Have I been conned?

[laurence1976]

Is there anyone who can advise me on the legal side of buying a van?

Last week I put down a deposit on a 3 year old Nissan Vanette which I bought on finance from a reputable van dealer. The dealer told me the percentage rate would be 7% which I thought sounded like a good deal so I went ahead with the purchase.

A few days later after it had been serviced and MOT'd, I finally went to collect it. The dealer then handed me over all the paperwork and I was all set to go but he then couldn't find the logbook and told me to hang on for a while until he found it. He never found it so I could not get it taxed and thus had to be lent a free courtesy van until the new logbook is ordered. I am still waiting a week later.

As the van was never taxed in the first place do you think it never had a logbook and they were just pretending to have lost it?

Also the paperwork regarding the loan arrived through the post, with an APR of 16% NOT 7% AS HE HAD QUOTED!!!

Do you think I have been stitched up here on the logbook and the loan? I need some advice on this, is there anything I can do? he told me he would give me 6 months free tax as a gesture, but surely if it had a logbook it would have been taxed already?

Advice please

Laurence.

 

[moderator]

Is there anyone who can advise me on the legal side of buying a van?

sorry, please note 16, forum rules

 

[andy]

Also the paperwork regarding the loan arrived through the post, with an APR of 16% NOT 7% AS HE HAD QUOTED!!!

have you got the 7% in writing?

 

[Quick Fit]

Cancel you contract with the dealer. He broke the contract. Go and see the CAB. Good luck

 

[omahied]

the 7% will be flat rate that works out around 16% apr I think you may have been misled but thats salesmen for you, how far do you think you could throw one is about how far you can trust one.

 

[Thermo]

you should have a cooling off period with any loan you take out allowing you to cancel without penalty. Phone trading standards in the morning and get it sorted asap

 

[masona]

I'm afraid most car dealers will only tell you the flat rate and not the actual cost of the APR which is misleading. Was this not shown on the form when you sign for the loan agreement?

 

[empip]

In days well past, a 7% flat rate would mean on, for example, a 3 yr loan of £1000..... 0.07 x £1000 x 3 = £210 int
Repayments would have been £1210 / 36 = £33.61 pm.

If the dealer stretched a point and the flat rate was actually 7.5% the APR would be 14.59% .. The flat rate for 16% APR on 36 mnth payback is 8.22%

Note, if you make the required payments by the due date you do not pay 16% per annum ... If you defaulted, and the lender allowed you to remain in that state, for, let's say, the first year, then you would pay 16% interest, through compounding the interest owed added per month. etc.

Did you make use of the 'cooling off' period??

Another old trick I have seen .. 10% discount on new car sir?
0.9 x list price ?? Nah, quoted price / 1.1 = price to pay.
In the heat of the sales frenzy-moment, when questioned, the salseman multiplies the 'price to pay' by 1.1 ie increases it by 10% and , voila arrives at the original quoted list price .... He, of course, added 10% to the 'reduced' price which itself is less than 'list' nice little earner there if the 'punter' is persuaded.
D'you see ? 10% of the reduced price you pay, is less than 10% of the list price .. I think that paid for many a good night out !!
Twas a little more complicated in the past .. Special car tax to be paid in full .. VAT ... then the discountable list price, easy to frig the figures.. a fair bit of the time.

 

[darude]

I got stung on APR by Dixon's when I bought my car on finance. I reported them to trading standards who were suprisingly helpful. Cancelled the agreement. I was told that this is typical ploy by salespeople, luckily I had a proposal prior to agree which stated there deal but didn't state APR or AER for the interest. I had to confirm this and was wrongly informed (the saleman actually wrote it on the sheet).


I think they have advise now on the web about this?

 

[dabaldie]

I got stung on APR by Dixon's when I bought my car on finance

thought they sold tellys... or have the diversified?

(sorry couldnt resist)

 

[laurence1976]

2 weeks on I still have not received my van, they are still waiting for the new logbook to arrive which they said would only take about 10 days.

Yesterday I got even more suspicious as the dealer said they needed the MOT certificate (which they already issued me) back to try and get it taxed quickly. Surely an illegal move?

Having spoken to Trading standards and the DVLA, they advised me that it takes 4-6 weeks for the new document to arrive and it cannot be taxed without this document and that the MOT certificate will do nothing to hurry it along? Could they be trying to get a fake tax disk or something?

After receiving this information, I phoned the dealer and explained to him that I thought it was dodgy and that I had informed Trading standards/DVLA and also mentioned the Financial services authority. With that he really went into one and shouted " HAVE YOUR MONEY BACK AND DON'T TALK TO ME LIKE ****" I think I really must have touched a nerve!

The van is also an export which he never told me in the first place, could this be why there is no logbook and thus can't get it taxed? i'm certain he never had it in the first place although he pretended to have lost it! What should I do next?

 

[masona]

Have you tried the free citizen advice bureau yet?

 

[darude]

At least if you get your money back that's the main thing. You should send a letter in to the local paper and copy him on it, see if you can touch two nerves!!! After all think about all the problems he's caused you, he deserves a good slap, it's people like him that ruin the car buying.

When I updated my Car last time my misses was heavily pregnent and the amount of used car sales men that kept saying to her things like "your best getter a slightly newer car, you don't want it breaking down with a baby" and "you need a car which offers the best safety" (Which co-insidently are more expensive (and newer) if you belive what they say). Why do they think they can or even have the right to pressure you into buying something you don't want or need.

 

[empip]

Only because they judge that your mind is not made up, they play on uncertainty.
Get that money and run... A good lesson learned.. Not a pleasant situation, but always liable to happen.

How can you buy from at best, sharks, without examining that which is promised.??
The more they talk up a vehicle, the more proof you should demand .. A good vehicle will sell itself.
Be an investor not a punter.