Youngin's watch your APR

[shezz]

My boy brought his first car on HP from a dealer's

Credit was for 3 years, brought it about 18months ago.

Britanian Finance (he's lender) is no more and another company brought his dept,

He received a letter stating this and showed me.

I went mental

Deposit of 800.00 was paid which left 1500.00 for finance

APR 33% plus all other charges

Phoned up for a settlement figure and he still owes 1100.


Please watch your APR

Too late for him, if your gonna get anykind of finance ask someone that knows

[dragonmist]

One of my daughters bought a £4,000 car on finance. She was given a part exchange of £750 for her old car. Therefore she "borrowed" £3,250 over 3 years. She actually repaid almost £8,000. I don't know what the interest rate on that worked out at but "Shylock" and "pound of flesh" spring to mind
Disclaimer.... in case someone decides to be picky and Politically Correct ... I was quoting Shakespeare, not intending it as an anti semitic comment..