missold car / finance

rich13348

Gemma how long has your finance got to run. Speak to the finance company in this case creation and find out the settlement amount and then shop around for a loan over five years from the bank then use that money to pay off the finance. This should help you reduce your monthly out goings but will extend the loan for 5 more years.

It has to be said that I have never come across a deal like this before so its unlikely to be true. I would have expected they value of the car to pay off the majority of finance left each time you changed. Any idea what trade in values you were getting on the cars going back.?

ChumLee

gemmab1985 wrote: »

I'm not getting it anyway

Id suggest you're not getting what you want to hear.

motorguy

What i dont get is how the O/P managed to finance £20,000 on a used Peugeot 308 that could only have cost £10K in the first place at most.

Seems extremely odd.

motorguy

gemmab1985 wrote: »

Do u know what I'll deal with this myself I won't ask for help again I'll muddle through but I would NEVER recommend this page to anyone I'm discusted at the treatment I have recieved. I treat people how I'd expect to be treated perhaps some of you should bear that in mind.

I would also add that burying your head in the sand and hoping to "muddle through" is what got you in this position in the first place.

Feel free not to bother responding and sulk however dont forget your the one with the £20,000 problem, so it makes no odds to us if you dont come back.

forgotmyname

Cut back on your spending and keep paying for the car, Look after the car and dont use it needlessly. It will have to last you a good while longer yet.

gemmab1985

Ok I posted what I thought was enough detail you should have asked or told me what other info was needed yes I've been gullible I've never posted on a forum like this before... I want help I don't just want to hear what I thinks best. This car is all in my partners name I'm trying to take control of the situation. I'll check everything that's been suggested and hope it gets me somewhere if not we will speak to the finance can't and see what we can arrange.

ChumLee

gemmab1985 wrote: »

Ok I posted what I thought was enough detail you should have asked or told me what other info was needed yes I've been gullible I've never posted on a forum like this before... I want help I don't just want to hear what I thinks best. This car is all in my partners name I'm trying to take control of the situation. I'll check everything that's been suggested and hope it gets me somewhere if not we will speak to the finance can't and see what we can arrange.

Have you looked at any of the paperwork yet?

gemmab1985

Not just yet no I'm out with my son but I will tonight and read it all properly.

ChumLee

gemmab1985 wrote: »

Not just yet no I'm out with my son but I will tonight and read it all properly.

Well that's probably why you're not getting help..

Herzlos

motorguy wrote: »

What i dont get is how the O/P managed to finance £20,000 on a used Peugeot 308 that could only have cost £10K in the first place at most.

Seems extremely odd.

If she lost £3+k on each of the trade ins, she could easily have started term 4 for £10k in negative equity.

Since the first one was a new 308 and sold back after a year, it could have been a whole lot worse.


OP - You're going to be stuck with the payments, just please don't trade it up again, and read things more carefully in future.