Want to cancel car hp on behalf on 80 yrs old dad. Help?

[KarenMarie]

Can anyone help about car hire purchase? I feel that my 80 year old dad has been dreadfully taken advantage of a few days ago. He, which he understands was a foolish thing to do, went to a car dealership with his car which was old but in very good condition. He wanted to make a cash purchase and exchange his old car for the second hand one - for which he got only £100 (I know, he should have sold privately but we had no idea he was changing his car in the first place). From what I understand he was given the hard sell by about three different people and was persueded to take a £5000 car home on a test drive overnight!! This car was way beyond his financial means - he wanted to pay under £3,000! He thought it through and returned it the next day and bought another cheaper car with £1000 down and £100 off for his old car. Unfortunately he signed for credit on this instead of just paying the total cash, which he had on his person. He was persueded by salesmen offering car services, mot's insurance etc etc with bells on. He took the car home -another error- he's 80. Then consequently started panicking about these repayments - which are for 5 years ending up a car being less than £3,000 ending up being well over £6,000. He's been worried sick, mum who is 82 is worried sick. He told me about it and I went with him to the showroom and after an hour of talking in circles to the manager and appealing eventually to the morals of selling a credit deal to a pensioner of 80 who doesn't want to be in debt for 5 years and worrying if he pops his cloggs leaving the debt to my mum. All he wanted to initially do was pay cash. I tried to get them to rip up the credit agreement and let him pay the cash balance, which he had on him, (the copy he's got is unsigned and undated and is a pre-credit agreement or something - not got it in front of me) Unfortunately theirs are signed. The most we got was either pay a settlement fee to the finance company - Barclays - or pay for a year on finance and settle then - whichever figure is lowest. The latter is what dad has settled for at the moment. This just all leaves me with a really bad taste in my mouth at these hard nosed sales tactics. Is there anything more I can do for him or is that the best we can hope for? If anyone can help asap it'd really be appreciated. He seems OK with the deal as it saves him about £3,000 but I'm not happy with how he at 80 has been bullied and baffled into credit which he did not initially want or need. I challenged the manager with the morality of their actions and bullying tactics after getting nowhere with reasoning. His comment, which is very telling was that his 'duty of care was to the company'. I said 'What about your customers?' No answer - says it all! Any advice please? Is that the best I can do for my dad? This company was Stoneacre by the way who sold this car to dad.

[Never-In-Doubt]

Re: Want to cancel car hp on behalf on 80 yrs old dad. Help?

Hiya

Ok, this is simple to sort out - stay calm, and contact the finace company - forget the retailer, they are agents on a commission percentage. ALL credit has a 28 day cooling off period, that is LAW - so don't worry, contact the finance company direct on Monday and explain this and also ask how you report the garage and in particular the salesperson you spoke to about their lies and underhand tactics at agreeing finance for a pensioner aged 80 that wanted to pay cash.....

I'd also be looking at compensation - however the fact he done the deal with his old car means he cannot argue too much on that, if you could tell us roughly the reg and make/model of old caqr we'll be able to tell you if he was bullied into selling for such a paltry (scrap value) amount.... if so, and it can be proved to be worth a lot more, we could get you the difference paid out or compo to cover the consequential losses...

Hope the above helps.... 2

[KarenMarie]

Re: Want to cancel car hp on behalf on 80 yrs old dad. Help?

Hi Niddy, seeing mum & dad for a meal in less than an hour and will get this info. I looked into the cooling off period and was arguing this case with the manager at the time. So far as I can see, if you sign an agreement on the premises and take the vehicle that day there doesn't seem to be any way out. Then again I'm no expert - just what I can find on the internet. That's why I ended up going down the immorality and bullying route into coercing an 80 year old man into a five year debt to pay double the amount. Dad did get onto Barclays the following day and they said they couldn't do anything about it as it wasn't even on their system. He even went to CAB who were of no use. The very next day after he'd queried Barclays and we'd confronted the manager it had miraculously appeared on their system and the payment for the car had been issued from Barclays to Stoneacres. If you're around I'll stay on here until they get here - about 2pm and ask him about the old car. I also queried their form where they'd put my dad's income down as '0'. How can you sell finance with an income of '0'? He's on a small pension. The manager said they don't have to put any amount in there - so I deduce if you're income is '0' anyone can get a car and they don't give a toss where you find the money to pay for it!! Amazing! Thanks for the reply, just hope I can do more for him than that as it seems to stink to me....

[KarenMarie]

Re: Want to cancel car hp on behalf on 80 yrs old dad. Help?

Oh, forgot to say after the meeting with the manager I contacted Barclays and they also said that it was a different case with car credit - ie no cooling off period. Though they did say they were'nt an expert in the field, but said as he'd taken posession of the vehicle and the credit agreement was signed at the premises, that there's no cooling off period....

[Never-In-Doubt]

Re: Want to cancel car hp on behalf on 80 yrs old dad. Help?

ahhh shoot forgot that sorry. as you signed on site you have no cooling off period.... sorry!

Who is the finance with and exactly when did he sign? reason I ask, if he only signed the documentation a couple of days ago (bear in mind its now the weekend), it is very unlikely the finance company will have processed and paid out on the agreement.

I would try and phone the finance company directly (speak with the motor new business team) and advise them that you do not wish the finance to be paid out on and the finance company will honour this. I have no idea on the legalities/etiquette of doing something like that though but some do, do it....

