Hope everyone is well,
Basically my half way point is coming up to VT the car however ive been going through some of the docuements and im a bit confused.
I took out the finance on May 2008 and im currently paying £196.23 a month. If i times £196.23 by 24 months (196.23 x 24) the total amount adds upto £4709.52 but under the section for 'Termination: your rights' it says '£4336.10'
So by having that on the contract i can VT at 22 months which is when i will reach £4336.10. After that im guessing that is all i owe or would i have to also pay for the insurance after?
I havent miss no payments.
I also recieved a statement from welcome, it does state all the paymentsi made but under '14th may 08' it has 'principal credit adj' for £299.00 does anyone know what that was for?
I have been thinking about trying to reclaim the insurances sold to me... i took out Mechanical breakdown insurance & Total loss insurance, does anyone think theres a chance in reclaiming back the amount they charged me for the 2 insurances?
I know i was mis-sold the insurances by the usual sales talk 'you have to take it out if you want to get the car' and also with the sales man being pushy. I know its my fault for accepting it in the first place, but whats done is done and i have learnt from that mistake
If i did try to claim back the insurances, who would i write to? welcome finance @ ruddington or to direct warrenty?
And would it be wise to VT and try to claim back the cost of the insurances at the same time?
Also the car is pretty much in bad condition, driving wise, would they actually test drive the car or just look at the interior and bodywork. The airbag lights turn on meaning it doesnt work and also when i turn left it makes knocking noises which was there when i brought it. The bodywork wont be such a problem as i will get someone to fix up the dents.
Details of finance:
Amount of credit for the goods £5658
amount of credit for the insurance £1070
Total amount of credit £6728
Duration of agreement: 48 months
Total amount payable for the goods £8673.20
total amount payable for the insurances £1498
total amount payable £10,171,20
Cash price of goods £6409
total cash price of insurances £1070
total cash price £7479
PX allowance £1
total deposit £751
Finance charges for goods £2263.20
option fee £1
Chrage for credit for goods £2264.20
charge for credit for insurances £428
total charge for credit £2692.20
Thanks for your help