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HFC Bank / Ford Car Credit - Charges & PPP


jooshy
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Hope this is in the right forum, took ages looking for a car finance/hfc forum!

 

I've got a Fiesta on finance with Ford card which has been open and being repaid for the best part of 3yrs now. The repayment date is the 1st of the month, which is a total pain in the arse for me as my payday is the 20th. I have explained this to them on numerous occasions and asked them to move the due date for me or make some sort of arrangements as i cannot always make the payment on time. They have always refused and keep slapping me with a £25 late payment fee every other month for missing my monthly payment of £138.65 by a few days despite my efforts to address. The late charges total to £175 and i would like to do something about reclaiming these if possible as i have around £3,100 left on my credit and am trying to tie it up asap without overpaying.

 

Also while looking at my annual statement from Ford i noticed some interesting figures in the statement. When i took out the car they told me that the car (05 Fiesta ZS) was £8,000, and a part-ex for my old Saxo of £2,000 - so my credit agreement was according to my contract is £5,900 - amount repayable with apr of 16.9% is apparently £8,539?? YET my statement and contract for total amount repayable is £10,634!? Looking through the fine print it says that there is a charge for credit of £2,419? What the hell is this?

 

If necessary i will scan docs to help my case further. Please help as i am under the impression that this £2k charge is ridiculous, and should pretty have my car paid off!

 

Help please!

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Hi Jooshy , welcome to the forum ..... :-)

 

You're on the right forum as far as the Bank is concerned .......

 

if you are able to pop into your local branch why not put them on the spot ...... if they won't adjust your payment date , then tell them you'll move your account to a bank that will ........

 

If you're not able to pop in... write to their complaints dept and tell them the same .

 

As for the other question , why not write or phone the Finance company and ask them for a full breakdown of how they arrive at your total repayment liabliity ...ask them to explain this apparent hidden charge of £2000+ .... they have to tell you .

 

Don't forget to send any letters 'Recorded Delivery' so you can track their receipt ......

 

PS : you could also post your second query (ref repayment terms ) in :

 

http://www.consumeractiongroup.co.uk/forum/forumdisplay.php?56-General-Consumer-Issues

Edited by johnnymitch

Nemo me impune lacessit

 

 

Advice & opinions given by johnnymitch are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

 

If you think I've helped you please feel free to tickle my star :-D

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