Firm applied for more credit thaan I needed

[loneranger21]

Hi, I am not sure which section to ask this but here goes.

 

I applied to Part ex my caravan .

I needed to borrow £34120.

I hadn't heard if it had gone through

 

 

I had received a letter from my existing finance company thanking me for request of settlement figure.

So far so good

 

 

however I called the Finance company and they put me through to the new business team,

They informed me I had been accepted for the loan and the amount that had been requested was £56720 and they needed a bigger deposit.

I informed them I did not need that much and that I only needed £34k .

 

 

The dealership said they didn't know what happened and they would adjust the figures.

I heard nothing again and called the new business team who agreed the figures had been adjusted

and they had asked for £38k.Again too much.

 

I again informed the dealership and they said it had been declined

however when I informed them I had only just spoken to the finance company

and it had been accepted they said again they would look at it.

 

Bottom line is the company dealership asked for £22k more than I needed.

They have said the finance company have declined the deal which is a lie.

I have done all the chasing and they have not treated me fairly.

 

Any advice would be appreciated I am getting no where with them

[AndyOrch]

Thread moved to General Consumer Issues.

 

Regards

 

Andy

[maroondevo52]

Hi,

 

Sorry I'm not catching this I don't think.

 

Are you buying a new caravan and part exchanging your old one, how much is the new one, how much are you getting for the part exchange and how much was the settlement figure.

 

Whats happening now, are you having to keep your old caravan and continue to pay it off ?

[loneranger21]

Hi

Just to clarify.

I still have my original caravan which is a static caravan on a leisure park. I have finance on that which would have cost £14k to settle, I was P Xing that to upgrade to a new 2014 model. In order to do that I needed extra finance so by the time they took in my part x van for £20k hey would then settle the finance and this would give me £5600 over, I had 4200 deposit on top of that and also site was offering £2k incentive off the finance.

So to change my van I would have needed £34k loan. They asked for £56k and then revised to £38k so they were applying for far more than I needed.

I still have my van. The site state the loan was declined but the finance company state it has been accepted with a larger deposit. I had placed a deposit on the new van but they returned it to my account and have since sold the new caravan to some one else. They still maintain the application was declined but I have the new agreement number to show it was accepted.

Hope that clarifies. I an annoyed at three things 1 applying for far more money than I needed 2.. lack of communication and the lies 3 they sold the van to someone else.

[ericsbrother]

I would complain to the finance co about the misrepresentation and you dont want the loan as you will not be having any dealings with tyhe buch of crooks who keep abusing your trust and filing false paperwork.

Go elsewhere as fast as you can.