welcome car finance - advice required

[calshan]

Hello,

Pretty new to this, have spent a few days looking at all the threads before looking into the legalities of my car HP agreement with Welcome Financial Services Ltd.

 

I purchased a second hand car in a part ex deal back in April 2007. This was at Car Craft, but owing to my credit, i was taken to an office whereby a rep from Welcome Finance told me they can help me.

 

I was offered a vehicle which i accepted and my own vehicle which was 3 years younger with 3 yrs finance remaining went to Welcome.

I was asked for a £50 deposit (sure i paid £100 but i don't have the receipt) and set up on a deal. I recall the date of the physical agreement and even have the 7 day free insurance dated the same day i went into the showroom. My querey is, i have a hardcopy of the HP agreement.

 

They have post dated the agreement to 4 days after the date i drove away from the forecourt with the new car. I did not date my signature unfortunatley on the date it was originally agreed.

 

Does this mean it is a legally enforceable contract?

 

I couldn't have possibly completed the paperwork on the date of the agreement as i was at work 50 miles away and have proof.

 

I have never missed a payment and looked into a VT a few months ago, halfway through the term but was advised i would have to pay a few thousand to hand it back in. The vehicle is worthless now due to age and to be honest,k starting to cost in repairs.

 

Can anyone advise where i stand?

 

If requested, i can post the agreement on at a later time.

 

any help appreciated

C:confused:

[postggj]

please post the agreement minus personel details but leave in the figures

 

google photo bucket

 

use the upload link for message boards with out thumbnails option

[calshan]

Hi, I will post the copy of the agreement up once i get the scanner working.

Just a point i have noticed on another CAGer's thread which is similar.

 

I have the following three items on my agreement:

 

Acceptance fee : £195.00 (S)

Finance charges for goods : £3183.76 (T)

Option fee : £100 (U)

Charge for credit for goods (S+T+U) : £3478.76

 

 

As i understand it, this option fee of £100 is simply that, £100 payable on last payment for the retention of the vehicle or i can simply hand it back in.

This must invalidate the agreement.

If that is the case, what response should i send to Nottingham?

 

I have yet to request a copy of the CCA or SAR, should i wait?

 

Any help appreciated!

[postggj]

You Are Correct

The 100 Quid Is Just That

An Option Fee To Purchess At The End Of The Agreement

 

As Its A Charge For Credit

Interest On It Is A No No

 

Usual Welcome Con This

 

Go Get Em

[postggj]

Realy Need To See The Agreement To Confirm Interest Is Being Charged On It To Confirm

 

Post Agreement Asap

[calshan]

will try asap to post it!

[calshan]

here is part 1 of the agreement

[calshan]

part 2!

[calshan]

[calshan]

posted as requested POSTGGJ!

[calshan]

bump

[postggj]

Hi Cashlan

 

At The Moment Ime Looking At

The

 

Option To Purchess Fee (u)

 

Ime Having It Checked Out

 

If This Is A One Off Payment At The End To Purchess

 

Why Are You Paying Interest On It As Its A Charge For Credit

 

Still Checking

[calshan]

Hi Post,

 

That is my thought exactly and i see that there is another thread with a similar point - option fee is simply that, an option fee so i should not be getting charged interest on that! (but i am!).

 

I have this weekend requested a copy of the cca (postal order, template letter sent etc) and have it confirmed as signed for yesterday, so will see what comes back from Compliance.

 

Still checking my records to see what happened to the deposit as i paid more for the deposit than listed on the agreement but it was paid in cash so i can see a SAR being submitted to see what else they have on this agreement from the sign up date.

 

Your thoughts are appreciated on the Option to purchase issue!

 

Thanks

Calshan

[calshan]

bump!

[calshan]

Had a copy of my agreement sent through after sending a cca request.

As a result, contacted Welcome.

Had an interesting chat.

Point 1) The agreement above is the same as the one they have sent

Point 2) The deposit shown is £50 - when i queried this, they stated they have an invoice for the deposit i paid which shows £100. Question - where is the missing £50 for the deposit?!

Pount 3) When i asked what the option fee was, they stated that it is a standard fee applied to all credit agreements. I stated, as this was a HP agreement, why is there no final option to purchase fee at the end in this case. They couldn't answer this point.

Point 4) it turns out the nice salesman was actually not a Welcome Employee as he stated and as such brokered the deal through Ucan Car credit. Hence on my statement, there is a brokeridge fee of £195.

Point 5) They checked their records and stated they had returned post for my new address for 4th August 2009. Strange as i did not give them my new address until my cca request on 15th August!

Any thoughts on what to do next? Does this mean the agreement is unenforceable? If so, what is likely to happen should i challenge the agreement? It is not in arrears etc and i was told i could vt no problem providing the rac check is ok.

 

Any help appreciated

[emmilou1]

Think I saw something on another recent thread about if the amount payable on your credit agreement isn't correct then the agreement is unenforcable?

 

Obviosly the total amount payable on your agreement is wrong because they've missed the extra £50 on the deposit therefore your amount payable is £50 over.

 

This may be completely wrong I'm a newbie too so my knowledge on these things is very limited! I will see if I can find that thread.

 

good luck!

[emmilou1]

aha, found it check out the thread: Welcome Finance Loan "Agreement" Sent... particularly post number 13 (I think)

 

Anyone else think it may be relevent?

[calshan]

thanks, i will check the thread out.

Simply wanting to know where i stand and what any likely outcome will be!

New to this also so all help appreciated!

[calshan]

bumping

[calshan]

Just of note, can't recall if i mentioned this already, I went to carcraft to get the car originally, the salesman said he was from Welcome Finance though showed me nothing to confirm this. It turns out that he was from UCAN car credit and was merely brokering the deal.

Does this make any difference?

[postggj]

it does if he got a back hander and it was not confirmed to you

 

start to turn the screw

 

contact car craft and ask what commission he got from welcome

 

that will tip them off though

 

i would send car craft a sar for all info on the sale

 

dont tell them why you need it

[calshan]

I will send that off as i want the copy of the invoice for £100 which shows on my agreement as £50, Welcome have confirmed they have the £100 invoice on file!!! Also the option fee to dispute as being charged interest on this.

 

Postggj, I am confident of getting the information for the SAR, however, can you confirm what course of action i should take one the information is received, as i intend to get started.

After all, planning and preperation prevents pith poor performance!!

Simply want to be prepared

[postggj]

as i allways say

 

get all the info first

 

then check mate

 

softly softly

 

catchy monkey

[calshan]

thanks POstggj, will get the information first and post it up!

[postggj]

well done for putting the option fee in your arsenal

 

as its an option to purchess and is a charge for credit

 

interest on it is a no no

 

thats another welcome con