Car buying finance question

Hooky said:
I bought a car through SEAT where they gave you 2 years free servicing if you took finance - I took it, as soon as the credit agreement came through went to the Finance website, got a settlement figure which came in a couple of days, put the money into a bank account with my reference on it. Got a letter through about a week later saying all done. Was dead easy.
Click to expand...
You’ve probablys paid more in interest to the garage then the finance company than it would have cost to have the car serviced more than two times.
 


Gutmackem said:
Spotted a car I like at a good price, I want to pay cash (look at me) however the dealer will only sell on finance, now I know there's a poster on here who knows his stuff in regards to this, can I get the car on finance then pay it off in the cooling off period? & Will the seller hunt me down & kneecap me?
Click to expand...
Wont sell for cash? I'd run for the hills mate, sounds a dodgy outfit.
 
Gutmackem said:
Spotted a car I like at a good price, I want to pay cash (look at me) however the dealer will only sell on finance, now I know there's a poster on here who knows his stuff in regards to this, can I get the car on finance then pay it off in the cooling off period? & Will the seller hunt me down & kneecap me?
Click to expand...

Go somewhere else, fuck him off
 
If you want to cancel a credit agreement, the Consumer Credit Act gives you a 14-day cooling-off period to cancel the agreement.

HABA87 said:
It was in their terms, car supermarket place past chester. Looking online at things like the MSE forums they won't budge on price at all, or that fee.
They still couldn't be beaten on price. Stack them in and flog them cheap, high volumes.
Click to expand...

The £99 is optional. They lied to me too and I couldn't be bothered to argue as the overall price was good.
 
Last edited:
AndrewP said:
If you want to cancel a credit agreement, the Consumer Credit Act gives you a 14-day cooling-off period to cancel the agreement.



The £99 is optional. They lied to me too and I couldn't be bothered to argue as the overall price was good.
Click to expand...

The price was outstanding, even with the £99.

AndrewP said:
They said the same to me too mate and I just paid as it was a good price.
Click to expand...
I'd put in a fair whack searching for reviews and I could only find reference to them not budging at all on it.
 
From motorpoint website "A Pre-Delivery Fee of £99 (optional) includes HPI Certificate, PDI, Service (if required) and valet.".

HABA87 said:
The price was outstanding, even with the £99.


I'd put in a fair whack searching for reviews and I could only find reference to them not budging at all on it.
Click to expand...

"A Pre-Delivery Fee of £99 (optional) includes HPI Certificate, PDI, Service (if required) and valet."

HABA87 said:
The price was outstanding, even with the £99.
Click to expand...
Same here. I didn't get a £200 discount for taking warranty and then cancelled it so I felt like not arguing over £99.
 
TopCat said:
Sounds like pushy salesman hoping the customer will cave and take the finance. Bought the wife's car a few years back froma dealer and the look on his face when I said I'd be paying cash was priceless. He was gutted
Click to expand...
The finance companies put what you call stocking plans in dealerships where you pay little interest up to a month and the longer you have the vehicle the interest goes up. The dealership is using Black horse etc to pay for the vehicles.
 
Hooky said:
Eh? I paid something like 12 days interest. Came to about £14 or something.
Click to expand...
When you take finance the garage put interest on, so that then adds on top of the price of your car. Then the finance company lend you the money which they then add on their interest.

Unless you took a different deal that you didn’t mention.
 
WhoAreYa73 said:
When you take finance the garage put interest on, so that then adds on top of the price of your car. Then the finance company lend you the money which they then add on their interest.

Unless you took a different deal that you didn’t mention.
Click to expand...
That's not how it works.
 
WhoAreYa73 said:
When you take finance the garage put interest on, so that then adds on top of the price of your car. Then the finance company lend you the money which they then add on their interest.

Unless you took a different deal that you didn’t mention.
Click to expand...
Not in this case - after the deposit the car was £8k, and the finance was £8k over 3 year at x interest calculated daily. If I paid it off over the 4 year it would have cost me something like £12k, but the settlement figure was something like £8014 which was 12 days interest.
 
Hooky said:
Not in this case - after the deposit the car was £8k, and the finance was £8k over 3 year at x interest calculated daily. If I paid it off over the 4 year it would have cost me something like £12k, but the settlement figure was something like £8014 which was 12 days interest.
Click to expand...
That's how finance works. After the cooling off period there are sometimes early repayment charges though.
 

Back
Top