AA99 v GE Money Car Loan

[AA99]

 

 

 

 

 

[postggj]

Thats Brill

 

Ill Get Cracking On The Figures

 

Lets See Where Car Craft Have Hid There Undisclosed Commission Payment And See If The Figures Check Out

 

Give Me Half Hour

[AA99]

That looks better:)

 

The other points are that I paid £2,500 deposit and was told that my trade-in was increased to £1500 from £500. I was also told that the NAC Warranty cost £800 to be spread over the term so I took that out too!

[postggj]

Do You Have A Statement Of Price On These Insurance/warranty Etc

[postggj]

With Out Going Over Your Thread

 

Have They Tried To Repo The Vehicle

 

This Is A Fixed Sum Loan Agreement

[postggj]

Where Is Your Deposit On The Agreement

[AA99]

No, no repo threats. I have 2 separate receipts, paid on different cards, 1 for £1000 and 1 for £1500

[postggj]

How Much Is The Addmin Fee And Acceptance Fee

 

What Is This Addmin Fee

[postggj]

Lets Work This Out The Easy/corect Way

Amount Of Credit / Loan £6995 Over 60 Months At An Apr Of 18.2% Apr

 

That Gives

 

That Gives A Monthly Repayment Of £173.23

Interest Of £3,399.06

Total Repayable £10394.06

 

insurance

 

Insurance/warranty Of £1795

 

Monthly Repayment £44.45

Interest £872.24

Total Reayable £2667.24

 

So Lets Add The Interest From The Loan And Insurance To Give A Total Of £4271.30

 

So We Add On The Addmin Fee, I Think £71.62

Acceptance Fee £139.25

Total £210.87

Add £4271.30

 

Total Charge For Credit £4482.17

Now Add The Cost Of Insurance And Loan

 

£8790

 

Total Amount Repayable £13272.17

 

devide By Sixty Gives A Monthly Repayment Of £221.20

 

 

Figures Dont Balance

 

Needs Further Investigation

[postggj]

I See Car Craft Customer Service Is Lookin In

 

Care To Coment

[postggj]

I Think They Have Worked The Deposit Back Into The Agreement

[postggj]

still see you looking in carcraft

 

where is the deposit or trade in colum on the agreement

[AA99]

I See Car Craft Customer Service Is Lookin In

 

Care To Coment

 

See posts # 190 to 194

[pt2537]

now youve got me interested here

 

 

there is a requirement of the Consumer Credit Agreement Regulations (schedule 1) that the agreement states the cash price of the vehicle, and also the deposit advanced, now it seems to me this is problematic with this agreement

 

Im betting that theres a undisclosed commission between carcraft and GE too, so we need the underwriting sheet here for this loan,

 

lemme get my lunch as its been a long day in court, then i will have a shufty at this

[postggj]

aa99

 

if i pm you my email address can you send the agreement by email attachment so i can blow it up

 

ime watching what i say at the moment for obviouse reasons

[postggj]

thought you might like this one pt

 

welcome aboard

[AA99]

still see you looking in carcraft

 

where is the deposit or trade in colum on the agreement

 

Deposit shows as £2510 on the Finance invoice. Presume that's the actual deposit I did pay & £10 for the trade-in:???:

 

When we were still being shown around the showroom and the salesman showed us the car we bought, the selling price was much higher than we'd wanted to go but he then said he could up his offer for our old car from £500 to £1,500 and could jiggle the figures around to get back to a lower price for it:eek:

 

Pure salesmanship, got to hand it the salesmen:cool:

 

When we first started feeling the pinch, together with their £45 p.m. charges, I went back to the same place with a view to trading down. Another salesman took me to one side, cautiously looked all around him and then whispered to me that he shouldn't be telling me this because not many people know this, as soon as you get to 2 and half years through your contract, you can just hand the keys back and call it quits

[postggj]

forget the finance invoice

 

its the agreement that counts

 

you last statment is a vt for a regulated hp agreement

 

yours is a personal loan

 

you own the car out right

 

thats why i asked if they tried to do a repo

 

the finance co dont own the car

 

you do

[pt2537]

nah thats plainly wrong

 

 

repayments do not equal total amount payable for the car for starters

[pt2537]

forget the finance invoice

 

its the agreement that counts

 

oh hell no you dont,

 

that is important evidence in this matter

[postggj]

i think they have added the deposit back into the agreement

 

i see

 

finance invoice as proof

[pt2537]

perfect evidence

 

also its misleading to the customer, on the invoice it suggests that the purchaser of the vehicle is the finance company, this is incorrect.

 

also the agreement itself has defects, when was it signed? what was the date?

 

and also can you please confirm for me if you handed over £2,500 and your car? when you purchased the car?

 

i have clients who have been subject to shall we say creative accounting to allow for a "better" car to be provided by fixing the the deposit, where you allegedly pay a high deposit, but in fact you dont pay anything

[pt2537]

Any ideas AA99?

 

im about for the next 30 mins then im off again til maybe the end of the week as i have some trials up coming and need to prepare

[AA99]

aa99

 

if i pm you my email address can you send the agreement by email attachment so i can blow it up

 

ime watching what i say at the moment for obviouse reasons

 

absolutely! my sentiments!

 

also the agreement itself has defects, when was it signed? what was the date?

 

and also can you please confirm for me if you handed over £2,500 and your car? when you purchased the car?

 

The agreement was signed on 19 March 2006 and yes, we handed over the £2,500 deposit, I have the receipts, and they took our old car.

[pt2537]

absolutely! my sentiments!

 

 

 

The agreement was signed on 19 March 2006 and yes, we handed over the £2,500 deposit, I have the receipts, and they took our old car.

then the agreement should provide the correct figures, and it does not.

 

Car Craft who are consumer Credit licence holders, acted as agents of GE money here, therefore, the agreement should have been populated with the correct information. furthermore, im pretty sure that VAT is not payable on private car purchases, so i note they have charged VAT too and yet the invoice provides no such VAT payable

 

it seems to me that there are questions which need to be placed at Car Crafts door.