Experian sold in Loan

traveller1961

Hi,

Have have just taken a loan out with a finance company to purchase a car, however I was told that they would provide a free years suscription to experian at no cost.
I have discovered they have charged me over three hundred pounds for this, added of course to the loan, but was told on the phone that it would have to be taken to get the loan, is this legal, and can i get my money back...sounds like a new ppi type scam for comission?:(

roonaldo

ppi is not always a scam for commission!

Im not sure why they would offer a year free subscription to experian, thats hardly an enticing incentive! do you have this in writing or anything else to that matter? i

traveller1961

I have the paperwork the sent through after all was completed,
on the left side of the paperwork, is all the loan figures, on the right is the ppi section and this experian cost!! It also shows the additional apr because of it.
I would not have taken this had I know the charges and the amount over the term of the loan. I did not need it and did not want it.:j

ILW

Seems a bit strange.
£300 for a years Experian Subs is way over, it's normally £6.00 mth.
Also if it is added to the loan I cannot see why it would affect the APR.
You need to get explanations from the loan provider before going any further.

Experian_company_representative

I've looked into this for you. CreditExpert memberships can be offered as a paid-for optional extra by some finance providers. You certainly shouldn't have been told it was a freebie - maybe there was some confusion here. Also, the amount you mention suggests this is a four-year membership not just one. If you definitely don't want this extra just contact the finance company and I'm sure they'll sort this out for you.

James Jones

WRINKLES

Experian_company_representative wrote: »

I've looked into this for you. CreditExpert memberships can be offered as a paid-for optional extra by some finance providers. You certainly shouldn't have been told it was a freebie - maybe there was some confusion here. Also, the amount you mention suggests this is a four-year membership not just one. If you definitely don't want this extra just contact the finance company and I'm sure they'll sort this out for you.

James Jones

Would the Experian representative go to debt free wannabe front page to answer a question

traveller1961

Yes, I only wish i could get some one at advantage to discuss it, after many calls all of which are premium rate, I am told if i cancel i get nothing back.
Yes it is a four year membership, which was lumped on the loan, therefore increasing the payback amount and therefore the apr rate.:mad::mad: