I just signed a contract for loan with a vehicle financier for the purchase of a used car. However, a few points in this contract that seem to me unfair. In this way i'll nominate some points of this contract:
Amount of credit for the goods.....£2500(Agreed)
Amount of credit for the Insurances.....£1097.67(Unfair in my opinion)
Total amount of Credit....£3597.67
Duration fo the agreement....48 mths
Total amount amount payable for the goods.........£4691.40
Total amount payable for the insurances....£1668.46(Unfair in my opinion)
Total Amount payable...£6359.86
Payment Protection Insurance........£747.67(My request)
Shortfall extra Insurance...£350.00(Unfair in my opinion)
Payment Monthly...£120.10
APR 29.33%(I am told that this APR is due to my credit score, I do not know in what grounds were based or how can I confirm)
Cash price goods....£2995.00(i agreed)
Total cash price of insurance...£1097.67(Unfair in my ipinion)
Total cash price....£4092.67
Deposit cash....£495
Total deposit...£495
Acceptance fee...£195(Why?)
Finance charges for goods.......£1401.40(Why? Unfair in my opinion)
Option Fee.....£100.00(Why?)
Charges for credit for goods....£1696.40(Why?Unfair in my opinion)
Charges for credit for insurances....£570.79(why? unfair in my opinion)]
Total charges for credit.......£2.267.19
rate interest on credit 13%(nobody told nothing about this)
I would like to know, if I have any chance to discuss any of these points with the company to reduce the financial burden, and on what basis do I argue my position.
Thank You
Paulo