Quote:
Originally Posted by SluffGuy
Sorry to query but this sounds a little odd to me.
You must have, somewhere, a copy of the signed loan agreement. By law they are required to give you this and the loan agreement must also state pertinent information like the APR.
If all you have is the receipt for your deposit then I'd argue you haven't entered into any sort of loan agreement at all, bizarre as that sounds.
I'd be interested to know how you get on, but don't let them stall for time...
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Monday 21st April - Phone call from salesman about
CTR GT, I was interested so during dinner break I went along and agreed the price and put down £670 and paper receipt given from chip n pin machine. No mention of APR, but I did say I wanted monthly payments to be about £200.
Tuesday 22nd April - Brought in driving licence, noticed the wrong address so took along numerous utility bills, these were photocopied but was asked to bring in my passport on thursday as further proof.
Thursday 24th April - Took in passport, as I was picking my car up the following day they reckoned it would be a good idea to get the finance side sorted out so as to save time pick up day. In the office I double checked the monthly amount which was ok. Two signatures on the PDA and he said "That's it" and I replied "All done?" and so it was. I wasn't given any paperwork whatsoever, nothing printed out.
Friday 25th April - Pick up day. Paid the remainder of deposit £5330 and this time was given two A4 receipts (one for 21st and one for 25th) these were just receipts and no credit details atall. Sat down with salesman and he went through the handbook folder, then to the car, showed the controls and off I jolly well went happy as larry.
Wednesday 30th April - Credit agreement is posted and this is the first time I have read it, hence the shock at the APR. Having just gone through this mini blog I have realised the reason why I never read the credit agreement in paper form is because it was done by PDA and not printed out, I do recall being surprised the dealer never gave me any paperwork because I thought to myself "that was easy". I actually work on a PDA and I know it sounds daft, but I would have been intrigued to view my signature in digital form, even the Hire Purchase agreement form from blackhorse which is all I have hasn't got my signature on it? Baffled.
I will explain all this to him today during the phone call, and I will post the minute I'm off the phone.