We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Mileage on car financing/PCP
Where do I stand based on the fact I was mislead?
Comments
-
Holliebeastall wrote: »I'm wondering if anyone has any advice/information. I currently have 3 year PCP/Finance with Peugeot. I have been for a review today where they have advised me that when I took the deal out, I was given the wrong advice in regards to my mileage. This now means I will have a signifcant amount to pay no matter which option I choose at the end of my contact.
Where do I stand based on the fact I was mislead?
What's written on the original contract about mileage?0 -
Holliebeastall wrote: »I'm wondering if anyone has any advice/information. I currently have 3 year PCP/Finance with Peugeot. I have been for a review today where they have advised me that when I took the deal out, I was given the wrong advice in regards to my mileage. This now means I will have a signifcant amount to pay no matter which option I choose at the end of my contact.
Where do I stand based on the fact I was mislead?
How were you mislead?
What mileage have you on the car?
What mileage did you sign up to on the contract?
Whats the excess mileage rate?0 -
I don't see how you're "given the wrong advice" with regards your mileage. Only you know what your mileage is likely to be and you should have made sure your finance agreement reflected this.
As above, what was the agreed mileage, what is your actual mileage and what is the excess mileage rate?
Also, and this is quite important, what are you planning on doing with the car and when does the PCP term end?0 -
Do you mean you have done over the agreed mileage but the per mile rate is now higher than advised and on your contract? With PCP you choose the mileage rate up front so unless you choose one rate and they put less on then it's your rate they go off
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
0 -
Who did the review? Who do they in turn claim gave you bad advice? Can you prove that you were originally given this advice?
Your options will depend upon what you have in writing.0 -
Do you mean you have done over the agreed mileage but the per mile rate is now higher than advised and on your contract? With PCP you choose the mileage rate up front so unless you choose one rate and they put less on then it's your rate they go off
Even if they did change the rate on the paperwork from what was pre-agreed, you have to read and sign the paperwork, so it would be very hard to prove it was doctored intentionally.0 -
Holliebeastall wrote: »I'm wondering if anyone has any advice/information. I currently have 3 year PCP/Finance with Peugeot. I have been for a review today where they have advised me that when I took the deal out, I was given the wrong advice in regards to my mileage. This now means I will have a signifcant amount to pay no matter which option I choose at the end of my contact.
Where do I stand based on the fact I was mislead?
Even if you pay the balloon? :eek:
This matter seems dark indeed.You can pick your friends and you can pick your nose but you can't pick your friend's nose.0 -
Even if they did change the rate on the paperwork from what was pre-agreed, you have to read and sign the paperwork, so it would be very hard to prove it was doctored intentionally.
I meant if they said the mileage charge was say 2p per mile or whatever and that was what the paperwork says but they said later that was a mistake and it should be 20p a mile you'd have a good case to argue.
The problem is that the OP hasn't said what the "wrong advice" actually is.Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
0 -
Rain_Shadow wrote: »Even if you pay the balloon? :eek:
This matter seems dark indeed.
I think they mean that they have to pay a significant charge no matter what
Balloon = significant charge
Use the guaranteed value for a new car = now have to pay a significant charge due to issue with mileage part of the PCPSam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.6K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.7K Work, Benefits & Business
- 603.1K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards