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About alvinlwh

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  1. Happy new year everyone. Not so happy for me, so hopefully someone can advice me on a problem I am having now. I stayed at a serviced apartment over Christmas and when I checked in on 22 Dec, they took a £100 pre authorization off my card. Checked out on 29 Dec and thought nothing about it. Got an email yesterday (4 Jan) saying that there was damage to the carpet due to an iron burn. The damaged area is in a cupboard which I didn't even used and was most definitely caused by previous occupiers. They are wanting £385 for replacing the carpet. Checked my credit card statement and there is a pending charge for £285 but nothing for the £100 pre authorization charge. I have travel insurance with zero excess and personal liability coverage for accidental damage to property. So my questions are: 1. Will the £100 pre authorization amount turn up later in addition to the £285 now showing as pending? 2. How did they put a charge through for £285 when I only pre authorised £100? Can this be disputed and reversed by my bank since I did not actually authorised this amount? 3. Should I just forget this and claim on my travel insurance instead? 4. If going with 3, do I have to demand for a VAT (or smiliar) receipt from them? If they fail to provide, will it be possible for me to just claim using the email they had sent to me plus the credit card statement showing the fact that such a charge had been paid? Fact is I know I did not caused the damage, but what is the most hassle free method of not paying for something that I had not done? Thanks.
  2. Thanks for your detailed rely. I decided to go with a GB plate instead as the dealer website never got back to me. I had to email them and they email the seller to see if it is still for sale, it seem. I like your answer 4, but I have an Irish mate whom relocated from ROI to Scotland. He had a 10 years old car with ROI plates and they unloaded everything from his car on both end of the Belfast to Cairnryan ferry to search it, including his spare wheel. Even here in Shetland, he still got pulled over by the police until he swapped over to a GB plate.
  3. You are correct, but what you are talking about is the depreciation of a new car, which will be the same if I paid cash for it. What I was trying to work out when I made my first post is the cost of this PCP example vs a bank loan. At £45.60 for 2 years, it is clearly cheaper than a typical bank loan at 6.4%APR. Also, after 2 years, if I decided to keep the car, taking out a bank loan of £7k will be cheaper than one at £14k. Now I have my reasons for going with a new car and they are: 1) Bought a second hand car from the same dealer which is showing signs of problems. Dealer is willing to take it back via trade in for £4000 and book price is £3050. 2) I am an employee of a partner company of the dealer so I get an additional deposit. 3) Also because of above, I get 2 free service, which I think cost £300-400. 4) I also get 2 extra years of free roadside recovery, cost about ££80 with AA. All of the above helps to offset the cost of the depreciation somewhat.
  4. Yes, I have my MOTs for the past 5 years and do around 8500 per year. Which is why I picked 9000.
  5. I came here to ask to confirm if my calculations are correct, which blackknight did. I asked specifically about the cost of finance. I did not ask about the cost of mileage which is related to the use of the car, not the finance of the car. However I then get bombarded with misinformation and rubbish by people who know nothing about the subject (or do not know how to operate a calculator). The difference between £72.00 and £700 is quite huge don't you think? So is the difference between £23,675.10 and £15,810.60. I will expect a site that support the consumers at least be accurate and correct with calculations about money. This forum was much better in 2006 where information was useful, simple and most importantly, accurate.
  6. The dealer knows nothing about this, that is the problem.
  7. It is confusing because people who knows little or nothing about the topic start giving out nonsense and rubbish.
  8. Wrong, 1000 * 7.2p = £72.00 And this has nothing to do with the finance question other than to confuse the situation even more. What's next? 100,000 miles in 2 years means more added servicing and tyres costs as well? Maybe I should also add the cost of topping up the aircon as well? My question is about finance cost for a new car for 2 years, not the running cost a car for 2 years. I know I do about 8000 miles a year and I entered the correct information on the form and there is no need to confuse the matter further.
  9. I am planning to get a NI plate for a new car. To clarify, it is the XXXNNNN type ones, not the NN-X-NNNNN type ones. I am planning to purchase it from a numberplate dealer. My questions are: 1) Do I just pass the documents (right to use, etc) on to my dealer and they will register it with DVLA and I will tax and use it as usual in GB? 2) Will it show up as normal if I use insurance comparison websites? 3) Will it cost more to insure? 4) Will I get stopped and searched more often? (I seen this claim on some forums) Thanks in adavance.
  10. Should be -1. Wish people will stop spewing out nonsense and misinformation about things they do not know. I just came back from the dealer with a fully personalised quote after negotiation. Cost of car: £14788 Deposit: £4000 24 monthly payment of: £121.84 Finance Facility Fee: £10 Total cost at 2 years: £6934.16 (£4000 + 24*£121.84 + £10) Return the car after 2 years, walk away with no further cost. Keep the car after 2 years, pay GMFV of £7865 and purchase fee of £10. Total cost after 2 years: £14809.16 (£6934.16 + £7865 + £10) GMFV is optional, not payable if returning the car after the end of term. According to this Telegraph example: http://www.telegraph.co.uk/motoring/how-to/10339529/How-to-understand-PCP-finance-plans.html It is the total of: Deposit + Total of montly payment + Fees + Final payment NOT Final payment * 2
  11. I am sorry but are you sure you know how PCP works??? According to this http://www.thecarexpert.co.uk/car-finance-pcp-explained/ GMFV is optional, pay up and own the car -or- pay nothing and return the car. "This final value then needs to be paid to settle the finance agreement, either by returning the car or paying out the remaining amount." Therefore: 24 payments of £146.90 equals £3525.60 Plus deposit £4,400.00 Plus Finance facility fee £10.00 Equals £7935.60 according to my calulator. If I decided to keep the car after 2 years Add Purchase fee £10.00 Add GMFV (optional final payment)£7,865.00 Equals £15810.60 according to my calculator. Which also equals to their figure of Total amount payable by customer £15,810.60. Why the need to add the optional payment to the total again???
  12. Thanks to both. While it is true about it will worth less 2 years later, it will still be the same if I paid cash or use a bank loan instead. With a bank loan, the cost will be much more than £45.60. Thanks for confirming my calculations!
  13. Hi all I am looking at buying a new car on Ford Options and the online finance quote comes up with this: Finance plan Ford Options Finance term 25 24 payments of £146.90 Cash price £15,765.00 Customer deposit £4,400.00 Deposit allowance £750.00 Finance facility fee £10.00 Amount of credit £10,615.00 Purchase fee £10.00 Total charge for credit £795.60 Total amount payable by customer £15,810.60 GMFV (optional final payment)£7,865.00 Mileage per annum 9000 miles Excess mileage charge (pence per mile)7.2 So the cost of the car (before any negotiation, just list price) is £15765 Total cost to myself after 2 years (including deposit and GMFV) is £15810.60 Difference = £45.60 Was my calculation right? I am ignoring the £750 "deposit allowance" because it is not coming directly from my pocket but I did include the 2 x £10 fees. Basically I see this and other "dealer's discounts" as just smoke and mirrors to confuse the customer. They are charging me £795.60 in interest and they are giving me £750 to pay them. If my calculation is right, then is this a good deal? I do know that I do not actually own the car on PCP and I need to find £7865 for the GMFV after 2 years. P.S. I am interested to know where the 4.2% APR came from and where is it being applied to.
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