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Common sense? If you took out finance and were quoted 10%, what does it matter where the money went?
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Car finance ruling
- Thread starter Ihavenojob
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My view is that if you finance on a car you paid the repayments. End of
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The basic argument is that the car dealer acts as agent when arranging your car finance. Agents have a duty to act in their clients interests. In this case they are seller and agent. Except the court didn’t agree.
To me the ruling makes sense. Nobody forced them to take finance out or insist that the car was financed through them.
This is not the case with payment protection insurance which was automatically added on even though it was invalid in many cases.
To me the ruling makes sense. Nobody forced them to take finance out or insist that the car was financed through them.
This is not the case with payment protection insurance which was automatically added on even though it was invalid in many cases.
I think it was for when the car dealer arranged HP for you but didn’t tell you they were getting a kickback from the loan company. I took out a £4k loan for the car we are getting in September (only to trigger a £2k deposit contribution from the manufacturer). I’m going to pay it off in month 2 but in the bumph it told me that the dealer was getting £200 commission for arranging the loan. Funny thing is, if I didn’t pay it off early and paid it over 2 years, the total interest paid on that loan would be £202! Hardly seems worth the manufacturers time to earn £2. It’s probably set up to earn from those that take out a huge sum for the car.
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Yes it’s a great deal until you realise you paid list for the car.
Bloody didn't! List was £42,020. I paid £35,548. Would have been £37,548 if I was paying cash in full. And I got them to throw in a £400 paint and interior protection treatment. I rarely pay list for anything.
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Does that mean that it isn't subject to the expensive car supplement?
Unfortunately no as it goes on the list price. The first years road tax is included in the price so the next 5 years is the standard rate (currently £195) plus £425. The savings will more than cover that though. The A3 was only £35 a year!
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for someone who comments on here constantly about just about every subject strangely you dont seem to see the every day news
