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Mis Sold a Loan
HELP
I took out a loan with the the car finance company in 2014. It was never explained to me when taking the loan out what the APR was nor what the total amount payable was, Ive never received any annual statements, I've missed payments in the past but a recent phone call has highlighted what the total amount payable on the loan was. Where do I stand with miss selling?
I took out a loan with the the car finance company in 2014. It was never explained to me when taking the loan out what the APR was nor what the total amount payable was, Ive never received any annual statements, I've missed payments in the past but a recent phone call has highlighted what the total amount payable on the loan was. Where do I stand with miss selling?
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Comments
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Did you get any paperwork at the beginning?0
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The Initial paper work I signed when I purchased the loan. The monthly payments were explained to me but they never told me what the total amount payable was, if they had i would NEVER have signed it ! I have no paperwork/annual statements from them since the day I took the loan out even though I have made payments.0
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Were you aware how long the agreement was for? And what company was it?The Initial paper work I signed when I purchased the loan. The monthly payments were explained to me but they never told me what the total amount payable was, if they had i would NEVER have signed it ! I have no paperwork/annual statements from them since the day I took the loan out even though I have made payments."Facism arrives as your friend. It will restore your honour, make you feel proud, protect your house, give you a job, clean up the neighbourhood, remind you of how great you once were, clear out the venal and the corrupt, remove anything you feel is unlike you... [it] doesn't walk in saying, "our programme means militias, mass imprisonments, transportations, war and persecution."0 -
It was for 36 months and it was through the car finance company.0
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There's no APR on the initial documents?0
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Couldn't you have just multiplied the monthly payment by 36?It was for 36 months and it was through the car finance company."Facism arrives as your friend. It will restore your honour, make you feel proud, protect your house, give you a job, clean up the neighbourhood, remind you of how great you once were, clear out the venal and the corrupt, remove anything you feel is unlike you... [it] doesn't walk in saying, "our programme means militias, mass imprisonments, transportations, war and persecution."0 -
It is not pointed out to you, it is written down on all that long blurb above where you sign.I do Contracts, all day every day.0
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If the total payable is so important to you, why didn't you ask what it was before you signed?What will your verse be?
R.I.P Robin Williams.0 -
What you are suffering from is known as "buyer's regret". It happens when it begins to dawn what you have signed up for.
We see many instances of people on this forum claiming that they have been mis-sold a loan, but we have yet to see anyone prove it.
The facts are that to get the loan in the first place, you had to sign an agreement. That agreement had all the details of the loan - cash price, interest APR, monthly payments, number of payments, total amount payable, etc, etc. Your signature on that agreement shows you knew what you were getting into.
You will have been given a copy of that agreement before you took delivery of the vehicle, and another will have been sent to you by post.
To say you didn't know all these details, and wouldn't have signed if you had, is as I said, "buyer's regret"."There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock0 -
poppasmurf_bewdley wrote: »Your signature on that agreement shows you knew what you were getting into.
It obviously doesn't.Don’t be a can’t, be a can.0
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