Mis-sold HP Car Finance

Penelopa.Pitstop

I suggest reading documents, checking APR and thinking about re-financing with the loan at lower APR.

foxy-stoat

Best thing you can do is take out GAP insurance and keep paying it to the end of the agreement, then it will be yours to do with as you please, assuming you are on a Hire Purchase agreement.

Or find out when your halfway point is and hand it back and buy a car you can comfortably afford.

iolanthe07

Some of you have been a bit hard on the OP and I doubt he'll be back now. Most of us made silly mistakes when we were young, that's how you learn. The person who never made a mistake, never made anything. It's easy to be seduced into buying something you can't afford by smooth sales talk when you're young and naïve, but, realistically, I don't think the OP has any comeback.

bigisi

iolanthe07 wrote: »

Some of you have been a bit hard on the OP and I doubt he'll be back now. Most of us made silly mistakes when we were young, that's how you learn. The person who never made a mistake, never made anything. It's easy to be seduced into buying something you can't afford by smooth sales talk when you're young and naïve, but, realistically, I don't think the OP has any comeback.

Yes and also part of being and adult is owning up to and taking responsibility for those mistakes - not blaming every man and his dog apart from yourself.

I think that's where most of the responses are coming from.

poppy10_2

Haydriddett wrote: »

He told me he’d get it done for me at £240 per month, considering the car had 55k miles on clock.

Haydriddett wrote: »

It’s now been 1 year and 8 months and the car is now currently at 81,000miles, has all sorts of issues, only worth £7,000 trade in value

If you've done 26,000 miles in just 20 months it's not surprising that it will have a few issues

Kentish_Dave

As above, there’s a difference between learning from your mistake and not living with the consequences of them.

In fact if you did not live with the consequences then how could they really be described as mistakes?

bigisi

All these replies are pointless really, the OP wasn't offered "hugs hun" and told they're owed fortunes in compo as well as keeping they car so they won't be back.

Haydriddett

DCFC79 wrote: »

Why not ask questions ?

You should always say you will go away and think about.

Its a huge leap going from a Corsa to an A class but you got lured in, you were only eyeing it up, did at any point you think to yourself "is this a big mistake" ?



If you feel its been mis sold then put it in letter form but I fear you wont get a response your wanting.

So he told me I could have the car for a couple years as I would have POSITIVE equity, I did the math and he was not wrong. Until the finance company told me a few weeks later when I received all the paperwork with all the interest. It was all a verbal agreement at this point. The more I spoke to the finance company the more they told me I couldn’t hand the car back even tho I was demanding to. He told me the car would not be worth less than £9000 by the time I part-ex’d. I was mid-sold too now knowing everything he said was pure sugar coating.

And for everyone who said I shouldn’t have signed, it’s more than affordable for me and was at the time also. The meaning of “miss-selling” is not explaining the risks and the outcomes. Every investment has a risk but if I was told something that isn’t true. I’ve been miss-sold. I have now spoken to Solicitors and they have the case as they realise it is common problem in this day and age.

poppasmurf_bewdley

Haydriddett wrote: »

So he told me I could have the car for a couple years as I would have POSITIVE equity, I did the math and he was not wrong. Until the finance company told me a few weeks later when I received all the paperwork with all the interest. It was all a verbal agreement at this point. The more I spoke to the finance company the more they told me I couldn’t hand the car back even tho I was demanding to. He told me the car would not be worth less than £9000 by the time I part-ex’d. I was mid-sold too now knowing everything he said was pure sugar coating.

And for everyone who said I shouldn’t have signed, it’s more than affordable for me and was at the time also. The meaning of “miss-selling” is not explaining the risks and the outcomes. Every investment has a risk but if I was told something that isn’t true. I’ve been miss-sold. I have now spoken to Solicitors and they have the case as they realise it is common problem in this day and age.

It is NOT the salesman's job to explain the risks and outcomes of your purchase. Those are YOUR jobs. The salesman's job is to 'sell' the vehicle.

But you now have a solicitor on the job. Please keep us informed how you get on.

YorkshireBoy

Haydriddett wrote: »

I can not afford to keep the car any longer and am in financial worry for the next couple of years.

Haydriddett wrote:

And for everyone who said I shouldn’t have signed, it’s more than affordable for me...

These two statements are at odds with each other. Are you undecided?