Citreon Finance For New Car

lilah123

Hi

My husband went off to buy a 6k car last year from the Citreon garage with the money in his bank account and when he returned he told me that he had taken out a 6 month hp type agreement with payment protection despite us having the cash. He said the salesman said that he could somehow make money by taking the agreement, they would pay some or part of the installments and then when he got his final bill he would also receive a cheque which meant he actually made £500 over the six months. Low and behold, this happened and he paid off the loan on the final bill and received the cheque for £500 or £700. He is really hazy on the details and said he never understood the whole thing anyway (whih begs the question why he took part really but that is another matter).

Has anyone any idea what this might be all about? I have the PPI agreement paperwork etc but no clearer. He had insurance elsewhere so this was pointless to take anyway but he thinks as he made money on this, I shouldn't pursue a claim. I rang the FSA but the woman on the phone was baffled herself. He traded in his old car for £700 at the time of the sale, does this have anything to do with it?

di3004

Hi there

Bumping this up for you, but it mis sold the insurance I can't see why he doesnt try making a reclaim.
He can do this by completing the reclaim questionnaire as on step 3 below, send to the dealers office of complaints dept, save a copy as well.
Meanwhile maybe someone will be along and know more of these issues, good luck.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step3

magpiecottage

Nothing you have said seems to demonstrate a financial loss so I suspect the sale would be defensible. It also seems most unlikely that you would have been missold last year as everybody was very wary by then.