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Advantage Finance adding on insurance
Makingitdownunder
Posts: 4 Newbie
hi everyone, I need your advice.
I took out a HP agreement with advantage finance 2 years ago. When I took out the agreement they told me that if I didn't take out any insurance then the apr would go up. So they ' advised me' to take out gap cover, theft protect and breakdown cover . All this added an extra £1200 to my finance. tried to cancel the extras within the first week of payout but they informed me that my monthly payments wouldn't be reduced because the apr would then be increased. They said I got a reduced apr only on the understanding I would take out all this extra cover.so I didn't see the point in cancelling the cover if my payments wouldn't reduce.
I was wondering if I have any right to make a claim against them because I didn't want the cover in the 1st place but felt forced to take it to keep the reduced apr.is it right that they can increase the apr just because you refuse extra cover?
Many thanks:D
I took out a HP agreement with advantage finance 2 years ago. When I took out the agreement they told me that if I didn't take out any insurance then the apr would go up. So they ' advised me' to take out gap cover, theft protect and breakdown cover . All this added an extra £1200 to my finance. tried to cancel the extras within the first week of payout but they informed me that my monthly payments wouldn't be reduced because the apr would then be increased. They said I got a reduced apr only on the understanding I would take out all this extra cover.so I didn't see the point in cancelling the cover if my payments wouldn't reduce.
I was wondering if I have any right to make a claim against them because I didn't want the cover in the 1st place but felt forced to take it to keep the reduced apr.is it right that they can increase the apr just because you refuse extra cover?
Many thanks:D
0
Comments
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Makingitdownunder wrote: »hi everyone, I need your advice.
I took out a HP agreement with advantage finance 2 years ago. When I took out the agreement they told me that if I didn't take out any insurance then the apr would go up. So they ' advised me' to take out gap cover, theft protect and breakdown cover . All this added an extra £1200 to my finance. tried to cancel the extras within the first week of payout but they informed me that my monthly payments wouldn't be reduced because the apr would then be increased. They said I got a reduced apr only on the understanding I would take out all this extra cover.so I didn't see the point in cancelling the cover if my payments wouldn't reduce.
I was wondering if I have any right to make a claim against them because I didn't want the cover in the 1st place but felt forced to take it to keep the reduced apr.is it right that they can increase the apr just because you refuse extra cover?
Many thanks:D
Have you managed to get anything sorted with them as the same thing has happened to me?0
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