Have I just been missold car finance?

QueenieK

@nyermen
yes that’s the part that seems dodgy to me!

Nearlyold

Interest will not have been charged on the the total price of the car it's only charged on the amount borrowed. I suspect you've misunderstood the Total Amount Payable calculation in the formal credit agreement. 

From memory this starts with the cash price of the goods but this does not mean that Interest is charged on the cash price.

Nebulous2

In pragmatic terms you're still better off. You've spent £115 to get a £400 discount. 

The settlement figure usually holds for 28 days as well, so you could get a bit more interest on your own money before paying it if you chose to. 

The salesman certainly appears to have misled you, but you need to read the loan terms. The written conditions will always trump a verbal assurance, which can be subject to disagreement about what was said / meant.