chewed over, argued over or anything else, they can tell you you get the moon free, but what you actually get is what you sign up to.