Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • Johnsta0419
    • By Johnsta0419 12th Jan 18, 6:01 PM
    • 8Posts
    • 1Thanks
    Johnsta0419
    Missold car finance?
    • #1
    • 12th Jan 18, 6:01 PM
    Missold car finance? 12th Jan 18 at 6:01 PM
    Hello all,

    I have a predicament and would appreciate any advice.

    My other half purchased a car from Chapelhouse in February 2014 and was advised that she could give the car back after four years or pay a final balance and keep it.

    The four years are up in February this year so we contacted Chapelhouse to find out when we return the car and if we needed to do anything else.

    Chapelhouse has now stated that we do not have the option to return the car and we must make the final payment.

    I have reviewed the paperwork my wife received at the time and it does not mention that the final payment is optional. Therefore, it is reasonable to believe that we have to pay the final amount and keep the car.

    As we always planned on returning the car, we are unable to make the final payment.

    My question is whether complaining about the advice provided at the point of sale would be worth it. Ideally, we would like to return the car and not have to make the final payment as we were advised we could.

    I know my wife should have read the contract before signing but she trusted that the information provided by the salesperson was correct.

    In addition, the contract just states the final payment amount so it is unlikely she would have questioned if this was optional after already being told it was.

    Thanks in advance.
Page 2
    • Johnsta0419
    • By Johnsta0419 13th Jan 18, 8:52 PM
    • 8 Posts
    • 1 Thanks
    Johnsta0419
    Thanks neilmcl. I will check that with Barclays.

    The manager called us back and said sorry for potentially mis-selling the finance, however, directed us to their compliance manager.
    • bazzyb
    • By bazzyb 13th Jan 18, 8:59 PM
    • 1,194 Posts
    • 3,276 Thanks
    bazzyb
    How can they claim it's an unsecured loan, then put a marker against the car? Either the loan is secured on the car or it isn't.
    Originally posted by Ectophile
    Agreed - but Barclays add a marker and say they hold an interest in the vehicle even though it is not secured. Makes no sense, but it's common practice for some reason.
    • neilmcl
    • By neilmcl 14th Jan 18, 10:12 AM
    • 11,082 Posts
    • 7,907 Thanks
    neilmcl
    How can they claim it's an unsecured loan, then put a marker against the car? Either the loan is secured on the car or it isn't.
    Originally posted by Ectophile
    As mentioned, it's common practice.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

581Posts Today

5,960Users online

Martin's Twitter