pictures here

Ok so I think I know a bit more now.

The old HP agreement was for 3 years with payments of £207.20 per month with a total of £7459. I paid just over 1 year but know that 12 payments were defo paid so lets say £2,486 leaving £4,972 left, but I did make a few more payments leaving a balance of £4094.

On the new HP there was a sheet to say that they were giving me £4094 as trade in for the car on the first HP with them, to clear this off.

here are two boxes, one to say less part exchange value, and then add outstanding HP, both showing £4094. So reading this, they have added the olh HP to the new agreement, can someone please confirm, will attach the pic in the next post.

So looking at the below invoice, Welscum have added the outstanding balance to my new HP, and also kept the car, does this sound right.

Is this correct, I was advised by welcome before i traded in my car, that by law they could not add my old hp to a new agreement, yet the invoice that I have shows that they have done this, and also charged yet more interest on this.

anyone had this already?

Hi Post,

any joy, looking to chalenge the VT figure this week if possible.

thanks in advance

Thanks Post,

Does this make any difference, the figures are out by about £200, (Cant see the document from work). At half term they are saying that I will still owe £1,600, but £271.37 x 2 = £6,512.88, not the £6,700 odd that the document states, plus £1,600 that they want over and above.

Thanks

James

Looking at the figures again I get the following

A (ammount if credit for goods) £9,448 + B (ammount of credit for Insurances) £420.00 - £9,868.00

+

V (charge for credit for goods) £3,024.36 + W (charge for credit for Insurances) £134.40 - £3,158.76

Total £13,026.76, which is correct on the agreement, but the figure in D is wrong if you use the figures above? WTF.

Thanks Ozzy,

The way I see this is that they have given me a total payable for goods of £12,972.36 with a VT price of £6,485.68.

Now after 24 months I should have paid £6,512.88 + deposit of £500. The issue is that I asked for VT and have been told that there is an outstanding of £1,600 is, left the figure at work. Just dont see where they get this figure from.

I'll spk to you when you are finished work. Thanks again.

Thanks Lee, I can make the figures work, but still think that that there is something wrong..

Just been reading a few threads, and after trying to get a figure for VT with welcome, I looked at the figures and these seem to be wrong. It looks like the final payment includes the insurance twice.

The way I see this is as follows (figures from doc and also apr calculator):

Loan ammount £9448

Monthly payment £259.83

Interest £3023.94

Total Payable £12,471.94

Insurance £420

monthly £11.55

Interest £134.43

Total Payable £554.43

Now I paid a £500 deposit, which I have already deducted from above.

SO I see it as total borrowed £9,868

total interest 3,158.37

Total to pay back - £13,026.37 or 48 payments of £271.38. correct?

but according to the document below, Total ammount payable for goods is £12,972.36 which is wrong according to the apr calculator,

and

Insurance total is £554.40 which is correct on the apr calculator.

Ading these together totals £13,526.76, which is £281.80 per month for 48 months.

It looks like they have added the Insurance in (B) and again in (E), so looking at the document the figures are wrong. Can someone confirm.

Thanks

ps I hane not got a scanner so have edited a document and over typed my figures.