Credit 4 Cars

BlueBoyFoy

I have a finance agreement with a company that started in June 15. The company (Credit 4 Cars) went into administration in Dec but have continued to take their repayments.

The Directors of C4C have created a new company and are attempting to transfer all customers to this new company. ALL existing customers have received a letter this week claiming that they are in arrears by 1 month and if this is not rectified within 17 days our vehicles will be repossessed.

I am concerned about the following:

Where have my payments been going since administration?
Are the company allowed to transfer agreements without me agreeing to it?
Can the company reposes my vehicle if I am not in arrears?
Can I terminate my agreement and return the car?

maninthestreet

So the letter was from the old C4C company??? When was the last payment taken from your account??

forgotmyname

Your payments maybe going to the administrator who will be paying the companies debts with their assets.

Your car is their asset so keep up the payments.

Pablad123

The company taking payments is avelo with links to shoosmiths solicitors.
They never return calls or emails and I have had the same letters and warning
Tried speaking to them 3 times a day for the last 5 days
Sent emails with no reply
The worrying thing is I have one payment left and then my finance is complete
But I checked out avelo and the director is the same director as credit for cars !!!!!!!!
Aswell as 23 other companies!!!!!!!!
Dodgy comes to mind

bigjl

Two brand new posters that joined up at the same time with the same issue?

And no finance company can take a car back with one payment remaining without a court order, and I very much doubt a judge will allow it.

motorguy

bigjl wrote: »

Two brand new posters that joined up at the same time with the same issue?

And no finance company can take a car back with one payment remaining without a court order, and I very much doubt a judge will allow it.

+1

No mission they can repossess.

Pablad123

I know the legal stance on recovering the vehicle it's just very poor the way it has been dealt with

bigjl

Pablad123 wrote: »

I know the legal stance on recovering the vehicle it's just very poor the way it has been dealt with

So why you worried?

These kind of companies are the type that offer overpriced cars to people that can't get credit elsewhere.

Do some digging and you can see online conversations on how to find the trackers and disable them, the only reason being to not pay for the car.

If you can't get mainstream credit then you should buy from CarGiant, they offer finance for those with poor credit history.

They don't fit trackers or stuff like that.

And the cars are exactly the same price as for people paying cash or getting credit via a normal credit source.

Have a look at similar companies like Fowlers, they all copy the old CarCraft selling tactic, hide the true cost of the vehicle by only giving a weekly payment, often not even making it clear for how many weeks, months or years the credit is over.