NOW OPEN: the MSE Forum 'Ask An Expert' event. This time we'd like your questions on TRAVEL & HOLIDAY DEALS. Post by Wed and deals expert MSE Oli will answer as many as he can.
The good old car salesman trick
in Consumer rights
17 replies 1.2K views
Latest MSE News and Guides
Energy Price Cap change
Martin Lewis on what it means for youMSE News
Best £1 you've ever spent?
Share your most impressive bargainsMSE Forum
New MSE Forum avatars available
Try 'em out nowMSE Forum
"If you can afford x amount per month for 2 years, which will get you this £10k car, why not pay the same per month for 4.5 years and get a much better car?".
He is 22 years old. He is an adult and he seemingly knew how much he had to spend. If he wasnt capable of making big financial decisions you would have gone with him.
Does he regret it because it's been impressed on him it's a mistake?
My advice would be to sell the car while it's still worth something and pick up an old banger that owes him nothing, drive it till it dies and then get another one. Your twenties are for living, for taking everything life offers and doing your best to experience some of the world's riches. They are for having fun, not worrying about hire-purchase agreements. He'll regret this when he's older and looks back on holidays missed, nights out not been on and friends not made.
*I have various friends and acquaintances who did the same as the OP's son and got shiny cars on the never never whilst in their late teens and early twenties. Where did those cars go? In the crusher with my late, hardly lamented Mondeo. Where did the money go? Mine went on clothes, jewellery, drink, fags, perfume and having fun. The rest was wasted on a property deposit and savings. Where did my friends' money go? Nowhere that useful...
In terms of the thread I agree with the majority. Your son is an adult and has the ability to say no. In all honesty if he considers it a problem he should be posting here himself. I too wonder whether he considers this a problem as much as you do.
I think I am missing the "trick" why do you think the salesman wouldn't attempt to upsell your son a more expensive car and spread the cost over a longer period of time that's his job.
I'm not sure who is more gullible, naive or easily led out of you and your son. On the bright side think of all the chicks he'll be able to pull in his shiny new motor.
On a serious note...
You could always cancel the finance and insurances and obtain cheaper finance elsewhere within the cooling off period. Then sell the car for as much as possible and pay a lump sum off the new finance before paying the rest off as quick as possible. It will probably leave him in debt by a few thousand £ but at least once it's paid off he will be able to enjoy his youth without this financial millstone round his neck.
Ultimately though, there’s no comeback - he bought a product, paid for the product and now regrets the purchase. He can sell it or suck it up and keep it.