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Wrong details on car loan agreement

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  • Clive_Woody
    Clive_Woody Posts: 5,939 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    If I understand correctly you have a loan in your name to buy a car, this loan is not secured against the car. I would therefore think it's pretty irrelevant what car details are on the loan agreement, I assume they have your name and address correct on the loan agreement? The balloon payment at the end does seem unusual for a regular loan as normally these are repaid in regular payments over the course of the loan.

    My impression is that you have a car and a loan and the two are not connected. The car should still be under warranty so the dealer should be approached to resolve any problems with it.

    Lesson learnt - next time check what kind of finance you are using before signing for it.
    "We act as though comfort and luxury are the chief requirements of life, when all that we need to make us happy is something to be enthusiastic about” – Albert Einstein
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