Single Premium Payment Protection Insurance

Bloody rip off two years into my contract I have to pay a grand to cancel the policy. The good news is that I have 6 months to pay it off, and if they don't then they will call in the Debt Agencies nuking my credit rating..........................

NEVER EVER TAKE OUT A CAR LOAN WITH THE FOLLOWING

ACF FINANCE

THE FUNDING CORPORATION

they are a bunch of leagalised loan sharks.

Innitiated a complaint against them and letter to mp mpre details to follow........

Concept Car Credit..... Sub Prime Market

Concept Car Credit are one of a number of companies that specialise in giving car credit to folk like me who have a dodgy credit history. My poor credit history is completely and utterly my fault and I accept that this means that I will find it more difficult to get credit and that when I do I will have to pay more interest. In the last 5 or 6 years I have paid off in full approximately 15 t0 20 grand of personal debt, without resorting to IVA's or Bankruptcy so basically every penny I have ever borrowed has been paid back with interest.

This year the car I had had for 10 years and 90,000 miles died on me to much sadness, especially when it came to sorting our Car Finance, my credit rating has not moved far from the sub prime sector, dispite the efforts I have put into rebuilding it, so I started ringing round the blocks to see who would be willing to give me a go. Welcome Car Finance were the first who point blank refused me, there were another couple who were up front about the APR they charged and I immediately said no.

This is where Concept Car Credit came into the picture, after a couple of calls they had accepted me, and I asked over the phone whet the APR was they said that because of my credit rating it would be 7 to 12 %, fan-bloody-tastic I said.

So off to the showroom I went and from my experience this is what I should have done :-

1. Ask what the actual price of the cars I was shown
2. Ask to see logbooks, service records and user manuals
3. Refused to sign up for Mechanical Breakdown Insurance it is a waste of money
4. Checked the conditions of the tyres 2 of which on the car I bought were almost at the legal limit and one had a puncture, but you don't expect to leave a dealer with old tyres now do you.
5. Checked the taxation class of the car, I have been driving around for nearly two months with a Tax disk that is wrong!!!!!!
6. DOUBLE CHECKED WHAT THE ACTUAL APR WAS!!!!!!!!!

Number 6 there is really important why? because what I was quoted over the phone was the AER not APR, and there is a big difference, despite me repeating the question What is the APR? oh 7 to 12 % can you confirm that is the APR? and finally asking the question So you are telling me the APR is 7 to 12%........

Now whether or not Concept Car Credit deliberately misled me and kept me in the dark about what I would actually pay interest wise I cannot answer, but as I now owe them a rather large sum of money I am not willing to say that they did just in case they come round my door, nah I have hopefully learned from this experience a rather painful lesson and that is when entering into any finance agreement you need to ask the question......

HOW MUCH AM I PAYING FOR THE FINANCE IN REAL TERMS?

And something I knew I should have done from the start when buying a car from a dealer always be willing to walk away from the deal at any point.

Finally Concept Car Credit and their ilk have sent the motor trade back 20 odd years, and if you need a car but can't get credit, buy an old banger for 500 quid and run it into the ground, cause it is much cheaper in the long run......................