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Missing contract terms, wrong amount of credit and now they slap a default on me!!!


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Hi All,


Getting a bit stressed on this one, seems like they always have the upper hand. I've posted bits about this in two other sections but I guess I need to put all the problems into one post and decide the best way forward.



I have a car on HP. Broker put the deal together for the finance company in 2008.

Within 14 days of signing the paperwork I noticed that the purchase price of the car was incorrect by £1300. It should have said £4200 but instead the agreement was set up for £5495. I raised the issue with the finance company but they said it's the brokers problem to solve. I've gone back and forth with the broker for the last 4 years with no success what so ever. I have an invoice for the car to prove the price should have been £4200.


I recently attempted to send the car back (as you can with a HP agreement) but was told I would still have to pay the full amount of loan (another £4000 left to pay) as they had already terminated the agreement 2 years ago. I knew nothing about this. Never received a termination notice and I do not have a default on my credit file relating to any termination in the past. Plus I still have the car and receive letters from time to time reminding me of my right to terminate???


When I found out about the termination I went back to check the terms in the paperwork and discovered that when the broker emailed the agreement to me, they forgot to add 3 pages of the terms and conditions.


So, I have a signed HP agreement which states the wrong purchase price by £1295 too much, 3 pages are missing from the terms and finally I have lost the option to give up the vehicle and walk away as the finance company claim they terminated 2 years ago even though I never received the termination notice or default notice nor did they report a default to the CRA's


I am now expected to pay them another £4000 cash despite already handing over £7000 for a £4200 car.


I have written to them recently to complain and they have subsequently wacked a default on my file as of the 9th September in retaliation.







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Hi GG,


Nope, no talk of a deposit at all.


Never discussed during the sales process, nothing via email and nothing anywhere on the paperwork. The broker does not require a deposit. They provide you with credit and then you find a car at any garage of your choice - they simply pay the garage direct once the deal is done. No trade in either.


This is a simple mistake on the paperwork and the reason why it happened is that originally the car was for sale at £5495. However, about two days after finding the car the garage had a sale and reduced the price of the vehicle so it was perfect timing to make the purchase. The broker simply forgot to change the paperwork to reflect the offer and I didn't notice at the time. Both parties made a mistake - the broker for not updating his paperwork and me for not realising it had the original price.


I have a print screen of the garage website showing the sale price of the car and I also have a copy on the invoice showing the sale.



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  • 3 months later...

Update on this one.


I've had a final response to my complaint to the lender and as you can imagine they're having none of it.


With the incorrect purchase price on the contract and the incomplete terms and conditions they have simply referred me back to the broker as they say it's nothing to do with them. In regard to their alleged termination 2 years ago, they are standing their ground despite evidence to the contrary.


So my next option is to either consider FOS or small claims.


Key facts:

Broker and lender should both be responsible for the setting up of the credit agreement.

The agreement is void as sections 1 to 5 of the 8 terms have been omitted from the agreement.

The purchase price of the vehicle is wrong by £1295 too much.

No default notice or termination has ever been sent so if the agreement does stand I still have the option to VT.


I think I have a pretty good case - surely it cannot be decided that this agreement is flawless with so many critical errors that go to the heart of the agreement??


The car remains on my drive :-(

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