unwelcome car finance

[chad81]

hi guys ive had a car on hp with welcome car finance for just over 2 yrs now and never missed a payment.I contacted then about 2 months ago to find out where i stood with handing back the car as agreed in the contract after 2 yrs of payments.I was told at the time of purchase that i would be able to exchange or upgrade with a better apr deal (silly me falling for sales jargon) on contacting them i was told there were 90 pounds left to pay b4 i could hand it back i have made 2 full payments of 285 pounds since then so i contacted them again this morning only to be told i still owe nearly 700 hundred pounds so i gets my statements out and contract which shows i have paid of more then the amount expected by far so i phones them back and speaks to a manager and he tells me the contract that was agreed and signed by my self (but not them i have noticed) is wrong and the figures he has there are correct how can this be and can they just chop and change as they like.Also there is an insurance payment that is supposed to be paid at 12 pound a month which comes out of the 285 but welcome have only been paying 8 pound a month now there billing me for this surely this is not right. also they are not trading as welcome car finance any more and does state in my contract. IF THE CONTRACT IS NOT FULFILLED , PERHAPS BECAUSE THE SUPPLIER HAS GONE OUT OF BUSINESS YOU MAY STILL BE ABLE TO SUE THE CREDITOR.is their anything in this statement towards me as they are no longer trading as welcome car finance
thanks for all and any help it is much appreciated

[shell]

Re: unwelcome car finance

Chad, I don't know how much you have paid, but according to the law if you take finance with the company you buy the goods from, when you have paid half the cost you are entitled to hand the goods back with no recourse. This goes for anything bought on H/P. New or second hand, car or washing machine, anything.

You are allowed reasonable wear and tear.

If you look at your credit agreement, in very, and I mean very, smallprint it should tell you this.

Oh and you don't need to exchange or upgrade, you can just hand the goods back and walk away.

Also, this doesn't affect your credit rating.

[chad81]

Re: unwelcome car finance

hi,ive gone thru my contract and i have to pay 6655.37 before i can vt my car.ive paid 6567.19 to date.which means i owe them 88.18.i will be paying that first thing fri morn,can they refuse totake the payment??the problem ive got is that they have told me that the gap insurance is not included in the total ive paid!!they are saying that i still owe 313.05 on the insurance and 364.61 on the car!im confused about the figures they have because my statement clearly shows how much ive paid to date and when i spoke to welcome they also told me how much i had paid,both the same amount.how can they try to charge for something that is clearly in black and white in my contract a figure that includes the gap insurance??when i said that to them he said as i wasnt a solicitor then i wouldnt understand the wording of my contract.lol.also the amount on my contract for my gap insurance is meant to be 12.39 a mth included in the mthly payment of 285.00,when i spoke to the company they told me only 8.00 is being paid every mth!!!this is a bloody joke.wheres the rest goin then?they also couldnt answer that.they just told me to ring the vt team to discuss the amounts outstanding.i hope this makes sense to u,.im just confused by the whole thing.lol.thanks for ur help.x

[chad81]

Re: unwelcome car finance

hi again,ive been goin over and over my contract and every time i did the maths it was workin out 200 pd wrong on the figures i got and the 1s on the contract.i finally realised i paid 200 pd deposit at the time of buyin the car,so when they did the workin out they added the deposit back to my total so its as if i didnt pay anything??i have still got the receipt and payment slip of the deposit. they have then charged me interest on the total amount including the deposit i paid!!why the hell did i not look at this much closer at the time!they r robbing people blind and seem to be getting away with it.what if any can i do about this.thanks again.x

[chad81]

Re: unwelcome car finance

well would u believe it,i spoke to the vt team this morning and they have told me ive paid over the agreed half way amount on my contract.!!apparently the gap insurance had been cancelled on the car,not to my knowledge mind,so there is nothing outstanding left to pay and i can vt the car with a clear account.yeahhh.i had not agreed at any point to cancel the gap insurance so i would have been screwed if id been in a crash that was a total lose id would have been left with a massive bill for the interest!r they allowed to do this without my permission r knowledge.also,when they take the car can i remove the tax disc as its a new 12mth 1 and i didnt have tax when i bought the car from them!!thank u.x

[shell]

Re: unwelcome car finance

Chad, you now have to look if you have overpaid them. If you have been paying £12 a month for insurance that had been cancelled, where has that money gone? They have been taking money for a service that was not being supplied.

[chad81]

Re: unwelcome car finance

ive not received any paper work from them to check wot money has been paid where,also ive just had a phone call from a recovery man to say he has been instructed to pick the car up,so he is takin it on monday morn!is that legal if we havent got anything thru to say its been cancelled.i asked him to leave it longer but he refused,where do we stand on this can he take the car.thank u.x

[shell]

Re: unwelcome car finance

Once he takes the car he has to give you written confirmation that he has taken the car. This should be all the proof you need.

Also, if you want to keep the car longer, the finance company can ask for another months payment.

If you get no result from Welcome about your payments it might be worth sending a SAR request.

[chad81]

Re: unwelcome car finance

hi i received.the letter this morning with the amount that ive paid on the car,i had to pay 6655.37 to be able to vt the car.i actually paid 6768.19.does that mean they owe me 102pd and few pence??if so how do i go about gettin it refunded.thanks for all ur help up to now.x

[shell]

Re: unwelcome car finance

I'm not sure you are due anything back, as it's not a pay half give product back thing. It's a once you have paid half, you can return the product, it doesn't mean immediatly, you can keep it for as long as you like, but you still have to keep up payments. so you can still keep it for a couple of months as long as payments are kept up.

What I was talking about was the fact that as far as you were concerned you were paying £12 a month in insurance only for them to tell you the insurance had been cancelled. If this is the case and you continued to pay the £12 every month, where is that money?

[chad81]

Re: unwelcome car finance

i think im gona have to s.a.r them as the new letter doesnt even have any payments on it.i really couldnt tell u where the money is but i can only assume it all went on the car!the contract i have is all wrong to because of the deposit and final figures theyve taken it off then added it back on further down the page then added interest.when i asked about this i was told for them to put it as it should be i would owe them 84pd!!!.im gona ring them on monday and see how far i can get with them.also it is 12.43 on my contract for the insurance but they were apparently only paying 8 pd then i was told it was 11.43.but either way its not the amount on my contract.still dont no why it was cancelled either.lots of things i have to try to find out hence i think my best bet is the s.a.r.wots the letter i would have to send them is it the same as the 1 to the bailiffs.thank u so much for ur advice.x

[shell]

Re: unwelcome car finance

Chad, I'm sorry, but now you might need to get one of the more experienced members to help you with a SAR letter.

The best bet if you are having difficulty (I would think) is to find one and then modify it to your needs.

I would then post it up (minus personal details) so that them that knows can check it for you and maybe point you in the right direction if you need it.

[chad81]

Re: unwelcome car finance

thanks for all ur help.ive got a draft already for a sar that i sent to some bailiff,ill just change a few things as i wont have to be soooo blunt hopefully with the finance company.thanks again.x