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Car Finance Help Needed

Home Forums New and News Car Finance Help Needed

This topic contains 2 replies, has 2 voices, and was last updated by Avatar Tan 5 months, 2 weeks ago.

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  • #149602 Reply
    Avatar
    Joe McDonough

    Hi,

    I am desperate for some advice! I treated myself to a new finance car at the beginning of November last year and after signing all documents requesting specific payment date. I have still not made a payment to date for this car! The finance company have never tried to take a payment not have they set up a direct debit with my bank when I look at my online banking. What are my legal rights? If it was a blip within the finance company and they never take Money who owns the car? If it’s something they notice am I within my right to still only pay for one month and not several to correct arrears as it is not my fault fault they haven’t taken any payments! Nor since the day after the transaction went through have I ever had any form of Correspondence. Am I right just saying nothing?

  • #150366 Reply
    Stuart Masson
    Stuart Masson
    Keymaster

    Hi Joe. You signed a contract agreeing for them to take your money, so you can’t really complain if they do. As far as I’m aware, the fact that they haven’t taken any payments from you yet doesn’t change the legal standing of your contract (but I’m not a lawyer, so I suggest getting professional legal advice if you want to take any action).

    The finance company will notice its error eventually and could well try to take all the backdated payments in one go. You’d hope they would call you to discuss this with you beforehand, but they may not.

    Best suggestion would be to take the initiative and call them to agree a schedule. That way, you can make sure that they don’t suddenly empty your bank account in one go.

  • #167344 Reply
    Avatar
    Tan

    hi Joe,

    who is you finance with? this sounds alot what I am going through. Except I am at the end of my payment schedule and now I have no LOG book and the car is SORN as the tax needs to be done but I dont have a Log book…

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