Do I have a case?

Supersonic1

Hi all,

I took out finance on a car at 'Yes Car Credit' in March 05 and have four payments left. Although I wasn't sold PPI, the lady (and I use this term loosely) told me that I could only access the finance if I took out GAP, Mechanical Breakdown and Rescue & Recovery insurances; the latter two for just 24 months. These insurances were included in the finance and charged at 18.30 per month. On a more serious note, she asked me for cash to seal the deal (£200 to start with), even though they took my old car as a deposit. I was broke and when I told her I didn't have the money, so she asked me how much I did have on me and took that - I can't remember how much, probably £40-£50 at the time.

I was very down on my luck due to unforseen circumstances and very desperate as my old car needed more work doing to it than it was worth and I needed a car for work.

Thankfully, now, things have improved dramatically and my credit file is almost restored but I feel so angry that this company took advantage of me in this way when I was at the lowest point in my life.

Although technically, it wasn't PPI that they mis-sold to me, I recently decided to try to claim my money back and sent the finance company letter one. They replied with 'I've investigated your claim and we did not sell you PPI' - I never mentioned PPI in the letter and just provided the policy number. The cheeky so-and-sos included a Financial Ombudsman leaflet with their response.

Does anyone know if I still have a case with trying to claim back these insurances? I'm guessing it will be pretty hard to prove, but I hate injustice!!!

Any thoughts?

di3004

Supersonic1 wrote: »

Hi all,

I took out finance on a car at 'Yes Car Credit' in March 05 and have four payments left. Although I wasn't sold PPI, the lady (and I use this term loosely) told me that I could only access the finance if I took out GAP, Mechanical Breakdown and Rescue & Recovery insurances; the latter two for just 24 months. These insurances were included in the finance and charged at 18.30 per month. On a more serious note, she asked me for cash to seal the deal (£200 to start with), even though they took my old car as a deposit. I was broke and when I told her I didn't have the money, so she asked me how much I did have on me and took that - I can't remember how much, probably £40-£50 at the time.

I was very down on my luck due to unforseen circumstances and very desperate as my old car needed more work doing to it than it was worth and I needed a car for work.

Thankfully, now, things have improved dramatically and my credit file is almost restored but I feel so angry that this company took advantage of me in this way when I was at the lowest point in my life.

Although technically, it wasn't PPI that they mis-sold to me, I recently decided to try to claim my money back and sent the finance company letter one. They replied with 'I've investigated your claim and we did not sell you PPI' - I never mentioned PPI in the letter and just provided the policy number. The cheeky so-and-sos included a Financial Ombudsman leaflet with their response.

Does anyone know if I still have a case with trying to claim back these insurances? I'm guessing it will be pretty hard to prove, but I hate injustice!!!

Any thoughts?

Hi there

Maybe Dunstonh or someone who may know more of these GAP policies will be able to advise on this one for you.

But in "my opinion" like PPI it should be optional, and reclaimable.

You could write back and tell them they have mis-understood your letter, and to take another look.

But otherwise see what others have to say on this first if you want to in case I have this wrong, good luck.;)

Supersonic1

Thanks di3004,

I'm of the same opinion, it's just that I haven't heard of anyone claiming these types of insurances back. I'll certainly look up Dunstonh

di3004

Supersonic1 wrote: »

Thanks di3004,

I'm of the same opinion, it's just that I haven't heard of anyone claiming these types of insurances back. I'll certainly look up Dunstonh

Your welcome Supersonic1.;)

I'm sure I have heard of people reclaiming on this.

But to have another opinion will help, fingers crossed for you anyway. X

dunstonh

GAP is not really my thing but the all insurances sold under advice require the same standards. So, the principles will be similar.

The cheeky so-and-sos included a Financial Ombudsman leaflet with their response.

And quite correct that they did as well as it is a regulatory requirement.

Does anyone know if I still have a case with trying to claim back these insurances? I'm guessing it will be pretty hard to prove, but I hate injustice!!!

Dealers often make more on the insurances and finance than they do on the car. So, often the focus with them will be these things.

There is a problem with insurance and credit at the moment as there is no consistent answer or guidance being given by the FSA. On PPI they are clear that it shouldnt be added to the debt but be standalone and paid monthly. Yet on car insurance and often house insurance, if you dont pay annually, you pay monthly under a credit agreement and are charged interest. That is considered fair and acceptable. Yet there isnt a lot of difference.

I dont know if GAP would be available on a monthly premium. If it is, then you have been mis-sold. If it isnt, then I cant see they had any other way to do it if you wanted it. Breakdown cover doesnt fall under financial services regulations. So, thats a no goer. Although technically you probably were mis-sold that as you could have bought one year and paid yearly like everyone else.

di3004

Thanks for this Dunstonh, appreciate your opinion on this.;)