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Hi there
I have an issue with car finance. I purchased a car through a friend on finance. It was agreed that I would pay a £500 deposit and £250 a month over 2 years. This is from a car hire / finance company.
I have paid £1000 since 16th May when I received the car. He got me to sign a leasing agreement on the 16th May when I took the car and said that I would be signing a finance agreement on 16th June. He said this was due to me having a months free insurance from the company. I have since obtained my own insurance. I arranged to sign a finance agreement on the 16th June. However, upon arriving at the office he got me to sign another lease agreement for a month, stating that the contract had come in but he didn’t know where it was. I had to pay my monthly payment of £250 or he wouldn’t let me take the car.
Since then I have been asking persistently for my contract and parcel shelf which he agreed to get 5 weeks ago. It has been a stressful situation as I have no proof that this car will be mine once I have made all the payments. I have stated that I will not be making any more payments until I receive my contract. Luckily all payments I have made so far have been by bank transfer.
Where do I legally stand with this?
Thanks
I have an issue with car finance. I purchased a car through a friend on finance. It was agreed that I would pay a £500 deposit and £250 a month over 2 years. This is from a car hire / finance company.
I have paid £1000 since 16th May when I received the car. He got me to sign a leasing agreement on the 16th May when I took the car and said that I would be signing a finance agreement on 16th June. He said this was due to me having a months free insurance from the company. I have since obtained my own insurance. I arranged to sign a finance agreement on the 16th June. However, upon arriving at the office he got me to sign another lease agreement for a month, stating that the contract had come in but he didn’t know where it was. I had to pay my monthly payment of £250 or he wouldn’t let me take the car.
Since then I have been asking persistently for my contract and parcel shelf which he agreed to get 5 weeks ago. It has been a stressful situation as I have no proof that this car will be mine once I have made all the payments. I have stated that I will not be making any more payments until I receive my contract. Luckily all payments I have made so far have been by bank transfer.
Where do I legally stand with this?
Thanks
