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car finance nightmare
Hi I took out a car loan jointly with my dh with yes car credit almost 2 years ago. Car was worth at the time 6k, we part exchanged our old car to take the cost down to 5k
anyway my dh since left the forces back in june last year leaving us no longer able to pay the £266 a month needed. The account went into defaultand despite us informing them of all that was going on they kept sending letters with £35 charges attached at least twice a week for months.
We gave them the car back in september whick was sold at auction - we believe they got around 4k for it
still leaving a debt of £7,500 outstanding.
sums not adding up here so looked through the paper work and discovered that insurance was put on top of the inital loan bumping the total cost for a £5,000 car to £12,000!!!
we have now agreed to pay them back at a tiny £40 per month - even that is a huge strain.
does any one know if we can get our money back from this so called insurance that we never knew about let alone agreed to.
cant see this nightmare ever ending
help anyone please
anyway my dh since left the forces back in june last year leaving us no longer able to pay the £266 a month needed. The account went into defaultand despite us informing them of all that was going on they kept sending letters with £35 charges attached at least twice a week for months.
We gave them the car back in september whick was sold at auction - we believe they got around 4k for it
still leaving a debt of £7,500 outstanding.
sums not adding up here so looked through the paper work and discovered that insurance was put on top of the inital loan bumping the total cost for a £5,000 car to £12,000!!!
we have now agreed to pay them back at a tiny £40 per month - even that is a huge strain.
does any one know if we can get our money back from this so called insurance that we never knew about let alone agreed to.
cant see this nightmare ever ending
help anyone please
0
Comments
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I can see this has been viewed loads of times but with no response so I'll have a stab at it. I don't think you will get any joy at all from Yes Car Credit - your only way forward may be to contact the FSA - (Financial Services Authority) to question whether this was mis-selling of PPI. If it was sold to you correctly - benefits explained etc - the you may be out of luck, but theres no harm in giving it a try. Copy Yes Car Credit in on any correspondance.:j £2 coin saver club £52 :j
Formerly known as Bargain Annie - but handed Annie over to friend in need
Love a lot, Trust a few, but ALWAYS paddle your own canoe!:rotfl:0
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