Car craft beware !!!!!

[Andrew Frank Smith]

I recently went with my daughter to purchase a car advertised at £7295, she had £500 deposit so when they credit searched her it came up as a decline (because of her lack of credit history). I then said i would take it out in my name so they credit searched me and it came back ok, now here's where the con starts, all but one company declined me and surprisingly Black horse accepted me at an Apr of 16.4% or so they said, I then starting asking questions about Black Horse as I used to work for a debt management company and I know them to be an adverse lender and surprisingly car craft's computer went down so they couldn't sort my finance out, because they know I would have declined the true 33.5% Apr that this loan carried. Iam a 44yr old house owner 0n £30k+ no defaults no CCJs but would have gone with 16.4% as my daughter was happy, so we paid the £500 deposit and arranged to go back the following day to finalise the credit. When we went back i was presented with an agreement with 33.5% Apr and costing her over £12k. I said no way you are ripping us off but looked at my daughters eyes welling up and thought sh**. They said i had the right to cancel the agreement within 14 days so the following day i got another loan to pay theirs off and i have saved over £4k in interest.

Carcraft are praying on the poor and vulnerable they dont have low rate finance companies on their books so beware unless you are absolutely desperate give them a wide birth.

[jasonsdestiny]

Today I brought a Toyota Ayga, I had a £2K deposit and the car price was £7449. The guy at Carcraft comes back and says Barclays have accepted me on condition

I take a 5 year guarantee which was another £1500 which was added to the loan amount. Now this is where it all starts getting confusing, I have two separate finance

agreements one with Barclays and one with Nostrum for the warranty. Whats the difference between a guarantee and warranty if there is none how comes I have

been charged twice. My £2K deposit seems to be lost in warranties/guarantee's. Have I been had, and can I just cancel the guarantee and warranty and just have the

finance like I originally wanted?

 

My reckoning is this Car Price £7449 minus £2000 balance left to finance £5449.00

 

I have ended up with Car Price £7449 add £1995 extended guarantee =£9444.00 less £2000 deposit = £7444

 

What has freaked me out though and I can't work out what they've done is! They have told Barclays

the cash price of vehicle is £8350.00 which is £901 more than price. On top of this I have separate finance

agreement £1164.00 so the vehicle has ended up costing £9514.00 less my £2,000 cash £7514.00.

 

What can I do, I'm one day into my 14 days right to cancel and just want the car at its normal price

instead of this algebra of maths which would confuse the sanist of people after 4 hours of waiting around.

 

If I cancel the guarantee does it void the vehicle finance as they've made it part of the car price?

 

Any help appreciated ????

[carpenteruk2000]

you need to check if you have 14 days to cancel i didnt,thats the type of thing they do nac warrantys are useless try claiming for something on it,try writing to trading standards and the national arbitration service but i think youll find youve been had and you just have to mark it down to an expensive mistake,all the best.

[poppasmurf]

No way would Barclays have insisted on taking out a Warranty as a condition of the loan. It is Carcraft, who are well known for their somewhat dubious sales procedures, trying it on as they make about 50% commission on these warranties.

 

Try getting some warranty quotes online and you will find you can get one for much less than half you ahve been quoted.

[afcwben]

I wouldnt worry about warranties they arent worth the paper they are printed on SOGA will be you friend