Car issues with finance

colino

This is re-emerging in the lunatic word of sub-prime, and people, already with their credit rating flagged are, as happened round here recently, handing back cars they couldn't afford to keep on the road and hitching their wagons to another sub-prime lender to get another one.
Little learned over the last boom and bust cycle.

forgotmyname

Sisters got a similar issue, cars parked up needing a lot of work which she cannot afford to repair, yet still owes more than its worth on the finance.

gazfocus

It doesn't sound like the OP stopped paying payments so surely Voluntary Termination should stand.

motorguy

The o/p is giving us erratic "snippets" of information.

some suggest the payments were up to date, some suggest they werent.

I doubt we'll get enough information to make a reasoned decision, particularly as the O/P is giving us information that backs up his view of "the facts". For example, i dont really think the engine company were "blackmailing" him.

Markjen79

The engine company where rouge traders .
bbc.co.uk/programmes/articles/5mzXMVhR19L47jS2SSrntBL/ideal-engines-and-gearboxes

And yes it's a very complex case that drove me to a very very dark place where I nearly lost very thing including my family.

REDDDRAGGON

I'm still confused. What's the relevance of the engine to the finance?

harveybobbles

£13500 over 36 months is £375 per month.

OP says they have paid back £7000.

7000/375 = 18 monthly repayments... Which is bang on 50%.

colino

How much did you pay these engine fitters? £1000 or £1495 or £2495? Do you work for Watchdog? This garbage is as accurate to consumer rights as Dragons Den is to business starters.
Have a go at detailing how much you paid for the Audi, how much you paid towards the finance and how you left it with the finance house.
This reads like an online trailer for watchdog.

motorguy

Either the O/P stopped making payments and the finance company took the Audi back, or the car was handed back with an engine problem.

IF either of those is the case, then the Consumer Credit Act sections of the finance agreement will be null and void, and thus the finance company are attempting to claw back their loses.

The O/P seems to be merging the engine fitter problems and the finance company problem into one issue and expecting the finance company to sort out the problem with the engine company. This is not going to happen.

I think the O/P needs to take formal legal advice but i'd say they're liable for the sum the finance company are pursing them for.

harveybobbles

Doubt they'll come back now.