Mis sold car finance?

chipsdog

Not sure if this is the correct place to post this, so feel free to move

My friend bought a brand new car, she told the sales man her journey to work was from A to B (35 miles each way)

She has now looked at her paperwork (18 months later!!!)and he has put down 5,000 per year, this is clearly not a enough.

Is this a case of mis-sold? or will she have to put it done to experience?

thank you everyone

Southend1

Can she prove it? Presumably she signed the paperwork saying 5,000 miles?

safestored4

By asking whether the loan was missold can we take it that you and your friend would either like some sort of compensation for the alleged misselling or for the loan to be declared unenforcible and written off.

Neither are likely to occur. The salesman, if he can be traced, will simply say that your friend claimed that her annual mileage was 5000 miles per year. She presumably signed the documentation declaring this, on the face of it a fraudulent statement on her part.

roonaldo

What was said in a conversation is hearsay. She should have known her mileage is going to be excess of 5000. She has signed saying her mileage is 5k and will have to take responsibility for agreeing to this and pay the excess mileage. To only look at what she signed 18 months later is just ludicrous.

macman

Is this a PCP, lease agreement, or what?

Nearlyold

At the end of the day high miles in a car is going to cost in depreciation, if the annual mileage in the agreement was set higher then the monthly payment would be correspondingly higher. If your friend intends to keep the car at the end of the hire period by paying the balance then the annual mileage won't matter anyway other than the car will probably be worth less than the amount owing.