Car dealership nightmare

AndyMc.....

Lottie_1987 wrote: »

Oh well silly me for thinking this situation is a nightmare! Oh and thank you for your concern amount our nightmare of a drive and no it hasn't been sorted as it is currently with solicitors.

Wow, you found one who works weekends.

photome

AndyMc..... wrote: »

Wow, you found one who works weekends.

Think you need to read both threads

wesleyad

Regarding the tax, is it not just that they taxed online for 6 months in your name (which would be june)?

It's what they did for me when I bought my last car.

I've never seen any sort of loan or finance advertised at the total rate, for the reason that rate changes on length (in your example 3% after 1 year, 6.5% after two and 9.9% after 3), it's always done on APR.

DoaM

Isn't an APR calculated based on the totality of the loan versus the loan period? From what I've read, OP was told 3% and assumed this was the APR (as that's how loans are supposed to be presented to a consumer) - it seems the dealer/finance have calculated this as a flat rate 3% per year?


Or am I misreading or misunderstanding something?