I attempted to lodge a formal complaint today but get a server error
I paid additional funds into my Vehicle Finance loan and paid the said loan off at the end of July - I was sent details of my loan payments and noticed that the additional money paid in was not taken off the capital but left to in the account until I phoned in thereby not being of a benefit to myself in reduction of interest - this is despite me giving instructions when I phoned in that every time I pay additional funds this should be taken off my capital.
I requested that this be recalculated which was then recalculated independently of my loan at a rate of 6.4% -much less than the interest rate I paid to BMW Finance.
In addition I have requested a copy of my signed agreement for the said loan, proof of my acceptance of a fixed rate of interest and the rate thereof, and proof that I agreed to a lesser interest rate for moneys paid into my loan - i.e. 6.4%.
It took 48 hours for BMW Finance to provide the first recalculation - ticket logged on 02/08/2013 - reply received 12/08/2013, it has now taken another 48 hours to try and get a response to my mails for which I have to continually phone and mail.
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