Finance agreement mess!

scattermoles

opinions4u wrote: »

All I've done is tell you the truth. You have been silly. You've signed up for a credit agreement without even making a note of the payments.

While the actions of the garage are less than impressive sometimes you, as an individual, have to look in the mirror and accept the truth - you could have avoided this situation.

By all means blame me for it. Obviously it's my fault.

Im not blaming you of course not. I came on here looking for advice on if i could help my situation not to be told that ive been silly.

I had a letter from them stating the payments and when they would be taken, this payment wasnt stated. Only stated in the small print on the agreement i never had a copy from. I received one this morning in the post that i had requested the other day.

cord123

hey

I am afraid that you will prob have to take this on the chin! We bought a car from ford (a focus cc) and unknowingly signed an agreement for the yearly mileage to be 6k, the salesman knew that this would be our main car so it was very obv that it would be more than this, therefore when we VT'd the car 3 years later we ended up owing over £700 for excess mileage.... (the salesman was myhusbands friends and said that he did us a great deal! pffft!)

They dont point out things that you wont want to hear and they know that you are excited/overwhelmed etc and perhaps dont go through the contract as thoroughly as they should.

I am afraid you just need to put it down to experience :-) xxx

scattermoles

cord123 wrote: »

hey

I am afraid that you will prob have to take this on the chin! We bought a car from ford (a focus cc) and unknowingly signed an agreement for the yearly mileage to be 6k, the salesman knew that this would be our main car so it was very obv that it would be more than this, therefore when we VT'd the car 3 years later we ended up owing over £700 for excess mileage.... (the salesman was myhusbands friends and said that he did us a great deal! pffft!)

They dont point out things that you wont want to hear and they know that you are excited/overwhelmed etc and perhaps dont go through the contract as thoroughly as they should.

I am afraid you just need to put it down to experience :-) xxx

Thanks, i kinda thought this would be the case but i wondered if there was any loophole. They're clever salemen and they get away with it cos its always our fault.

Saints2011

Do you want the car? If so tough im afraid.

iolanthe07

You seem to be over reacting. It's only a one off extra of £140 !!!!!! - nothing compared with the costs and depreciation of running a new car, even a Toyota. Put it down to experience and read agreements carefully before you sign in future.

TadleyBaggie

You might find there is another "charge" when the finance is complete. That happened to me, although I was made aware of the starting charge, the closing charge came as a big surprise. It was in the paperwork, I just didn't spot it when signing.

Kazipoo

I think its fairly common practice for finance agreements to have an admin fee on the first payment and an option fee on the final payment these days. I think he was out of order for not pointing this out to you though.

LovelyLeeds

TadleyBaggie wrote: »

You might find there is another "charge" when the finance is complete. That happened to me, although I was made aware of the starting charge, the closing charge came as a big surprise. It was in the paperwork, I just didn't spot it when signing.

Yes, all part of the slick talking by the salesman. I'm due to change my car soon, and I'll be reading the T&Cs as if it's the latest best seller!

nelly12

scattermoles wrote: »

Thanks, i kinda thought this would be the case but i wondered if there was any loophole. They're clever salemen and they get away with it cos its always our fault.

Seriously though, is this the first car you've ever had on finance? How old are you?

With all the publicity in the last few years surely joe average knows that he must check whatever documents are put in front of them before they sign anything? This is the same for comms accounts (Mobiles), Utilities (Gas, Electric, landline) and a whole host of other products\services. Not personally having a go at you but there are more and more people posting on here who have made expensive decisions in the heat of the moment and then regret it later. They all seem to then start posting looking for some magic get out clause by claiming that the dealers have been underhand. The motor industry is in a hell of a lot better state than it has ever been, I'm not saying it's perfect, but what industry is? Everyday there are media clips warning people on what to avoid doing but yet people still fail to heed these warnings. Car salesman are paid a pretty low basic salary and make up their pay by commission from sales. Most are scared to put a foot wrong in case they lose their jobs in this climate, there are however an extreme minority who are still unscrupulous but remember it's the old adage that still applies 'Buyer beware'. If you think you're being screwed over walk away. Rant over!:beer:

paddyrg

Unlucky, but I think you will have to just bear it unfortunately. Have you got yourself a copy of the agreement now? Get one pronto if you haven't just in case there are any other lump sums to expect!!