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What is my legal right with a car on finance?
Hi All,
Hope everyone is doing good.
I am here to hopefully to find out what is my legal right with a car on finance.
I believe, i have paid over 50% of my loan but due to changes in my financial situation, have made late payments ( i did catch up ), i did ask can they change my payment dates, because they ask for payment before i get paid. So my monies would be available to pay, but they said can not change payment dates. So i have to borrow from Peter to pay Paul, this as put me in a muddle.
It now appears the last months payment by Direct Debt didn't go through, which i was not aware of. I paid this month unaware of the missed payment. I have been contacted and they are demanding payment instantly. I said i would pay if i had the monies and explain to them that my car as had a major breakdown due to timing belt failure damaging engine and due to this, face a bill for £1300.00 hundred pounds, on my limited funds i am unable to make an instant payment. I will pay but can we make an arrangement. They replied no, need a payment today by 17.30 hours or we will take the car back, in a panic as what my rights are and how to resolve.
Q1 - Can they just come and take my car ?
Because that's what the have threatened me over the phone and said the car is theirs and they are cancelling the loan agreement. I have not refused to make payments but need time, they said no. They will not let speak to a manager stating they do not have a manager.
Q2 - What is my options as i would like to keep my car ( Although i feel was mis - sold on credit and told car had full service history. However, my car had mechanical issues when first got, which the supplying garage, said they fixed but i give up taking it back as they said any repairs would be chargeable and were very unhelpful. i did inform the loan company but they were not interest and it is up to me to repair the car as it is second hand not new.
Q3 - What is my legal right with a car on finance?
My name is Fay. Any urgent help guidance or advice would be gratefully appreciated, i am using my uncles email address to communicate. Thanking you all, in advance of your help. : )
Hope everyone is doing good.
I am here to hopefully to find out what is my legal right with a car on finance.
I believe, i have paid over 50% of my loan but due to changes in my financial situation, have made late payments ( i did catch up ), i did ask can they change my payment dates, because they ask for payment before i get paid. So my monies would be available to pay, but they said can not change payment dates. So i have to borrow from Peter to pay Paul, this as put me in a muddle.
It now appears the last months payment by Direct Debt didn't go through, which i was not aware of. I paid this month unaware of the missed payment. I have been contacted and they are demanding payment instantly. I said i would pay if i had the monies and explain to them that my car as had a major breakdown due to timing belt failure damaging engine and due to this, face a bill for £1300.00 hundred pounds, on my limited funds i am unable to make an instant payment. I will pay but can we make an arrangement. They replied no, need a payment today by 17.30 hours or we will take the car back, in a panic as what my rights are and how to resolve.
Q1 - Can they just come and take my car ?
Because that's what the have threatened me over the phone and said the car is theirs and they are cancelling the loan agreement. I have not refused to make payments but need time, they said no. They will not let speak to a manager stating they do not have a manager.
Q2 - What is my options as i would like to keep my car ( Although i feel was mis - sold on credit and told car had full service history. However, my car had mechanical issues when first got, which the supplying garage, said they fixed but i give up taking it back as they said any repairs would be chargeable and were very unhelpful. i did inform the loan company but they were not interest and it is up to me to repair the car as it is second hand not new.
Q3 - What is my legal right with a car on finance?
My name is Fay. Any urgent help guidance or advice would be gratefully appreciated, i am using my uncles email address to communicate. Thanking you all, in advance of your help. : )
