Car Finance how to get out of

malamadzia

Any advise please will be truly greatful

MEM62

malamadzia wrote: »

Can they later say that because I've cancelled it I'm in breach of this agreement and blame me and charge me extra cost? I don't care if that will effect my credit score rating as if I won't pay for this car I won't need any credit.

No short-sightedness there is there??

malamadzia

As I said earlier I understand I should not be doing this. What else I can do than? Feels like the Finance company got more rights than us, even we provided strong evidences that the car been faulty when we bought it and they are contravening Section 14 of the Sale of Goods Act1979.

forgotmyname

Its not just credit for the car though its credit for anything.

Pay anything by installments then you maybe credit checked and a non payment marker could see a refusal.

Lots of companies do credit checks these days even utility companies.

malamadzia

Thank you very much for your reply. Would I be able to get a full refund for the months that I'm paying but not using the car due to finance company delaying the case? Should I get a solicitor to look at this case? what if finance company reject the recommendation from FOS? Would it go to court? What rights I have now?

Pixie5740

You're pretty much up the creek without a paddle. You've had the car for over 4 years now and the car itself is 7 years old so yes there will be wear & tear and maintenance to be done.

After six months of purchasing the car, it will be up to you to prove that there was a problem with the vehicle when it was sold to you. You'll have to provide evidence of this so it may help to get an independent report which could establish the condition of the vehicle when it was sold. Do you have any evidence?

xterm

Thank you for all of the replies

after speaking to "The Funding corporation" they've stated as it was not a hire agreement they will not accept the return of the car to be let out of the agreement. If I want to I can send them a "voluntary surrender letter" then car to them they will take it and get what they can for it and remove the amount from the total owed minus and costs of recovery which will probably be nothing.

So after 4 years I'll end up paying £3000 for something I don't have

Lmh71365

1. What is the car?
2. How much do you pay per month?
3. How long do you have outstanding on the loan (in months)?
4. What is your credit rating like at the moment?
5. How long ago did the FOS recommend the finance company take back the car?

Lmh71365

6. What would you like the next step to be regarding your next vehicle? Eg. Do you need another car? Are you planning on getting a banger?

MEM62

xterm wrote: »

So after 4 years I'll end up paying £3000 for something I don't have

Overall you would have paid considerably more than that. This issue is the crazy interest rate on the loan. Its not my intention to rub it in but to encourage you the look at lot closer at the finance deals you are signing up to.