Hyundai second hand car

lattelovely

Hi I brought a second hand car from Richmond dealership in Aug 2020 - car was 11 month old. I had an excellent credit rating THEN AND NOW - as Margaret Thatcher once said 'the woman's not for turning' - the car saleman would NOT come down on the APR !

My haggling was obviously useless...how does 8% do ya !

I promptly cancelled the deal few days later..and got a bank loan instead..at 3.1%....mmmm ! 

So - used Martin Lewis marvellous letter
- to ask if I had been charged CDA.

Got a response quite promptly (under 4 weeks) to say... I DID not have CDA....for my finance for my car...

....that is marvellous..BUT how can I believe them - knowing they were more than happy to SO over charge me for the APR in the 1st place...! 

Do you have to take it that they are not telling porkies ! 🤔🤔

BoGoF

What does Martins article tell you to do if you get that response?

Nearlyold

DCA means that the dealer could adjust the APR upwards to get a higher commission from the lender.

If the dealer could not adjust the APR then it makes no difference what the rate is - you can't complain on the basis that the dealer adjusted the rate. In any event you cancelled the dealer finance.

dunstonh

....that is marvellous..BUT how can I believe them - knowing they were more than happy to SO over charge me for the APR in the 1st place...! 

Do you have to take it that they are not telling porkies ! 🤔🤔

Is this a joke thread?   I cannot tell from those smilies but I suspect they indicate that it is.


Summary - didn't take out a loan, wasn't subject to DCA.  Didn't pay anything to lender but doesn't believe lender.  Yes, it has to be a joke thread.  The smiley for that is