Ready, steady… save!
You don’t need a chart to join in. Here are 2 ways to record your savings:
1. Cross it off
Pop a chart into your first post. Saved an amount? Cross it out! Read more »
£0.01 £0.02 £0.03
2. Write it down
Skip the chart and add updates to your first post. Read more »
“Another +£3 saved today. Go me!”
Use +£ before each new saving so it counts towards your total.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Car Craft - Car Loan
Hi,
I bought a car with carcraft and was given two finance agreements
One covered nearly all of the cars purchase price, and on a HPI check it shows up as finance outstanding with them.
Company B lent me a massive £500 towards the car. That was then boosted to £3,000 when I signed up for some 5 year warranty thing.
My assumption was both were tied to the car (due to the £500), but now I'm wondering do Company B actually have any right to the car? Or is it essentially a personal loan like from a bank?
On my Call Credit credit report company B shows up as £3,800 owing, account type: Unsecured loan.
I bought a car with carcraft and was given two finance agreements
One covered nearly all of the cars purchase price, and on a HPI check it shows up as finance outstanding with them.
Company B lent me a massive £500 towards the car. That was then boosted to £3,000 when I signed up for some 5 year warranty thing.
My assumption was both were tied to the car (due to the £500), but now I'm wondering do Company B actually have any right to the car? Or is it essentially a personal loan like from a bank?
On my Call Credit credit report company B shows up as £3,800 owing, account type: Unsecured loan.
0
Comments
-
What do the loan agreements say?0
-
The 2nd agreement maybe the warranty. Good news (if you have a hamster) Shred that and use it for bedding.
Probably its only use.Censorship Reigns Supreme in Troll City...0 -
Thanks, not sure where they are. Carcraft have never been the easiest to deal with, so don't expect a replacement!
Was just wondering whether it was technically possible, since £500 of the car money is on the 2nd agreement. Will have to have a look for the paperwork0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.9K Banking & Borrowing
- 255K Reduce Debt & Boost Income
- 456.2K Spending & Discounts
- 248.4K Work, Benefits & Business
- 606.1K Mortgages, Homes & Bills
- 179.1K Life & Family
- 263.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.7K Read-Only Boards