Car Finance - Arnold Clark

eschaton

sheslookinhot wrote: »

£6300 negative equity in 6 weeks. That's unbelievable.

I would give them a chance to fix it, but demand a courtesy car.

It sounds like OP has had their pants pulled down.

Dropping £6300 in value in 6 weeks for a car in this price bracket is unheard of surely, even more so with a used car.

angrycrow

Unless it's a bwm the symptoms described would indicate the most likely fault is a faulty crank position sensor. Likely cost is less than £20 for the part and a few minutes labour. At 6 weeks I would expect the dealer to do it for free.

Given the car is at least 3 years old given it needs mot it is not unreasonable for the sensor to fail suddenly.

Did you roll negative equity from your last car into the deal because you would not loose that much depreciation in 6 weeks on a new car never mind one at least 3 years old.

RachaelButters

It’s a 14 plate thats on 38000 miles

RachaelButters

Yeah I carried finance over from my old 04 plate Mini Cooper as it was on its last legs but that was only £1000z the manager of Arnold Clark said that the car value is sitting at £6500 and the total finance I have to pay is £12300, I’m paying £6300 interest and for what the cars even worth. I’m totally stuck.

loskie

mug, they saw you coming

LandyAndy

RachaelButters wrote: »

Yeah I carried finance over from my old 04 plate Mini Cooper as it was on its last legs but that was only £1000z the manager of Arnold Clark said that the car value is sitting at £6500 and the total finance I have to pay is £12300, I’m paying £6300 interest and for what the cars even worth. I’m totally stuck.

Yes, you very probably are.

PCP is often a mug's game. On a used car with a previous deal rolled up ......... Well you don't need me to tell you.

But. The best way out from where you are is very likely to get Shark to fix the fault and then drive on at this car for the period of the finance while saving for the next one.

sheslookinhot

In general, how can a 2004 Mini be on its "last legs" ?

davidwood681

sheslookinhot wrote: »

In general, how can a 2004 Mini be on its "last legs" ?

It's 14 years old and depending on it's previous owners, it might be the end of the road.