Suzuki finance - black horse

in Loans
5 replies 3K views
Phoned yesterday to find out how much I had outstanding on a loan (car loan)

they said 1600

I said when does the loan end

they said

Nov 2012

But I made my first payment in Nov 2007 so thats 61 months not 60.

So how much are my repayments - 200 a month they say

So surely I should owe 1400 for the next 7 months

1st april - 1st october..

We will look into this and phone you back tommorow!!

:mad::mad:


some folk would just have paid it ((

Replies

  • silo24silo24 Forumite
    84 Posts
    Assuming March's payment is gone, you still have the following:

    April: £200
    May: £200
    June: £200
    July: £200
    August: £200
    September: £200
    October: £200
    November: £200

    The only question is why 61 months rather than 60. Many deals are expressed as 'First payment of £xxx followed by 60 payments of £yyy. I suspect this is what your agreement will say.
  • silo24 wrote: »
    Assuming March's payment is gone, you still have the following:

    April: £200
    May: £200
    June: £200
    July: £200
    August: £200
    September: £200
    October: £200
    November: £200

    The only question is why 61 months rather than 60. Many deals are expressed as 'First payment of £xxx followed by 60 payments of £yyy. I suspect this is what your agreement will say.


    Thats what I thought, but no, an intial payment of 300

    then 59 payments

    they were just chancers
  • The final payment is often higher than the rest due to the random fleecing equation e.g. a stupid amount to transfer ownership to you at the end of the agreement is one example
  • chanz4chanz4 Forumite
    10.5K Posts
    Part of the Furniture 10,000 Posts Name Dropper Xmas Saver!
    Forumite
    Also the first payment is 30 days after the agreement starts
    Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.
  • chanz4 wrote: »
    Also the first payment is 30 days after the agreement starts

    Can be up to 45 days.
This discussion has been closed.
Latest MSE News and Guides