Reg Vardy PPI Claim (new member, be gentle)

Bluestyle58 wrote: »

Trying to help my partner get her PPI refunded from Reg Vardy, have searched this forum and cant see any mention of them regarding PPI mis selling.

Her reasons to claim a refund are as follows.

• your salesperson was very pushy in selling me the policy so that I felt I could not say no.
• your salesperson did not give me full information on what the policy would and would not cover.
• I am concerned the sales assistant that sold me the policy had no financial background and the policy was not sold in my best interests.
• I was only able to take out the loan for the car with my father, Mr ** *******, as guarantor, covering the loan should I not be able to make payments, therefore negating the need for PPI cover.

I had only been working in my job at that time for about 6 months, however the salesman said he would put it down as longer, in order to get the credit agreed, being my first ever loan, I knew no different

The credit deal was back in 2001, and the PPI cost amounts to over £800, so worth trying to get back in my opinion.

We have recieved a reply from Pendragon PLC, who seem to be the people that we need to claim against.

they have now replied as follows.

Having investigated your complaint, I would like to draw your attention to the following salient points:

• Your complaint relates to a product that was provided to you prior to the regulation of our industry by the Financial Services Authority in January 2005
• At the time of purchasing your vehicle from Reg Vardy PLC, the purchase of any additional products, such as the Vardycare Protection Policy, would have been entirely at your own discretion and was not in any way a compulsory element of the purchase
• The documentation issued to you at the point of sale provided a full description of the terms and conditions of the Vardycare Payment Protection Plan and therefore the full extent of the cover provided
• The acceptance form in respect of the above Plan was signed by you at the time you entered into the agreement
• The policy contains a statutory cooling-off period of 30 days, during which time the policyholder may exercise his/her right to cancel teh contract and receive a full refund of any premiums paid

In view of the above, I can only conclude that you were happy with the terms and conditions of the policy at the time it was taken out, which is further evidenced by the fact that you did not exercise your right to cancel the contract during the statutory cooling off period. As such therefore, I am unable to uphold your complaint on this occasion.

Furthermore Reg Vardy Plc was not a member of the General Insurance Standard Council prior to regulation by the Financial Services Authority and as a result I would be unable to provide you with an ongoing complaints procedure to the Financial Ombudsman Service as per our regulated complaints process.

first reply does not look too positive, but at least they have replied, and it got to the right place. So do we continue with the claim, our main reason for claiming a mis sale was that she had to have a guarantor, which covered the loan, and if so how do we lay out the second letter to them, refusing the rejection??

TY for reading all that and hope we can get some good advice here.

Hi there

Sorry to hear of this.

Unfortunately as the company were not under jurisdiction/covered by GISC where the FSA taken over in Jan 2005, the Financial ombudsman service are unable to investigate complaints if they were not covered.

However do not feel all is lost here, there are other ways around this matter, first of all you could actually try contacting the Financial leasing association (FLA), if the company was listed with them, they "may" be able to help, so here is the link for you to contact them and check them out, I would ring them as a quicker method:
http://www.fla.org.uk/fla/contact/index.jsp

If you let us know what they say we can take this matter from there.

I take it you still have the paperwork for this finance? (The agreement then)?

Cheers. Good luck.;)

Di
X

Bluestyle58 wrote: »

Trying to help my partner get her PPI refunded from Reg Vardy, have searched this forum and cant see any mention of them regarding PPI mis selling.

Her reasons to claim a refund are as follows.

• your salesperson was very pushy in selling me the policy so that I felt I could not say no.
• your salesperson did not give me full information on what the policy would and would not cover.
• I am concerned the sales assistant that sold me the policy had no financial background and the policy was not sold in my best interests.
• I was only able to take out the loan for the car with my father, Mr ** *******, as guarantor, covering the loan should I not be able to make payments, therefore negating the need for PPI cover.

I had only been working in my job at that time for about 6 months, however the salesman said he would put it down as longer, in order to get the credit agreed, being my first ever loan, I knew no different

The credit deal was back in 2001, and the PPI cost amounts to over £800, so worth trying to get back in my opinion.

We have recieved a reply from Pendragon PLC, who seem to be the people that we need to claim against.

they have now replied as follows.

Having investigated your complaint, I would like to draw your attention to the following salient points:

• Your complaint relates to a product that was provided to you prior to the regulation of our industry by the Financial Services Authority in January 2005
• At the time of purchasing your vehicle from Reg Vardy PLC, the purchase of any additional products, such as the Vardycare Protection Policy, would have been entirely at your own discretion and was not in any way a compulsory element of the purchase
• The documentation issued to you at the point of sale provided a full description of the terms and conditions of the Vardycare Payment Protection Plan and therefore the full extent of the cover provided
• The acceptance form in respect of the above Plan was signed by you at the time you entered into the agreement
• The policy contains a statutory cooling-off period of 30 days, during which time the policyholder may exercise his/her right to cancel teh contract and receive a full refund of any premiums paid

In view of the above, I can only conclude that you were happy with the terms and conditions of the policy at the time it was taken out, which is further evidenced by the fact that you did not exercise your right to cancel the contract during the statutory cooling off period. As such therefore, I am unable to uphold your complaint on this occasion.

Furthermore Reg Vardy Plc was not a member of the General Insurance Standard Council prior to regulation by the Financial Services Authority and as a result I would be unable to provide you with an ongoing complaints procedure to the Financial Ombudsman Service as per our regulated complaints process.

first reply does not look too positive, but at least they have replied, and it got to the right place. So do we continue with the claim, our main reason for claiming a mis sale was that she had to have a guarantor, which covered the loan, and if so how do we lay out the second letter to them, refusing the rejection??

TY for reading all that and hope we can get some good advice here.

I know this is a long time ago but how did you get on as I am about to try a PPI claim with Vardy Care Payment Protection Pan

Bluestyle58 wrote: »

We are tempted to ask.for some more due to all the work.and time

PPI redress is defined, it's not negotiable.
The years of waiting are redressed by the substantial extra interest you've earned.
Well done on your persistence

How do I make a claim from Reg Vardy as back in October 2005 I purchased a car and the sales man said I could not have the car if I didn't have the PPI because I needed the car I agreed to the PPI :mad: Hoping you can help thank you Chris

Reg Vardy was taken over by Pendragon PLC. Send your complaint to :

Pendragon PLC. Loxley House, 2 Oakwood Court, Little Oak Drive, Annesley, Nottingham, NG15 0DR