Car Finance (part exchange)

[rampant84]

hello there,
im having quite abit of hassle with arnold clark,i currently have finance for a car that is a year and half old and i was going to do a part exchange to get a new car but the car i was going to get i cannot get insured on,i can but it will be way to much money to pay for insurance and finance every month,now ive been trying to tell the salesman at arnold clark this and hes telling me that "i need to get something sorted" as the car i was gonna exchange is all ready to go and the finance company are just waiting on the paperwork to be signed,i feel as if im being pressured into this from them i will be going into negative equity and debt but trying to tell this salesman that i don't think i can proceed,hes trying to tell me to get 30 day cover on insurance then try and get something sorted but as i said after the 30 days cover runs out ill still be paying crazy amount of money each month for finance and insurance,i really dont know what to do i feel arnold clark could have handled this better but there just trying to get a sale i suppose. i really dont know what to do.

[wales01man]

Re: Car Finance (part exchange)

Walkaway from them

[rampant84]

Re: Car Finance (part exchange)

can i get no comebacks from them any legal issues etc? everything has been done on the phone and there's been no pen to paper or anything

[Amethyst]

Re: Car Finance (part exchange)

Yep, definately walk away, trust your gut instinct, this deal isn't right for you so don't be pressured into it.

What's happening with the finance on your current car?

[Amethyst]

Re: Car Finance (part exchange)

How did you make the 'deal' in the first place? If nothing has been signed or agreed then just tell them you're not interested. Do they have any hold over you with your current car?

[rampant84]

Re: Car Finance (part exchange)

i got accepted for finance on the new car and i think all there waiting on is me to sign the paperwork,i think the finance on my current car will stay the same unless i sign the paperwork

[rampant84]

Re: Car Finance (part exchange)

basically it was done online where i liked a car on arnold clark they phoned me back to discuss the situation,i really didn't think the insurance for the car would be high,i think its high cause ive had my license under 2 years but paying for the car would be £280 month plus £190 for insurance for a month...£400+ a month would hit me hard ..id struggle to survive for 5 years on that.

[Guest]

Re: Car Finance (part exchange)

Yes as said, if this wass done on line send them an e-mail stating that due to further consideration you have decided not to proceed with the purchase.

[rampant84]

Re: Car Finance (part exchange)

thanks,i will have to phone him tomorrow and tell him i cant afford it,all there seeing is a sale, not caring who they sell to or there financial situation.

[Guest]

Re: Car Finance (part exchange)

thanks,i will have to phone him tomorrow and tell him i cant afford it,all there seeing is a sale, not caring who they sell to or there financial situation.

Yes they are very good at trying to make you feel obliged to purchase, all they are really thinking about is their commission, stick to your guns you will be fine, there is nothing they can do .