Yes Car Credit Ripped us off!!!

irishqueen_2

Hi everyone,

Me and my partner are having major problems with a debt company caled Go Debt. We got a car from Yes Car Credit in March 2005 because my partner didnt have a credit file due to just coming over from Ireland so to build up credit we thought we would do it by getting a car from them. We had none stop problems with the car. faulty tyres, fluid leaking from the steering column twice to name but a few problems, and to top it off the day after we got our car it was advertised nationwide that you get £250 cashback when u get a car from them. I phoned the head office to enquire why we didnt get it and we got told that it only lasts for a month and it runs out in two wks. There months only have 2wks in them not 4wks :mad: . I then took the car back to them 9mths later as pre arranged by phone because i was sick of throwing money away on it, i also got them to photocopy the letter i gave them terminating our agreement with it stating we owe £1345 due to not paying at least half of the amount owed which they agreed to get n contact with myself to arrange a monthly payment. I heard nothing I phoned them twice within 2 months and they said they would get back to me....we then moved 6mths later and tried to obtain a Tv from Dixons on credit got refused so got a copy of our credit file and Yes Car Credit had put a default on our account stating we owe £6895 i eventually tracked down the debt company ' GO DEBT' :mad: :mad: :mad: they were rude and very threatning and got told it was the GAP INSURANCE that was owing and no matter if we had kept the car until half the amount was paid we still needed to pay, the outstanding amount. The bloke even told me from Go Debt that Yes Car Credit would have sold the car at an auction to clear the Hp on it and they would have bought it back, which they did because I got a letter from DVLA asking confirmation that i sold the car to Yes Car Credit. I couldnt believe what i was being told and we agreed to pay them £2232.81 that was all we had saved and to also pay by monthly instalments which they said they would accept £1500 cos i had got in contact with them. I hadnt heard off them for a month i contacted them last week and they have now said they want £4665 by the 20 Sept and if they dont get it they are going to take our house off us with a bankruptcy order and when i said you was suppose to contact us they got very abusive and even more threatning. My question is are these people allowed to do this even though we have told them we don't have that kind of money and are willing to pay monthly to get this debt cleared and cant get loans because our credit file is now marked is this allowed to happen please help people if anyone has advice. Thankyou.

JasonLVC

I'm sorry to hear of your nightmare.

Yes Car Credit are a notorious bunch of crooks who prey on the uninformed or desperate.

I'm sure there are other members here who will give you much better advice, however, in the meantime, don't lose hope.

To clarify on your post though, some questions which may help other members when posting a response.

The £1,345 due to not paying at least half. I assume this was an early termination fee or was this half the value of your car (ie, your total loan cost £2,690 - I suspect the £1,345 was an early termination fee meaning that you still owe an amount for the actual car that you bought from them.

The £6,895 amount due to gap insurance. GAP insurance is an additional monthly fee you pay to cover the difference between what you bought the car for and what it is worth 1-2 years down the line and protects you from the value of your car going down whilst you are still paying off the original loan. If they are asking for £6,895 then that would suggest to me that you purchased a high value car (ie, over £8000) and basically handed it back to them after 9 months which they took as an inability to pay. This meant you were then liable for early termination costs and the full value of the vehicle.

If you had GAP insurance then that would cover the difference between what you paid and what Yes Car sold the car again for - but over £6k is a big amount of money. I suspect you do not have gap insurance.

With regard your home. Depends upon the loan you took out with them. If it was SECURED, then it means the loan is given to you in exchange for your property should you not pay. UNSECURED loans are loans given with no strings attached (and they'll persue you in court for it).

With regards bankruptcy, I'm not an expert in this area so cannot help but am sure that if you declare yourself banckrupt they cannot take your house away. However, how come you have a house?. If you had no credit rating what bank would lend you the money to buy a house?. Whose name is the house in?. Whose name is the car loan in?. This makes a difference.

In my experience, banks would rather seek monthly payments than to repossess a house, especially for an amount of only £6-7k. Infact, I doubt any court in the land would issue such a possession warrant for such a low amount. Ensure you keep records of all calls made (they record them at their end and you can use as evidence if so required), as well as any paperwork. This will be useful to show a court/bank that you've tried very hard to resolve the matter and this will go against Yes Car Credit.

Sounds like Go Debt are a bunch of thieves in suits to me and the person you spoke to is probably on a bonus if he can get debts repaid on time. Either that or the 'scare the client sh*tless' tactics is being deployed. Either weay, not a nice experience for you I'm sure.


On a seperate issue, if the car was faulty then it was not fit for purpose and so you were within your rights to return the vehicle, provided it was on the basis of it being faulty. That doesn't mean you can get away with not paying the loan of course. You should have demanded repairs and/or a replacement car but maintained the payments on your loan.

I think there is enough fuzzy detail here to argue a good case that you've been treated badly by Yes Car. I'd approach Citizens Advice in the first instance as I'm sure they'll have experience of these cowboys

Turning_into_scrooge

Have a look and a search on this site

https://www.grumbletext.com

There is a link on there to a site dealing with yes car credit. You are not the only ones in this situation, there are thousands of others but i think this site can help you with problems you are having. Good Luck

http://www.grumbletext.co.uk/vt.php?p=20165&subj=lsh+1409+1417+complaints+Stephensons+helps+to+say+no+to+Yes+complaint&highlight=yes+car+automobile+credit#20165e

http://www.saynotoyes.co.uk/

GiveItBack

I'd also suggest having a look at CAG:

http://www.consumeractiongroup.co.uk/forum/

I don't know if there's anything specific to YES, but there's a lot of relevant info there.