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Car Finance Charges is there a cap PLEASE HELP

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Car Finance Charges is there a cap PLEASE HELP

edited 30 November -1 at 1:00AM in Motoring
4 replies 309 views
sonnysuesonnysue Forumite
2 posts
edited 30 November -1 at 1:00AM in Motoring
Hi, My son fell 3 payments behind with his car finance and a repossession order was put on the vehicle ( hasn't gone to court) i have just paid the arrears and brought the account up to date for him. But along with the payments were nearly £500 in charges, is this right?? can the finance company charge this amount ??
I have now brought his account up to date but wanted to see if this is right, can anyone help?
Are they regulated?

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