A
female
age
41-50,
anonymous
writes:ok im 25, still live at home with parents, have a full time job which doesnt pay great but i get along like we have too (my parents understand hence why i dont pay rent). I bought a car with a loan from a company, my dad said i was paying way too much and that it was lining the pockets of this company. dad took at a loan for home improvement he said he could take out an extra £10,000 to pay my car off then i could pay him back a monthly amount til it was paid off (which worked out about 5 years for the amount i was giving him. I was working out my finances today and had the shock of my life.......it works out that id be paying him back £13,200!!!!!! my dads always been as tight as a ducks arse when it came to money as long as i can remember. ive caught him out with the loan repayments too, he was involved in minor accident and has been getting them payed by the bank coz hes insured but im still paying him monthly, if i mention anything about money he'll get all uptight and we'll argue, whock i hate. he doesnt know how much it costs to run a car these days (mines essential for work), his boss pays everything for dads company car. all advise welcome.......thanks!!
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Fancy yourself as an agony aunt? Add your answer to this question! A
male
reader, Royofthe Rovers +, writes (11 April 2007):
 What a con!! What happened to doing you a favour? You would of been better off keeping the original loan, surely?
Money and family never really go hand in hand, and not if they are trying to rip the shirt off your back aswell. He is doing you no favours.
Ok. He is obviously making sure he is'nt being left short by this. When a loan is taken out there is interest to pay on it, is this more than the interest? Is it more than you were paying? If it is than question this. Phone up your previous loan company and get details regarding the same amount over the same amount of time.
I do question his motives, but he may be covering his own debts as well. I think you need to do some homework on the money your WERE owing on your loan before he took over and see where you lie then. if its more highlight this to him and just question why he did this if you are paying more.
I think you may have learnt a lesson here.
Goodluck..
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