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Can i claim back
grand-poobar
Posts: 11 Forumite
in Loans
Car loan
I took out a car loan with stoneacres (lincoln) who fiananced the loan £6500 with barclays motor loan, when i enquired about paying the loan off early, the letter says it will cost me £670 to get out of this £150 admin, £150 closure, and £370 interest is this right after only a 6 week loan.and paying it off 34 1/2 months early..????
can i claim unfair bank charges..!!
I took out a car loan with stoneacres (lincoln) who fiananced the loan £6500 with barclays motor loan, when i enquired about paying the loan off early, the letter says it will cost me £670 to get out of this £150 admin, £150 closure, and £370 interest is this right after only a 6 week loan.and paying it off 34 1/2 months early..????
can i claim unfair bank charges..!!
0
Comments
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Why is it unfair?
The terms and conditions would be my first port of call where I am sure that the charges will be explained to you.0 -
Unfair bank charges are charges made for breach of contract which are only allowed to reflect the actual cost to the bank as a result of the breach.
As already stated, the costs quoted to exit the loan will be part of the T&Cs and not penalty charges so you would not be able to claim them back.0 -
Thanks for the replies, Ive tried to read all i can, but find it very confusing, but now i have the info from the horses mouths so to speak.0
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