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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
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What do the loan agreements say?0
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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
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