Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
I recently purchased a new car by finance. However I have encountered a couple of after-sale issues.
My previous vehicle, was still under a Hire Purchase agreement with Fiat Auto Financial Services, however I had reached the threshold whereby I was entitled to Voluntary Termination of the agreement. I therefore, in essence, had no part-exchange and entered into a new agreement with GE Finance, via Stoneacre, to buy the new vehicle.
I was told by GE Finance to simply cancel my direct debit, inform Fiat Auto Financial Services of my Voluntary Termination, advise them that the vehicle was in the care of GE Finance via Stoneacre, and they would look after the rest. I would not have to make any more payments on the old agreement, and I would be contacted by post with details of the new agreement. I was therefore able to drive away within hours of entering the showroom, leaving behind my old vehicle.
In the weeks since I have followed the advise; I informed Fiat Auto Financial Services straight away of my intention to Terminate my agreement for my old vehicle, as well as promptly completing and returning the relevant documentation (registration document) – both sets of correspondence were sent via recorded delivery to ensure no delay. However, Fiat Auto Financial Services have since contacted me to advise; (i) I must make this January’s payment of £116.92, and possibly next February’s payment for the same amount (on top of the finance payments agreed on the new vehicle) (ii) I have also incurred a charge of £26.00 for late payment, and if this is not settled by my next payment I will incur the same charge, (iii) failure to make these payments may affect my ability to gain credit (including mortgages) in the future, (iv) the fact I have left the vehicle in your position may jeopardise my right to Voluntary Termination.
As a company governed by the FSA I feel I’ve been so poorly financially advised. I have now found myself in a position where I will essentially be paying for two cars, one of which I am struggling to gain any sort of after-sale customer service, and the other I do not even have in my possession. It feels to me that the customer service stopped the second I signed the finance agreement.
Is there anything I can do? I feel I have been so naïve. Please I need some help to rest my mind.
Have you got any of the advice GE finance gave you in writing? Have you informed GE finance of the problems you are having with fiat on following their advice and asked them to sort it out as they said they would?
Dont take it, get onto GE!
It is normal for dealers and finance companies to settle outstanding balances etc. however it is usually done prior to taking delivery of new car and completing the new finance agreement, only takes a few days, just in case of missed payments, due dates etc.
Is the place where you signed the new agreement an authoirised finance broker, some arent you know, check with council; if not whole thing illegal.
Car Finance Trouble Urgent Help Please
, inform Fiat Auto Financial Services of my Voluntary Termination, advise them that the vehicle was in the care of GE Finance via Stoneacre, and they would look after the rest. I would not have to make any more payments on the old agreement, and I would be contacted by post with details of the new agreement. I was therefore able to drive away within hours of entering the showroom, leaving behind my old vehicle.
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