Car finance contracts
#1
Car finance contracts
A few days ago i bought a new car in Melbourne 50% deposit and the rest on finance. I took in my identification including visa (2 yr 457 visa) and drove away in a new car being paid over 4 years. Now the finance company want me to sign a new contract agreeing to pay over the 2 years my visa runs for.
Please tell me if i've got this wrong but if they agreed for me to pay the car over 4 years and we have a contract saying so surely they can't make me sign a new contract over 2??
I'm not planning to do a runner after 2 years and hope to be permanent well before then but i want to knowq where i stand.
Thanks Mandy
Please tell me if i've got this wrong but if they agreed for me to pay the car over 4 years and we have a contract saying so surely they can't make me sign a new contract over 2??
I'm not planning to do a runner after 2 years and hope to be permanent well before then but i want to knowq where i stand.
Thanks Mandy
#2
Re: Car finance contracts
Originally posted by Mandyisere
A few days ago i bought a new car in Melbourne 50% deposit and the rest on finance. I took in my identification including visa (2 yr 457 visa) and drove away in a new car being paid over 4 years. Now the finance company want me to sign a new contract agreeing to pay over the 2 years my visa runs for.
Please tell me if i've got this wrong but if they agreed for me to pay the car over 4 years and we have a contract saying so surely they can't make me sign a new contract over 2??
I'm not planning to do a runner after 2 years and hope to be permanent well before then but i want to knowq where i stand.
Thanks Mandy
A few days ago i bought a new car in Melbourne 50% deposit and the rest on finance. I took in my identification including visa (2 yr 457 visa) and drove away in a new car being paid over 4 years. Now the finance company want me to sign a new contract agreeing to pay over the 2 years my visa runs for.
Please tell me if i've got this wrong but if they agreed for me to pay the car over 4 years and we have a contract saying so surely they can't make me sign a new contract over 2??
I'm not planning to do a runner after 2 years and hope to be permanent well before then but i want to knowq where i stand.
Thanks Mandy
If they now deem you a high risk its to late.
was it a HP loan or a personal loan ?
#3
It says in the contract that the loan is secured against the car so i think that makes it HP??
The finance woman is meant to becoming to my house in the morning for me to sign a new contract but surely if i don't sign they can't take the car because i haven't broken my contract or can they??
The finance woman is meant to becoming to my house in the morning for me to sign a new contract but surely if i don't sign they can't take the car because i haven't broken my contract or can they??
#4
Re: Car finance contracts
Firstly i'm no lawyer and just looking at it from my view point.
I thought you had signed a legally binding document that entitles you to pay back the loan over a 4 year period.
If they made the mistake its their fault they have to live with it.
I wouldnt sign anything tomorrow and would say I will let my solicitor give it the once over.
You may need to take legal advice over it.
TT
I thought you had signed a legally binding document that entitles you to pay back the loan over a 4 year period.
If they made the mistake its their fault they have to live with it.
I wouldnt sign anything tomorrow and would say I will let my solicitor give it the once over.
You may need to take legal advice over it.
TT
Originally posted by Mandyisere
A few days ago i bought a new car in Melbourne 50% deposit and the rest on finance. I took in my identification including visa (2 yr 457 visa) and drove away in a new car being paid over 4 years. Now the finance company want me to sign a new contract agreeing to pay over the 2 years my visa runs for.
Please tell me if i've got this wrong but if they agreed for me to pay the car over 4 years and we have a contract saying so surely they can't make me sign a new contract over 2??
I'm not planning to do a runner after 2 years and hope to be permanent well before then but i want to knowq where i stand.
Thanks Mandy
A few days ago i bought a new car in Melbourne 50% deposit and the rest on finance. I took in my identification including visa (2 yr 457 visa) and drove away in a new car being paid over 4 years. Now the finance company want me to sign a new contract agreeing to pay over the 2 years my visa runs for.
Please tell me if i've got this wrong but if they agreed for me to pay the car over 4 years and we have a contract saying so surely they can't make me sign a new contract over 2??
I'm not planning to do a runner after 2 years and hope to be permanent well before then but i want to knowq where i stand.
Thanks Mandy
#5
Re: Car finance contracts
Originally posted by Mandyisere
A few days ago i bought a new car in Melbourne 50% deposit and the rest on finance. I took in my identification including visa (2 yr 457 visa) and drove away in a new car being paid over 4 years. Now the finance company want me to sign a new contract agreeing to pay over the 2 years my visa runs for.
Please tell me if i've got this wrong but if they agreed for me to pay the car over 4 years and we have a contract saying so surely they can't make me sign a new contract over 2??
I'm not planning to do a runner after 2 years and hope to be permanent well before then but i want to knowq where i stand.
Thanks Mandy
A few days ago i bought a new car in Melbourne 50% deposit and the rest on finance. I took in my identification including visa (2 yr 457 visa) and drove away in a new car being paid over 4 years. Now the finance company want me to sign a new contract agreeing to pay over the 2 years my visa runs for.
Please tell me if i've got this wrong but if they agreed for me to pay the car over 4 years and we have a contract saying so surely they can't make me sign a new contract over 2??
I'm not planning to do a runner after 2 years and hope to be permanent well before then but i want to knowq where i stand.
Thanks Mandy
Don't sign but as TrickyTree says, you might need to take legal advice.
Good luck!
#6
Is the car brand spanking new (ie straight out of the showroom)?
If so, you could always tell them their terms are unacceptable, and tell them to take the car back and give you a full refund.
They will then be facing a huge depreciation on the car and may decide to reconsider their actions.
If so, you could always tell them their terms are unacceptable, and tell them to take the car back and give you a full refund.
They will then be facing a huge depreciation on the car and may decide to reconsider their actions.
#7
Don't sign the contracts. You have the car already, which means they've either stuffed up or they're looking at taking you for a ride somehow. Either way, it's their problem.
#8
Read the contract carefully (or post it up here, I'm no lawyer by the way) to determine what action can be taken on either side if any.
I too could only get car finance within the duration of my visa.
I too could only get car finance within the duration of my visa.