Motor finance commission enquiry

Oscar1942

I tried to use Volkswagen Financial Services own form to submit a claim but it was useless as it hung when trying to send twice. Used Martin’s proforma and got an instant acknowledgment from VWFS, well done Martin

dunstonh

Used Martin’s proforma and got an instant acknowledgment from VWFS, well done Martin

Why Martin?  Resolver was founded by James Walker.   

MyFavPurple

This is what VOLKSWAGEN FINANCIAL SERVICES sent me. Could they be lying and how can I be sure this is a honest statement.

“We’ve investigated and can confirm that a discretionary commission arrangement was not used on your agreement.”

has anyone else had this response and found it not to be true? 

BoGoF

MyFavPurple said:

This is what VOLKSWAGEN FINANCIAL SERVICES sent me. Could they be lying and how can I be sure this is a honest statement.

“We’ve investigated and can confirm that a discretionary commission arrangement was not used on your agreement.”

has anyone else had this response and found it not to be true? 

Seriously? 

Unless you have evidence to the contrary move on. Most agreements did not have DCA.

No pay day for you.

Nasqueron

MyFavPurple said:

This is what VOLKSWAGEN FINANCIAL SERVICES sent me. Could they be lying and how can I be sure this is a honest statement.

“We’ve investigated and can confirm that a discretionary commission arrangement was not used on your agreement.”

has anyone else had this response and found it not to be true? 

Many people will have had the response
Nobody will have any way of knowing it wasn't true (commission does not have to be disclosed)

The FCA fined Clydesdale bank £20m for lying about PPI data, VW are highly unlikely to want to be paying yet another fine after all the rinsing they got from ambulance chasers over the diesel emissions issue 

dunstonh

This is what VOLKSWAGEN FINANCIAL SERVICES sent me. Could they be lying and how can I be sure this is a honest statement.

Do you have any evidence to support your allegation that they could be committing fraud?
Do you know the consequences to a financial services company that knowingly does that?

“We’ve investigated and can confirm that a discretionary commission arrangement was not used on your agreement.”
has anyone else had this response and found it not to be true? 

most have had that response but not a sole would have found it not to be true.  What a bizarre thing to ask.

DullGreyGuy

Nasqueron said:

MyFavPurple said:

This is what VOLKSWAGEN FINANCIAL SERVICES sent me. Could they be lying and how can I be sure this is a honest statement.

“We’ve investigated and can confirm that a discretionary commission arrangement was not used on your agreement.”

has anyone else had this response and found it not to be true? 

Many people will have had the response
Nobody will have any way of knowing it wasn't true (commission does not have to be disclosed)

The FCA fined Clydesdale bank £20m for lying about PPI data, VW are highly unlikely to want to be paying yet another fine after all the rinsing they got from ambulance chasers over the diesel emissions issue 

Assuming the FCA find a systemic problem, and there is no guarantee that they will, then it's likely they will require a redress programme to be put in place which will include oversight, sampling etc. The regulators missed the whole PPI thing which is why it turned into the !!!!!! it did rather than having a redress programme 

Hoenir

DullGreyGuy said:

Nasqueron said:

MyFavPurple said:

This is what VOLKSWAGEN FINANCIAL SERVICES sent me. Could they be lying and how can I be sure this is a honest statement.

“We’ve investigated and can confirm that a discretionary commission arrangement was not used on your agreement.”

has anyone else had this response and found it not to be true? 

Many people will have had the response
Nobody will have any way of knowing it wasn't true (commission does not have to be disclosed)

The FCA fined Clydesdale bank £20m for lying about PPI data, VW are highly unlikely to want to be paying yet another fine after all the rinsing they got from ambulance chasers over the diesel emissions issue 

Assuming the FCA find a systemic problem, and there is no guarantee that they will, then it's likely they will require a redress programme to be put in place which will include oversight, sampling etc. The regulators missed the whole PPI thing which is why it turned into the !!!!!! it did rather than having a redress programme 

An era of light touch regulation that extended well beyond PPI.  

Nasqueron

DullGreyGuy said:

Nasqueron said:

MyFavPurple said:

This is what VOLKSWAGEN FINANCIAL SERVICES sent me. Could they be lying and how can I be sure this is a honest statement.

“We’ve investigated and can confirm that a discretionary commission arrangement was not used on your agreement.”

has anyone else had this response and found it not to be true? 

Many people will have had the response
Nobody will have any way of knowing it wasn't true (commission does not have to be disclosed)

The FCA fined Clydesdale bank £20m for lying about PPI data, VW are highly unlikely to want to be paying yet another fine after all the rinsing they got from ambulance chasers over the diesel emissions issue 

Assuming the FCA find a systemic problem, and there is no guarantee that they will, then it's likely they will require a redress programme to be put in place which will include oversight, sampling etc. The regulators missed the whole PPI thing which is why it turned into the !!!!!! it did rather than having a redress programme 

Oh for sure, I was just saying it's incredibly unlikely VW would deliberately lie about someone not having a DCA agreement when they did, knowing the risk of fines, regardless of any redress program

Hoenir

Nasqueron said:

DullGreyGuy said:

Nasqueron said:

MyFavPurple said:

This is what VOLKSWAGEN FINANCIAL SERVICES sent me. Could they be lying and how can I be sure this is a honest statement.

“We’ve investigated and can confirm that a discretionary commission arrangement was not used on your agreement.”

has anyone else had this response and found it not to be true? 

Many people will have had the response
Nobody will have any way of knowing it wasn't true (commission does not have to be disclosed)

The FCA fined Clydesdale bank £20m for lying about PPI data, VW are highly unlikely to want to be paying yet another fine after all the rinsing they got from ambulance chasers over the diesel emissions issue 

Assuming the FCA find a systemic problem, and there is no guarantee that they will, then it's likely they will require a redress programme to be put in place which will include oversight, sampling etc. The regulators missed the whole PPI thing which is why it turned into the !!!!!! it did rather than having a redress programme 

Oh for sure, I was just saying it's incredibly unlikely VW would deliberately lie about someone not having a DCA agreement when they did, knowing the risk of fines, regardless of any redress program

Won't be just one person though. There'll be many with similar contractual agreements that were underwritten in a similar fashion over a period of time.  Head them off at the pass so to speak.