That's your only real hope - other than the fact at 80, let him default - not much they can do and is he REALLY going to need credit again? Just return the car and walk away...... which you can also do within the boundaries of the CCA but usually there are penalties - if necessary you could also complain to the finance company about the realistic chances of an 80 year old pensioner understanding the legalities of such an agreement..... i'd be arguing, regardless.

[Never-In-Doubt]

Re: Want to cancel car hp on behalf on 80 yrs old dad. Help?

the other option he can do is to pay the funds direct to the finance company so he can keep the car..... if he has the money or can get a cheaper loan elsewhere...... but again, he may end up paying some charges.

I'd use his age in your favour and play the immorality card too.... best of luck

[jen_br]

Re: Want to cancel car hp on behalf on 80 yrs old dad. Help?

Hi-- Just wanted to add my husbands response who works for a car dealership

Firstly the finance company will have already paid it out.. right now there is no cooling off period like Niddystated there is going to be legislation very soon (so ive just been told) -- this will be coming into play shortly Black horse is doing this end of Nov. and they are giving a 14 day cooling off period.

However, you can repay this ANYTIME and only be charged for the interest that you use plus any fees like a standard documentation fee.

Speaking to the finance company will do you no good....

Like I said you can call up tomorrow and settle it and not be charged for more then a few day of finance.

As for compo.. no a company can offer you 1.00 on a car its up to you to take it and even with the glasses guide it doesn't take into consideration the current economic state... Some really high end cars are worth the same as a low end mondeo becuase of the way the economy is going.

And sadly you can't return the car... you have entered into the agreement and signed so (read the agreement every car company is different) the only ONLY time a company will let you return is ifthere is a SERIOUS default even then they will just fix it:

again current legislation is ONCE YOU SIGN THE FINANCE AGREEMENT its yours to keep and you have made the deal end of.


Sorry about this legislation is currently changing and hes basically missed it by 2-3 weeks

If you have any further questions my husband would be happy to help!

[KarenMarie]

Re: Want to cancel car hp on behalf on 80 yrs old dad. Help?

Thanks for the replies. Seems dad is OK with the deal he's getting now after the one hour meeting with the manager. He'll pay the monthly payment for 1 year, he gets free mot & insurance & car services for 2 years and five years for free car maintenance/servicing, as far as I can gather. After the one year he can settle the agreement and pay it off and it will end up roughly about the same amount or slightly more than he would have initially paid for cash. I'm just glad he told us about this mess he got into and have sorted out a better deal for him. Three grand back in his pocket and not theirs. Just can't stand the underhand ruthless and relentless rubbish they push upon people who don't know or understand their rights, regardless of age. Even my head was banging with all the sales pitch the manager was spouting, poor dad was a sitting duck - and he's usually no pushover even at his age, he just got bombarded with their sales pitch. I've told dad to get all this agreement and offers in writing and not to sign anything again without taking it away with him and reading it thoroughly or just bring it to me. I will be monitoring this lot all the way through this following year and the five years to come.... ;-) Thanks for all your help by the way!

[Never-In-Doubt]

Re: Want to cancel car hp on behalf on 80 yrs old dad. Help?

Nice one - result of sorts.....

[jen_br]

Re: Want to cancel car hp on behalf on 80 yrs old dad. Help?

Good one.. My husband says he deals with this ALL the time.. especially men who are going through a phase.. and then they regret it.

[KarenMarie]

Re: Want to cancel car hp on behalf on 80 yrs old dad. Help?

Thanks. Will still be keeping a very beady eye on them and I don't think it's over yet, but for the sake of my dad's peace of mind I'll leave it be until they come up with the paperwork of their promises. Still think it's a disgrace what they did. He needed to change the car as apparantly it kept cutting out and he didn't feel safe - more new info, so this was no phase, not at his age. He went there with the cash and came out with credit... I know people need a job and I hope there's some morally aware salespeople out there, but I couldn't be one - I'm too honest. Shows you how quickly you can get snared! Wonder how they'd like it if their elderly parents were fleeced...? Thank goodness the law is going to be changing! At least mum and dad can sleep a lot better with this sort of being 'sorted'...

[jen_br]

Re: Want to cancel car hp on behalf on 80 yrs old dad. Help?

I dont think they really fleeced him to be fair.. but there is a lot of good finance deals out there... and a lot of people at your dads age take out finance so that they can do other things with their money inthe mean time.. and sometimes you can get 0% fianance for X years... so the money is better in your pocket then theres..

BTW... your deal is with the finance company you can ringthem tomorrowand pay the WHOLE thing off and only be chargedthe interest for X days since he took out the agreement

You dont need to wait the year.

[Never-In-Doubt]

Re: Want to cancel car hp on behalf on 80 yrs old dad. Help?

You can complain and request comp as well. This falls under mis sale of goods. Knowingly selling something with no prospect of it serving it's purpose. In my logic, you have to stand firm and reiterate - he is 80 years old. This ain't a typical pensioner but an 80 year old!!

5 years is a long time, when you consider his age. Anyway, hopefully problem solved. Best of luck.

[Never-In-Doubt]

Re: Want to cancel car hp on behalf on 80 yrs old dad. Help?

Jen your hubby knows the technical side - good on him (get him to write a guide for us lol) - I'm purely arguing the ethical and legal side. As I said, at his age and due to the circs, he could send the finance company a cheque for the amount borrowed and tell em to get lost.

They couldn't do anything legally, he'd win!! Point is, he's 80! Lol