Anyone come across this or similar?

amandstu

So,I bought a car from a garage dealer and ,when it broke down they could not fix it.

They offered me another car as a straight swap and they wanted payment for the work they had done to unsuccessfully repair the car.

We disagreed on the cost of the repair but agreed to go ahead with the change over from the old car to the new car

So a new hp agreement was produced by the garage which I signed under the impression that it was to be a straight swap .

More than a year later I checked my bank statements and realized that the "straight swap" was a trade in price for the old and a higher price for the new car.

So the dealer got his money for the repair that was in dispute by his profit on the deal with the new car

Now I was stupid not to read the documents before signing and am not asking for advice as to how to proceed but I wonder whether anyone in this forum has come across this kind of practice ?

fryup

they wanted payment for the work they had done to unsuccessfully repair the car

was it not under warranty?

amandstu

https://www.boards.ie/discussion/comment/118488228#Comment_118488228

No .I think it had run out.

fryup

so you reckon they hoodwinked you with the hp, are they a reputable dealer or a back alley garage?

amandstu

https://www.boards.ie/discussion/comment/118490450#Comment_118490450

They have a good name,but yes that is what I think.

I suspect they thought they were not getting what they thought they should on the repair front and got bloody minded about things.

colm_mcm

Did you sign new finance papers? Did you read the papers and keep a copy?

amandstu

https://www.boards.ie/discussion/comment/118491210#Comment_118491210

Yes, a copy came in the post from the finance company soon after the beginning of the new period.

I didn't scrutinise it properly as I assumed it was just a continuation of the old agreement with the new car replacing the old at the same value.

It was only when I noticed continuing payments in my statements that I hunted it down and realised that the old car had been traded in ,the new car had been assigned a value ,with the difference being the value of the new loan

colm_mcm

I’m confused, let’s use some made up numbers,

you bought the original car for say €20k

you signed up for a 20k hire purchase, which lets say will end up costing €25k with interest

you then signed up for a new hire purchase for €25k with €20k of a trade in value, but financing 25k this time instead of €20k

that sort of thing?

amandstu

Going with your numbers the new hire purchase agreement would have the original car given a value of,say ,10K and the replacement car an assigned value of 15K.

So the new hire purchase agreement would have had me borrowing 5K (plus interest) instead of the straight swap I fondly imagined.

Make sense now?