Mis sold vehicle finance

BonkaBear

Hi all,
Right, I'm after a bit of advice please, basically I've recently purchased a motorcycle on finance, because of the specific bike model and year I was after I was limited to the number of machines available. So I eventually find the bike I'm after and lo and behold, it's not local, 200 miles away not local, beggars can't be choosers so I chase up the dealer. After speaking to them for a few minutes the bike sounds perfect and on I go to enquire about finance...
yeah we do finance, would you like to get a quotation, yes please I say, and along comes the blurb; "we deal with blackhorse and your information will only go to them and not shared with anyone else", I'm ok with this so I proceed, I'm happy with the deposit of £595 and 36 monthly payments of £106 so again I chose to carry on with the application. I was told this had all gone through, brilliant I thought. I asked what I would be required to bring with me in regards to proof of insurance, I was told not to worry, "because your credit is so good, they are financing this as a loan and not HP so the bike is not used as security". Well obviously I was chuffed with this and went ahead over the phone, only needing to pay £95 there and then as a holding deposit.
One week later I make the journey up to collect the bike, it was a mammoth trip up taking over 8 hours, as you can imagine I was excited, tired and apprehensive about the 220 mile return ride home (avoiding the M1) but at the same time eager to get on the road as it had already been a long day (coming straight from working a night shift). There was a delay in the bike being ready and the paperwork being signed but finally the moment had come to tick off the finance forms etc, "your deposit" blah blah, "your monthly payments of..." blah blah, these all tallied up to what I had agreed to over the phone, sign, keys, gone!
So there I was, over a week later and I get a phone call from a finance company I'd never heard of stating I had recently taken HP out with themselves, obviously I correct her stating that not to be true, she runs off the correct details of my bike and the monthly payment details I had agreed to. At this point I am very confused and tell her that I was clearly sold the product being financed as a personal loan through blackhorse, well she kindly blew that illusion away.
So, the dealer firstly lied about where and with whom my information would be shared, he also lied by telling me it was a loan and not HP. Now I'm not saying that if he was honest up front and I had known the details from the off, that I wouldn't of gone through with it because I probably would have, who knows, but I'm left here with a bad taste in my mouth and I'm getting more annoyed with each second that passes. I like the bike but I'm stubborn enough to now not want it because of this, I don't think any dealer should be able to blatantly mis sell any finance products in order to line their own pockets.
what do I do? The call was recorded by my phone so I have proof of everything he stated, I just don't know whether it's admissible or not.
Sorry this was long winded but I thought all the details put together might add weight to my annoyance.

Cheers Kai

[Deleted User]

I found that pretty hard to follow, so not sure if you have put the main bit of info in there.

But the main question is what was on the paperwork you signed? That would have told you what sort of finance you were taking out.

poppasmurf_bewdley

So hopefully, you have what the dealer told you in writing? If not, it's their word against yours.

And you did check the paperwork you signed before you took delivery of the bike, right?

As to your phone recording. Well, you could take it to the dealer and see what they say.

Brock_and_Roll

Sounds like the dealer was a bit cheeky and the OP should have it out with them however:

1) HP documentation is pretty easily to identify versus that of a personal loan.

2) Unless the rate was naff, you have not really lost out much unless you think that there is a significant risk of you getting into financial difficulties during the term of the agreement.

sinizterguy

The dealer gave you the deal as he detailed to you - which you accepted.

The finance company was different to what you were expecting. And turns out it is HP rather than a loan.

You should have read the paperwork properly before signing it. As it stands, you agreed to what you were offered.

Marktheshark

If the terms were presented in writing and you did not read it.
Then I am afraid you are bound by what you signed.
What "someone said" is irrelevant, the contract you signed is.

andyfromotley

Hi Bonka,

yup i can imagine that you feel a bit had over but if the terms are the same i'm not sure i see the difference?

Sadly as pointed out you have to shoulder a bit of the blame yourself, 'deposit...blah blah.....keys blah blah.....' the blah blah bits are quite important.

Just take it as a lesson learned. Some people have been lumbered with really terrible terms by not paying attention to the detail.

Nearlyold

As others have said if the interest rate and total payable are the same what do you believe are the disadvantages of the HP agreement to you?

BonkaBear

I appreciate that I should of read it properly, I saw the figures were correct and just wanted to be off, I guess I'm guilty of being niave, thinking people other than myself to be honest.
As for why it might be an issue being on HP, changes in circumstances, I may want to sell it or change before the term ends, now I'd have to settle the finance first, not the end of the world I know, I'm just miffed at being lied to is all, looks like I'll have to swallow it.
Thank you for all the quick responses, sorry you have to waste 10 minutes reading it all : )

Cheers Kai

chesky

Chalk it up to experience and NEVER get caught again.

If it doesn't kill you, it makes you stronger.

Nearlyold

Strangely enough when Dealers get complaints over the type of finance they arranged its nearly always that the customer wanted HP but was provided with a Personal Loan - usually because the customer wants to hand the vehicle back