We bought a new car with cash... the salesman wasn't happy and thanks to the finance scandal, I know why: LEE BOYCE

In 2018, my then pregnant wife and I decided we needed to upgrade the trusty, but small Ford Fiesta, for something bigger that would meet the rigours of our new everyday family life.

We strolled into the dealership after much research and sat down to build our perfect model, with little luxury touches, like a leather interior, heated seats and a kick-boot, like proper middle-class adults.

The salesman was friendly and helpful… until close to the end of our transaction. For whatever reason, the most crucial part of the sale had not been discussed – how we were paying for the £28,000 car.

It was presumed by said salesman that we would put down a deposit, make monthly payments for three years, then either hand it back or make a balloon payment.

And I do get it. Finance is how most cars are 'bought' in this country, because finding a five-figure sum of money is not exactly easy.

But I've never liked the idea of being on a constant hamster wheel of returning a car after three years, getting a new one, being in an endless trap with the manufacturer.

We'd saved hard for the car, topped up alongside a lump sum my wife had, with the idea being, we'd have it for at least 10 years as we'd look after it (we're seven years and 60,000 miles in – we've never had a major problem).

We're also not flashy in the least – we're not bothered by material things, and just wanted a safer, bigger car, that's reliable and would suit a growing family.

My thought process: that's £2,800 a year, or £233 per month for a decade to own the car, and that's excluding what we eventually get back for selling it on, which will shave a good chunk out of the above calculation.

So back to the dealership. We said we were cash buyers, could we have a discount? And I can still picture his face dropping.

He tried to persuade us to take finance, stating that the value of the car will drop as soon as we drove it off the forecourt.

It's a funny business buying a new car isn't it – where else in life are we told an item will lose a chunk of value a minute after owning it?

We were insistent. He was insistent. And I remember coming away thinking: 'I wonder if he would earn commission on a cash sale, like he would car finance?'

What has transpired since from the car finance scandal is... probably not. He was clearly upset we'd decided not to finance the car through the in-house lender and his whole demeanour changed.

As mentioned, I know we're in the minority here, not many can afford to fork out such a large sum upfront.

But it highlights to me how rife pushy salespeople trying to squeeze as much money out of buyers on personal contract purchase (PCP) and hire purchase (HP) deals probably was.

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We've now had the Supreme Court ruling on 'mis-sold' car finance deals. As many as 6.6million people unwittingly signed up to a discretionary commission arrangement (DCA) between 2007 and 2021 – where they paid more in loan interest than they should have done, in a ruse which bumped up the commission salesmen could earn.

What we can learn from this is: keep all paperwork, read contracts and terms and conditions with a fine-toothed comb, and never expect a salesperson to act in your best interest.

There are also other ways to finance a car, such as taking out a personal loan, so it's vital to assess all options, not just be smooth-talked into an option that suits a company more than you as the customer.

If you think you may have been unfairly treated, ignore the claims management firms and read this instead: How to work out if YOU can claim £950 from the car finance scandal - and what to do if you can't find the paperwork

It appears this kind of behaviour was rampant for more than a decade and while it won't lead to the £44billlion worst-case scenario payout for lenders, it is still expected to cost them a huge £18billion.

If you bought a car on finance in those 14 years, it is quite likely you paid more than you should have.

Buying a car outright worked for us. It might not for you, but fingers crossed we'll have it for another 10 years, with one careful owner – and no shady underhand commission tactics lurking under the bonnet.

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