Car Finance PPI - First response

amersall

If the loan is still running, you will get the ppi monthly payments you have made to date back with interest, i dont know how to work the interest out,sorry,
You will get 8% for each month you made the ppi payments, the whole ppi comes off your loan and your monthly payment goes down by the ppi monthly amount.
If the loan is settled, you get the whole ppi payment back to you, less any rebate they gave you when you settled,you get the ppi monthly payments you made to settlement date with interest and 8%.
Hope this helps.
Marshallka and Robbedof are good with working refunds out, they know about interest etc, hopefully one of them will post and help you more.

Cedric_Simple

Thanks Amersall

I'll post again when i hear something.

amersall

Good luck.

Cedric_Simple

Success!

Received an offer letter today of £122.77 plus a further £350 for my troubles and being a good customer.

All that's left is to sign the letter and wait for my cheque.

Thankyou!

amersall

:j:jWell done :beer:

hancoxrg

Hi All,

I had car financed with first response some years ago which was paid off in 2007 so within the 6 year rule. At the time I was younger and more nieve and now realise that I paid many times over for something that was never explained to my by the car dealer and never shown the monthly payment without the PPI.

I have sent my letter off yesterday via "Signed for" post so they cant deny getting it. I havce checked today to make sure it was delivered and it was so I'll want and se.

Also did the same for PPI with Beneficial (Wich I never knew I had) and with Citi Finance who told me it would improve my chances of getting the loan. All in all screwed over. So a few years on lets see if I can repy the favour.

I'll let you know how I get on. PPI amounts to about £9,500 so we'll see.

amersall

Fingers crossed.