IMPORTANT! This is MoneySavingExpert's open forum - anyone can post

Please exercise caution & report any spam, illegal, offensive, racist, libellous post to

  • Be nice to all MoneySavers
  • All the best tips go in the MoneySavingExpert weekly email

    Plus all the new guides, deals & loopholes

  • No spam/referral links
or Login with Facebook
BMW Financial Services and PPI
Views: 2,732
Thread Tools Search this Thread Display Modes
# 1
Old 07-08-2012, 12:14 AM
MoneySaving Newbie
Join Date: Aug 2012
Posts: 1
Default BMW Financial Services and PPI

I have put in a complaint to BMW Financial services as I was advised by the sales person that I would have a better chance of being accepted for the finance deal if I took out the PPI. I included my signed purchase agreement with my complaint which clearly outlined I had PPI.

BMW Financial Services have responded acknowledging I have PPI but state that "you may not be aware that for claims in contract, the cause of action accrues on the date of the breach of contract and a six year limitation period runs from this date. The agreement commenced in May 2003, so any alleged misselling would have taken place on or before this date, therefore the limitation has expired."

They suggest that if I want to pursue this complaint that I should contact the dealership and that I may not have the right to refer this to the Financial Ombudsman?

Has anyone else had this experience and what can you advise?

Many thanks
pfelw is offline
Reply With Quote Report Post
# 2
Old 07-08-2012, 9:43 AM
Fantastically Fervent MoneySaving Super Fan
Join Date: Aug 2007
Location: Berkshire
Posts: 7,642

That is correct - you complain to the dealer but will only be able to go to FOS if the dealer subsequently became directly regulated by the FSA.
I run a consultancy to help Independent Financial Advisers to comply with their rules and resolve complaints. Although I am qualified to, I don't advise consumers for reward.
magpiecottage is offline
Reply With Quote Report Post


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

 Forum Jump  

Contact Us - - Archive - Privacy Statement - Top

Powered by vBulletin® Copyright ©2000 - 2015, Jelsoft Enterprises Ltd.

All times are GMT. The time now is 11:26 PM.

 Forum Jump  

Free MoneySaving Email

Top deals: Week of 25 February 2015

Get all this & more in MoneySavingExpert's weekly email full of guides, vouchers and Deals

GET THIS FREE WEEKLY EMAIL Full of deals, guides & it's spam free

Latest News & Blogs

Martin's Twitter Feed


Cheap Travel Money

Find the best online rate for holiday cash with MSE's TravelMoneyMax.

Find the best online rate for your holiday cash with MoneySavingExpert's TravelMoneyMax.

MSE's Twitter Feed