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Category: Law
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Experience:  Barrister at Self Employed Barrister
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We paid a final payment full amount on a car finance

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we paid a final payment for the full amount on a car finance after paying a monthly fee for three years. The company that arranged the finance has been taking a secondary fee of £900 pounds a year directly out of our business account which they claim was in the small print. I was not made aware of this at the time, is this legal. They are chasing this years payment very aggressively as they were not able to take it directly as we changed bank accounts this year. This secondary payment has been taken since 2004 so it adds up to a substantial amount. They also claim that if we sell the car they are still entitled to ten percent of the sale fee!.
This is a very odd arrangement. The starting point of course os to have a look at what the contract actually says and indeed who are parties to the contract. This will set out the arrangement and an understanding (if one exists) for this payment made by your company and this 10%. This rather sounds like a potential unfair term in a contract. You may need to contact trading standards as well. Happy to discuss. Please rate positive.
I hope that this helps - please rate positive
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