We've been looking at buying a car and was given the following amounts from the car dealer.
Amount of credit: £4,280
Cost of credit: £1,547.24
Interest: £1,198
Here is the actual agreement to show the breakdown: (personal details removed)
http://i.imgur.com/5IjJcZqh.*** and http://i.imgur.com/lPAcNDBh.***
We were quoted £121 a month and was told that was for the car and intrest on the finance. Not once were we told of this "cost of credit."
Stupidly I signed the agreement because I didn't think this would have been added and now feel sick.
Are the numbers actually any good though?
Amount of credit: £4,280
Cost of credit: £1,547.24
Interest: £1,198
Here is the actual agreement to show the breakdown: (personal details removed)
http://i.imgur.com/5IjJcZqh.*** and http://i.imgur.com/lPAcNDBh.***
We were quoted £121 a month and was told that was for the car and intrest on the finance. Not once were we told of this "cost of credit."
Stupidly I signed the agreement because I didn't think this would have been added and now feel sick.
Are the numbers actually any good though?
