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Hi,
James, 25, Preston.
Recently bought a car on a PCP agreement from a local dealer.
At the first instance I told them I didn't want a finance agreement which had an upfront fee or cost so that I didn't have to find extra money at the beginning.
This was understood and agreed prior to the dealers even sourcing a car for me.
I signed some finance documents in the dealership which apparently stated an acceptance fee, which I wasn't explained at the time and rushed into signing on the dotted line. I was never provided a copy of these documents for my own use.
I was only made aware of this acceptance fee once I received a letter from the finance company stating it clearly in bold.
The dealers are now trying to back down from this and telling me that they WILL NOT reimburse the amount.
Because they have technically mis-sold me the finance, I want to cancel the finance altogether, hand the car back and walk away.
I have raised a complaint with the finance company and also sent a formal complaint letter through to the dealers stating the above.
Citizens advice and the Financial Ombudsman are also aware of this issue.
Whats my next step??
Thanks,
James
James, 25, Preston.
Recently bought a car on a PCP agreement from a local dealer.
At the first instance I told them I didn't want a finance agreement which had an upfront fee or cost so that I didn't have to find extra money at the beginning.
This was understood and agreed prior to the dealers even sourcing a car for me.
I signed some finance documents in the dealership which apparently stated an acceptance fee, which I wasn't explained at the time and rushed into signing on the dotted line. I was never provided a copy of these documents for my own use.
I was only made aware of this acceptance fee once I received a letter from the finance company stating it clearly in bold.
The dealers are now trying to back down from this and telling me that they WILL NOT reimburse the amount.
Because they have technically mis-sold me the finance, I want to cancel the finance altogether, hand the car back and walk away.
I have raised a complaint with the finance company and also sent a formal complaint letter through to the dealers stating the above.
Citizens advice and the Financial Ombudsman are also aware of this issue.
Whats my next step??
Thanks,
James
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