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I took up car finance 2 1/2 years ago.. been paying it fine.. took approx 900 pounds worth of payment holidays. They stated to me last month if this months payment is even a day late.. they will be taking my car.. and that wont go towards paying off any of my balance?

 

Surely i would of thought the car goes to auction.. and whatever it goes for would go off my balance and i pay the difference that's left?

 

any advice would be greatly appreciated as i have a trip to pay them on Friday and would be nice to know my standing on this. :)

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Hi there, have a look at your agreement - there should be something on it showing how much you need to have paid so that they need a court order to take the car. There was a case on here recently where Welcome took a car without a court order when they had no right to, and they had to pay back a lot of money to the customer.

 

Kind Regards

 

Ell-enn

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the last time i went to pay, they had me in tears. saying if my payment is a day late they are coming to get my car from me and that the car won't pay off any of my finance.

 

They said cos im in arrears my apr is really high and every payment im making now isnt paying much of my balance just interest.

 

bunch of muppets

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Their branch probably isn't performing well and they are putting the frighteners on anyone in arrears to try and keep their figures up. Check that agreement and let us know what it says.

 

Don't let them scare you, next time you go in there just imagine all the Caggers are going in with you - now who should be scared;-)

 

Ell-enn

Help us to keep on helping

Please consider making a donation, however small, if you have benefited from advice on the forums

 

 

This site is run solely on donations

 

My advice is based on my opinion and experience only. It is not to be taken as legal advice - if you are unsure you should seek professional help.

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