Conditional sale/fowllers finance

[Askey79]

Hi. Can someone help me please. This has been brought up before and I replied to the thread by got nothing back so asking again as I don't know what to do for the best

I have had a car from fowllers and it is on a conditional sale agreement. Others have said there's are conditional bill of sale agreements.

Having read there posts it is understood that they have been able to return there cars and not have to pay. I have looked at my agreement and it states that if I want to return my car I have to pay nearly £4000. I have tried to contact trading standards today but they no longer have a direct number where as in the other thread people have managed to get them involved as fowlers are not meant to be using these agreements and have managed to hand the car back. I need to return it as my hours at work are being cut and I will not be able to afford to repay and don't want to end up in more debt.

Please can someone help me with this. Thanks

[R0b]

Re: Conditional sale/fowllers finance

A conditional sale agreement is similar to a hire purchase agreement both are regulated by the consumer credit act. A bill of sale agreement also know as logbook loans which is where a lon is secured against the vehicle of your car - they are rare these days. Can you confirm which one it is? If your not sure you can always upload a copy with personal details redacted and we can tell you.

[Askey79]

Re: Conditional sale/fowllers finance

Hi. Mine says that it is a conditional sale agreement but my copy is not signed by me neither is it dated. It just states what date my first payment is due

[Amethyst]

Re: Conditional sale/fowllers finance

Can you do a photo or scan of the agreement and upload it here - blanking out your personal details.

[Askey79]

Re: Conditional sale/fowllers finance

Hi think I have attached pictures of my agreement

[Askey79]

Re: Conditional sale/fowllers finance

Can you see them??

[Amethyst]

Re: Conditional sale/fowllers finance

Yep , excellent - just saving my neck a bit.

[Askey79]

Re: Conditional sale/fowllers finance

Haha sorry. I'm using my phone so a little harder to tell what's been done

[Amethyst]

Re: Conditional sale/fowllers finance

[R0b]

Re: Conditional sale/fowllers finance

What I can see from that is you need to pay 50% of the total amount payable and looking at your agreement that is just under 4k. What I am a bit confused about is the total charge for credit.

Do you know what this is for? it seems to me that they have charged you over £3k for them giving credit and that to me seems like an extremely unfair term - or am i missing something?

[Amethyst]

Re: Conditional sale/fowllers finance

That doesn't look very positive ( but car finance isn't really my area so let the CCA peeps have a look at it)

anyway here's the breakdown ( nasty APR rate!)

[Amethyst]

Re: Conditional sale/fowllers finance

Sorry R0b that's me being slow uploading - it's the interest... front loaded

[Amethyst]

Re: Conditional sale/fowllers finance

So three months, could she argue she should only pay half the car value ( £4k ish ) plus three months of interest ? That's does seem wrong to charge half the total agreement amount when the interest hasn't been charged yet.

[Askey79]

Re: Conditional sale/fowllers finance

I've seen on another thread by Fowlers that someone was able to return the car without paying anything but that was a conditional bill of sale agreement which Fowlers have been warned by trading standards not to use but still do. I was never told the price of the car was just told the weekly payments

[R0b]

Re: Conditional sale/fowllers finance

Misread what I saw, Total charge for credit is the total amount borrow pays back including interest admin fees etc.

Askey your agreement is not a conditional bill of sale agreement otherwise it would say conditional bill of sale. it says conditional sale agreement, perfectly valid.

Now I am afraid my calculations on working it out is not so good, but if the total charge for credit is not correct you could possibly have some form of argument as the prescribed terms are not correct. However as it currently stands until otherwise you need to pay half total amount.