HP ripped off?

mattmk6

I traded my car in to stoneacre Ford and bought a 9 month old car from them.

They gave my bare minimum for my car and i had been offered £500 more from a non ford garage to trade in.

When we were talking about what was affordable he went away and came back with a figure of £250 a month for the new car. I told him this wasnt what i was prepared to pay.

He went away and came back with a new figure of £220!!! This he did without running a credit check or without any of my details. How was this possible?

To top things off we passed the garage yesterday and my partner noticed that the old car had a large dent in the boot which wasnt there when we traded.

Its made me thing there is something a bit underhand here.

So have they offered me below what my car is worth then damaged the car to claim something through ford or claim they are repairing the car to justify the price the offered?

bigadaj

No, but this has all the beginnings of a mis sold loan, in your mind if not in fact.

When the guy came back with the reduced payments didn't you ask why and what apr is being charged, the reduction has probably been generated from just extending the loan term.

If you had a better offer elsewhere why not haggle, also did you ask for a discount for no trade in to allow you to sell privately?

ILW

The garage made an offer which was accepted. Where is the mis selling?

bigadaj

ILW wrote: »

The garage made an offer which was accepted. Where is the mis selling?

How long have you been on this forum?

opinions4u

mattmk6 wrote: »

I traded my car in to stoneacre Ford and bought a 9 month old car from them.

They gave my bare minimum for my car and i had been offered £500 more from a non ford garage to trade in.

But you agreed the price. So that's a done deal that's not regulated as part of the loan agreement.

He went away and came back with a new figure of £220!!! This he did without running a credit check or without any of my details. How was this possible?

Most likely he increased the term by 6 months. Or perhaps he dropped the PPI.

Why didn't you ask him?

What does your loan agreement say about sum borrowed, term, monthly payment and APR?

To top things off we passed the garage yesterday and my partner noticed that the old car had a large dent in the boot which wasnt there when we traded.

Not your problem. You sold them your car.

Its made me thing there is something a bit underhand here.

So have they offered me below what my car is worth then damaged the car to claim something through ford or claim they are repairing the car to justify the price the offered?

Doesn't matter. You've already done the deal. Haven't you?

RobertoMoir

mattmk6 wrote: »

I traded my car in to stoneacre Ford and bought a 9 month old car from them.

They gave my bare minimum for my car and i had been offered £500 more from a non ford garage to trade in.

When we were talking about what was affordable he went away and came back with a figure of £250 a month for the new car. I told him this wasnt what i was prepared to pay.

He went away and came back with a new figure of £220!!! This he did without running a credit check or without any of my details. How was this possible?

So had they processed your details for the original £250pm offer?

To top things off we passed the garage yesterday and my partner noticed that the old car had a large dent in the boot which wasnt there when we traded.

Its made me thing there is something a bit underhand here.

So have they offered me below what my car is worth then damaged the car to claim something through ford or claim they are repairing the car to justify the price the offered?

What's happened to your old car since you sold it isn't really your problem and I don't see why you think its relevant to your deal for your new car. They offered a trade in price for your old car. You accepted it. The old car is no longer your problem.

There's an alternative suggestion for the big dent by the way - maybe someone reversed into it while moving cars around a busy forecourt. I realise that's not nearly as much fun as a big conspiracy theory as to how the dent is somehow connected to your finance on your new car, and how it will all turn out to involve bob diamond and libor rates somehow, but its probably more likely.

mattmk6

yes some of the replies are very amusing but it just seems strange thats all.

I never gave him any details for him to come back with the £250.00 price or when he then changed it to £220.00

The term never altered and when i questioned the APR he said they dont set it, the finance company do.

The old car doesnt matter obviously but its just adding to whats going round in my head.

fearlessdukuman

When I bought my BMW from a used car dealer, he gave me a quote on paper with the APR, monthly payment and length of the agreement on paper before he had sent it anywhere near the finance company.

He was able to reduce the APR on the loan, by me simply getting out of the chair and heading for the door.

Dealerships have alot more flexibility over the finance options than they would have you believe.

DCFC79

mattmk6 wrote: »

yes some of the replies are very amusing but it just seems strange thats all.

I never gave him any details for him to come back with the £250.00 price or when he then changed it to £220.00

The term never altered and when i questioned the APR he said they dont set it, the finance company do.

The old car doesnt matter obviously but its just adding to whats going round in my head.

Whats happened with the old car shouldn't be bothering you at all, if the old car has a dent in it then so what but its nothing to do with you.

bigadaj

DCFC79 wrote: »

Whats happened shouldn't be bothering you at all, if the old car has a dent in it then so what but its nothing to do with you.

What should be bothering the OP is apparently not knowing what rate of interest he's paying.

DCFC79

bigadaj wrote: »

What should be bothering the OP is apparently not knowing what rate of interest he's paying.

Now that does bother me, the interest should be bothering him more than the old car