Close Motor Finance

[rinefitz]

Hi my husband has a car on HP with Close Motor Finance. We were hoping to settle the account as we need a new car due to expanding family etc and believed there to be just over £1500 left to pay on it (15 months left on account). Well the settlement statement came today and it us £2771.57. Thats including £551.62 of charges.... I knew this would happen as several times my husband has been late with his payments but generally we are talking days late not months! Do these charges get held against the car, ie: if we wanted to settle at £2,200 and pay the charges separately is this allowed?? Thanks for any advice in advance

[shopaholic2008]

just bumping you up :confused:

[rinefitz]

Anyone?? Thanks

[standupguy]

Charges and fees have been added to your account and possibly some without your knowledge.

They try and put a fee on your account for every phone call when you are late with a payment and this can be £25 a time which is way in excess of the actual costs to the company and therefore unfair.

I am sure they will delete any unfair charges as they are FSA authorised and have signed up to "treating customers fairly" - which is one of the 11 basic principles for regulation by the FSA.
Firms can be fined for not treating their customers fairly.

I would telephone their Head Office on 01302 646464 and ask to speak the Legal and Compliance Manager.

State that you "wish to make a formal complaint about the charges and you are prepared to take this complaint to the Financial Ombudsman if required."

They have a period of up to 8 weeks to deal with your complaint but will deal with very promptly as you will see.

Tell them you believe the charges to be unfair and not in accordance with the FSA principle of "treating customers fairly" and ask for a full breakdown of the date and amount of each charge or fee as each can then be contested

To get a quick result I would make a full and final offer to them to settle this complaint at say £1650 - I think they will accept your offer

good luck and let us know how you go on!