O/T Car finance

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Originally Posted by Shedboy1971

Ok watch this could be a pseudo yo-yo scam - to get you settled in car then see a discrepency and get you to pay more interest (the fvckers can actually do that if full credit score isnt great). They are a shower of cvnts Arnold Clark. But its their fault they gave you the car.

Legally you got a loan in good faith - do you have the original documentation? with the in-lending itemizing your payments etc and total interest cost. Hope so as that helps.

Check your credit on experian as well.

Contact them immediately and ensure any resigning will be for the SAME terms. Next stage is to ask for down payment back, trade-in back and cost of alloys. Threaten a lawyer if needed.

Car dealers do have automatic credit scoring so if it is because of a signature discrepency then maybe nothing to worry about.
Just beware they charge higher interest.

As you have registered it the car immediately depreciates in value so AC should try and make sure this goes through.

Often It gets sent to underwriting and the salesperson and finance manager don't inform you it has been 'conditionally approved', and treat it and lead you to believe it's been approved. So the paperwork is important.

Dont worry If the dealer didn't have you approved with a lender they'd be hounding you or knocking at your door step as they'd be on the hook for that vehicle. They need to sort this in my view and it may just be a wording or signature as you said.

if it gets messy PM me.

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Cheers mate. Lots of awesome info there. She'll have certain documentatiin, I'll need to ask her. I can't remember seeing any payment it wising when we picked up the car but I'd have to check.

She has fairly decent credit. Above average for the country on Clearscore anyway.

I'll wait and see what the second application comes up with before demanding the payments back but I'll certainly be asking for everything.

Yeah, it's wierd that they are happy for her to keep driving about in the car just now while they try and sort stuff out. I guess we'll see what happens in the next few days.

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Originally Posted by tHeArAb

Cheers mate. Lots of awesome info there. She'll have certain documentatiin, I'll need to ask her. I can't remember seeing any payment it wising when we picked up the car but I'd have to check.

She has fairly decent credit. Above average for the country on Clearscore anyway.

I'll wait and see what the second application comes up with before demanding the payments back but I'll certainly be asking for everything.

Yeah, it's wierd that they are happy for her to keep driving about in the car just now while they try and sort stuff out. I guess we'll see what happens in the next few days.

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prob just an oversight then or stupidity from finance company or AC or both. hope all goes well.

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Originally Posted by Shedboy1971

was it your right hand stokey >;)

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Oh my rhe mind of an addict ! 🤣

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Originally Posted by tHeArAb

I'm what way is it a con compared to PCP? She went for the HP as the car will obviously be hers to keep at the end without the need for a decent sized lump sum if she wanted to keep it after the PCP ran out, and if she does want to sell, well at least she'll get a bit of cash for it. Payments were the same, albeit HP was a year longer than PCP.

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PCP is much much better, for example, i just bought her a new car 3 weeks ago. Second hand it was more expensive a month than a brand new one was a month. Work that out? PCP you hand back the car after 2 years and get another one, you don't loss money, the depreciation doesn't affect you either. PCP no one ever keeps the car for the balloon payment, never. Selling or trading in a used car is sh1te no matter what the car is, you never ever get what you think it's valued at. and the people who say 'oh its not your car though' well it is, its your name on the V5 and its you thats paying for it!

The amount of money I've lost using HP over the years is scary. never ever again.

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Originally Posted by stokearab

Oh my rhe mind of an addict ! ��

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XD