I think I’ve been ripped off by a HP car dealer

~Brock~

The original post doesn't make sense. £13,500 payable at £200 per month? Even after 5 years that only adds up to £12,000.

Apart from the fact that it's 10 months too late, there is not enough information to even begin to respond to this......

poppasmurf_bewdley

J_John96 wrote: »

Hi guys

Need help..

In January 2019 I saw a car dealer about a car on fianance (£151 per month £0 deposit originally) he basically ripped my credit score to shreds applying for finance for myself for the amount of £10,000 for the car. It eventually came back that the “only company” willing to lend me money was wanting to take it out at £13,500. I’m now paying £200 a month for a car and feel I’ve been ripped off and MAYBE missold? I want rid of the car and the expensive car bill every month as it’s not worth it at all! Anyone know how I can get help?

You are suffering from 'buyers remorse'.

It's that feeling you get when the glitzy new car feel has worn off, you don't look admiringly at the car every time you get out of it, and you begin to realise how much it's actually costing you every month.

Most of us have been there at some time, so no, you've not been mis-sold, but you have perhaps mis-bought!

MasterG83

jtwn wrote: »

Many of us will have been there when we were younger. And I can tell you, finance people at car places are trained to see the younger man as a target as a whole new world of opportunity is opening for them...including finance £££.

I have been in the motor industry for many years and I can assure you that this is complete rubbish, where did you find this little nugget of information ? Its never been part of a course I have taken and I'm pretty highly trained ? Enlighten me ?

MasterG83

Quit simply my friend you haven't been mis-sold, you have probably been turned down on a particular lenders criteria being probably new to the credit world, whats was your income like ? Riskier lends are generally rewarded with higher interest rates.
Buy yourself out of it ?