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MSE News: Car finance mis-selling investigation expected to find wrongdoing, regulator says
It's "improbable" that a major investigation into hidden, unfair car finance commission will find no evidence of wrongdoing, the boss of the financial watchdog behind the probe has said. It's another indicator that millions of drivers could be in line for payouts. Read the full story: 'Car finance mis-selling investigation…
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1,000,000 car finance complaints submitted since MSE’s tool launched on 6 February 2024
MoneySavingExpert.com now has 1,080,000 car finance complaint letters submitted since 6 February 2024 when its founder and executive chair Martin Lewis launched its free car finance reclaim tool. Read the full story: 1,000,000 car finance complaints submitted since MSE’s tool launched on 6 February 2024 If you haven't…
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Discretionary Commission (Black Horse)
Hi all, I'm looking for advice on what to do with my current situation. I sent off a complaint to Black Horse back in May/June 2023 regarding commission payments between them and the car dealer i had my car with, before any of this come to light in the media about the DCAs. They replied to me back then and said basically,…
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DCA letters using tool provided on site
We have used the tool on the website to generate emails to send to the various financial institutions who provided finance on our vehicles. We had agreements for 10 cars we have purchased on PCP's between 2010 and 2019. Here is the result so far. Email sent to Santander for 2 cars in my name. Response received and they…
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My DCA replies - Fiat/MINI/Honda/Toyota
So I’ve sent off several DCA template letters, and received (or not received) the following. Thought this post might help give an idea to others on what they may expect. Emails all sent February 2024 MINI - no reply whatsoever Fiat - no reply whatsoever Fenton finance - replied no DCA Toyota - had a confirmation of receipt…
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DCA
Hi all I’ve had a response from the Finance company regarding the DCA & it does state there was a one on place & my agreement meets the criteria, has anyone else had this? thanks Lisa
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car claim fortis
Hi, anyone have any luck trying to find fortis lease. ? Had a car on finance from 2009/ I do have all the paperwork, but company no more?
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PCP
I got in touch with BMW about my PCP agreement I had with my car which I have now paid off and kept the car. They emailed me with the below. I can confirm that the FCA announcement does not apply to this agreement as the FCA announcement relates to regulated Personal Contract Purchase (PCP) and Hire Purchase (HP)…
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Finance company can't find any record of my account for checking for DCA.
I took out a car loan with Welcome Finance back in 2008. Coast then took over them and now Swift Group have taken over Coast. I sent Swift the pre written email with a photo of the signed loan agreement to find out if the loan had DCA, with as much of the loan information on it. They couldn't find any record of my loan…
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Car finance claims, car company responses
I’ve made 4 claims for PCP finance agreements I,ve had and the responses I’m getting are that they can’t trace anything, is this what people are typically getting. ive given Mercedes and Toyota (2 each) registration numbers, dealer details, purchase dates, model details but they say without an agreement number they can’t…
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Volkswagen goodwill Payment
Has anyone else received a goodwill payment from Volkswagen or any other company? We received a letter for £200 goodwill payment but I don’t want it to go against me if I accept it as we are hoping for a discretionary commission interest refund as ours was over 11% interest. Anyone accepted the money? It also says in the…
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Audi Finance Gesture of Goodwill Payment
Out of the blue, I received a letter from Audi Finance (coincidentally after I submitted my letter template regarding commission and interest rates on agreements!) offering me a payment of £100 as a gesture of goodwill, which they say is compensation for a failure of good customer service! This is highly suspicious, and I…
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No responce from VW in over 2 months - discretionary commission
Hi All, I have had 3 agreements with VW finance, 2 PCP's and 1 HP. I completed the email and sent it to VW back in Feb and had the automated response below but haven't had a reply since. Given is longer the 28 days they said they would reply and longer than the 28 days I asked for a reply what is the next steps? should I…
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Mobilize Financial Services - no commission paid
Had finance for a Nissan via Mobilize Financial Services, then by another name. They are saying that no commission was paid, so there is no claim. Anyone else had the same response? Was that the norm for Nissan dealers around 2016?
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VW Response
Sent the draft emails with agreement numbers listed and received the below response from VW. Is this just a stalling tactic? They have all of this info from the Agreement number / some of it from the email. Thank you for contacting us. Before we are able to answer your query it is normal for us to ask a few security…
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Car finance campaign
Hi, I have used the template provided by MSE to contact a couple of car finance companies and I am having rather a lot of trouble! The latest one has come back and told me that the company they used to use was taken over by Raphaels Bank, yet I have read that Raphaels has closed down now. I am not sure where to go from…
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Renault/Mobilize - Recent DCA response and help...
Hello, So I have just had confirmation back from 2 vehicles I had through Renault. My first vehicle is confirmed to have meet the criteria and my 2nd vehicle hasn't. What I would possibly like some help with is the following statement on my first vehicle, 'We can also tell you that an additional commission payment was also…
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Can I reclaim for a previous policy if I have an existing policy with the same provider?
I am looking at using the car finance reclaim tool for a car finance agreement I had with VW Financial Services that was taken out in 2015 (paid off by 2019). However I have an existing car finance agreement with the same provider for a car I purchased in November 2023. Could this cause problems for me if I sent the…
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Car finance
Hi all Wonder.if anyone can help So I had car finance with Carlyle finance and I want to enquire with them about the mis sold car finance that was on Martins show last night. However I haven't got any paperwork and I cannot find any company details or email.address for them online anywhere. Can anyone help please? Thank you
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GMAC UK Plc
Watched Martin Lewis show last night - really good - particularly the bit about reclaiming interest costs on car loans which may have been over charged. I had Finance a while ago with a Company called GMAC UK Plc who financed a Vauxhall vehicle I purchased. Unfortunately, cannot find their details - does anyone know if…
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Problems contacting RCI/Mobilize regarding DCA
Hi all. So I tried to contact RCI, now Mobilize, regarding a care Hire Purchase agreement I had with them that I settled around 2021 to see if they applied one of these discretionary commission agreements to it. However, has anyone had any problems contacting them via the email address the DCA letter tool has for them? The…
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Vauxhall Finance - Unsure How to Proceed Next
Hi All, I took a finance agreement out with Vauxhall Finance in 2010. I don't have the agreement number but I did give them the vehicle registration. I have received the following response this morning and unsure how to proceed. Anyone else had similar response? "Thank you for your email dated 7th February 2024 asking for…