mis-sold car finance

[amynevin]

I have just purchased a car through a dealer and took out a finance package which I believed to be �99.00 per month installments. Turns out that there is a final payment in 3 years of �1600 which I was never told about plus penalties for excess mileage. If I had known this I wouldnt have taken it out. I have tried to return the car and get my deposit of �1k but with no luck.
Do I have any chance of cancelling as I feel I have been well and trully conned?

[maviscoull]

if you are happy with the car and the �99 payments then carry on. this is common with new cars and actually it is a very good way to keep in a new car. in 3 years you will have 3 options :
1) pay of the outstanding balance ( �1600 ) OR
2) return the car and walk away OR
3) the car will have a value figure that usually is enough to pay of the outstanding balance and possibly enough to make some kind of deposit into another new car.
most of this packages do have a milage limit to avoid the car coming back with high milage ( lower the milage, better the trade in price ) but the charge is usually about 10p mile.
hope this makes you feel better.

[Taz70]

We had a similar experience, whereby Carcraft added a warranty onto the vehicle when we stated we did not want it. I suggest you contact Trading Standards and enlist their advice. In the end, we managed to get them to take the car back because we lost all faith in them and didn't want any more to do with them.

You may have a fight on your hands, but if you weren't made aware about the extra �1600 you may have a case. Was it in the small print on the agreement? If so, you may not be able to do anything about it. Wrong, I know, but they're not going to point it out to you obviously. They never do. It's definitely worth a phone call to Trading Standards to find out your rights though. Good luck!

[stuart100]

The payment details would have been outlined on your finance agreement.

They're not allowed to hide it in the small print, so if you signed the document without looking at the details, then you don't have much chance.

Before you sign any finance document, READ IT!

[Mrs_Pegasus]

I believe you could have a cooling off period but this is usually no more than 10 days and you dont say how long you have had the car.

The details of the agreement should all be there to see. If you feel they arent and have been hidden then go and see trading standards or the finance ombudsman.

[oldwoman]

How much was the car. Your deposit plus payments comes to �4564, so if this was the price of the car you might feel peeved, If it was �6164 you might only be able to complain about the extra mileage charges.My husband tied us into a 5year deal , we ended up paying �10,000 pound for a �5,000 car. 21% interest plus loan cover.