GAP Insurance

di3004

DidsySith wrote: »

OK another update I have decided to leave the gap claim for now but have stumbled across another problem with the car loan part of it.I had purchased the car for £8000 with no PPI with a loan from the Black Horse.I have just received a 'copy' of the CCA agreement and has Cash Price of goods £9399 and PPI £0.Now I know I had only paid £8000 for the car and am now wondering what the other £1399 is for (not warranty or anything like that).As I put a cash deposit down for £370 the original loan should of been for £7630 and not £8000 or even as the CCA claims £9399.Now I am hunting high and low for my copy of this agreement as either Black Horse or Carland have cooked the figures somewhere!!!!!!!!!!! I shall post a scan of the agreement up here.

Ok read through again and they have taken the £370 of the original loan amount but it is still £9029!

Wonder if they can supply you with any copies of statements, and detailed written breakdowns?
Maybe worth asking them, good luck.;)

DidsySith

They have supplied a breakdown of all payments made to the tune of £13525.20.I will be send a SAR to Carland now as I have a receipt for £8000 for the car , I am wondering if BH have cooked the figures or CL have added PPI to the original car loan under a disguise.Either way I have paid over £1399 (including interest) more than I should have.The car loan agreement has an APR of 18.5% but there is no Loan interest rate on the CCA.

di3004

DidsySith wrote: »

They have supplied a breakdown of all payments made to the tune of £13525.20.I will be send a SAR to Carland now as I have a receipt for £8000 for the car , I am wondering if BH have cooked the figures or CL have added PPI to the original car loan under a disguise.Either way I have paid over £1399 (including interest) more than I should have.The car loan agreement has an APR of 18.5% but there is no Loan interest rate on the CCA.

In this case then - maybe a SAR will be a good idea, hopefully something useful will come back within this request. Good luck.
http://forums.moneysavingexpert.com/showthread.html?t=1475553

DidsySith

http://img697.imageshack.us/img697/9087/scan10001.jpg

Ok here is a copy of the CCA which I have received.

di3004

DidsySith wrote: »

http://img697.imageshack.us/img697/9087/scan10001.jpg

Ok here is a copy of the CCA which I have received.

Crikey a lot of interest charged there hun :eek:
It all adds up doesn't it?

funkytv

did you have a part exchange? which was already on finance?

seems like they have set up a personal loan for you, instead of 'hire purchase' which is the norm for car dealers.

DidsySith

No I didn't have a car for part exchange and it is a personal loan arranged through Carland.

DidsySith

I have just been round my GF's parents house and her brother was there.He also bought a car from Carland for £9000.I was looking through his documentation and he has been charged £250 for GAP policy (not bad but could be cheaper) and his loan of £9000 for the car (except it is not a loan but an HP agreement).Now he was told as the loan/HP was over £8000 he would have to take out 2 loans/HP for £9250 between them.So he has 1 loan for £1295 @ 19.7% through a company called All in One Finance (which covers the GAP policy and part of the money for the car) He also has another loan for £7990 @ 34.7% YES 34.7% for the remainder of the car through a company called Marsh Finance and I thought I had been RIPPED OFF!