Hi,
Just had a thought, if I was to pay the deposit for a car in a normal visa credit card, say 1000, and then pay the rest off using a loan, would I be visa protected for the 1000 used or the whole amount?
Dave
Hi,
Just had a thought, if I was to pay the deposit for a car in a normal visa credit card, say 1000, and then pay the rest off using a loan, would I be visa protected for the 1000 used or the whole amount?
Dave
the whole amount
HTH
tim
It doesn't seem logical.
On a slightly different note;
I'm curious why credit agreements for vehicles don't appear to infer the normal joint liability for faulty goods.
It'd be interesting to see the EU default implied two year warranty for other goods (AIUI) - and stretching to a maximum of six for a claim - applied to cars with a one year warranty.
I assume the total cost is less than 30K...
Agreed.
"PeterSaxton" wrote
That's the law for you!
Agreed, it doesn't. You will note that this was one of the arguements that the companies put to the HoL when they were argueing against them having liability abroard, possibly in an attempt to have liabiliy restricted only to the amount paid by card. They lost.
tim
At 00:01:57 on 25/11/2007, Colin Wilson delighted uk.finance by announcing:
Because, being inanimate objects, they're unable to infer anything?
Pedantry aside, one of the main benefits of hire purchase, for instance, is that the HP company is jointly liable.
I don't believe you understand it correctly. Warranties are offered by manufacturers in addition to your statutory rights (e.g. SoGA) and they can impose their own conditions.
That answers why, for cars, HP arrangements are preferable to non-HP credit agreements *given* that the latter don't come with implied joint liability of the lender.
It doesn't answer the question why that is given.
At 12:10:11 on 05/12/2007, Ronald Raygun delighted uk.finance by announcing:
You haven't confirmed exactly what type of agreement you're talking about. If it's an unsecured personal loan then there is no liability.
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