Just a Query re :CAR LOANS

[saranev]

I am half way through reading these pages with interest and its set me thinking,
I bought a new car from a local garage in 2003 and on the agreement it says
Total Cash Price £13150.00
Less Deposit £8150.00
Amount of Credit £5000.00
Charges £1044.16
Acceptance fee £109.00
Credit Facility Fee £60.00
Total Charge For Credit £1213.16
Balance Payable £6213.16
Total Amount Payable £14363.16

APR 11.7


I was wondering does anyone know what the charges etc are for and can i claim anything back. I sold the car in 2004 and paid off the finance.
Appreciate any help guys. Thanks
saranev.



****I WON.....THE HALIFAX SETTLED IN FULL****

[comanche]

It's not very clear what they are. However, if they were set out in the agreement at the time of purchase, then they are very unlikely to be unlawful penalty charges. The key issue here is that to be recoverable charges have to be incurred as a result of a breach of contract and amount to more than the cost incurred by the company in remedying that breach.

Now if they charged you for missing a payment under the agreement that would be another story.

[saranev]

Thankyou for your advice..i see what you're saying