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MSE News: Carcraft fined over PPI sales
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Former_MSE_Helen
Posts: 2,382 Forumite
This is the discussion thread for the following MSE News Story:
"The car supermarket gave poor advice when selling PPI, leading to a £91,000 penalty from the FSA for its owner ..."
"The car supermarket gave poor advice when selling PPI, leading to a £91,000 penalty from the FSA for its owner ..."
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Comments
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i went to car craft a good few years ago,i was young and really hyped about getting a car, any way they sold me ppi plus a 5 years warrety that cost a fortune.
When i got home and read though every thing, i rang them the day after and asked to cancel the warranty but they said i cant. i wrote letters but they said as it was signed on trade premises i didnt have a leg to stand on. Now with this fine coming to light do you thing i would now have grounds to recover some of the money i paid0 -
Warranty - probably not. PPI - if it was after 2001 and a single premium added to the loan then it is likely.0
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i went to purchase a vehicle from them some years ago and they would not tell me what the apr was on their finance, i must have asked five times so i told them i would be back with a bank loan. by the way the apr was approx 21%0
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Hi,
I got a car from carcraft five years ago. I was told I had to take out two loans, one with British Credit Trust and another through Creation car finance (Both of which have been paid in full)
I was told I had to have PPI and something called NAC too, or I wouldn't get the loans and no therefore no car. This article somewhat confirms this too.
I'd like to claim this myself, however I am unsure who to write to, Is it the companies I got finance from or from carcraft themselves? Is the process the same or slightly different in this instance?
Any advice warmly welcomed.
Rich0 -
Hi Rich,
I contacted the finance company who I had my Car Craft Car Loan through (Welcome Finance) who have said the following:
We have found that this policy may have been sold by a third party. All potentially broker sold cases are being investigated by the Financial Services Compensation Scheme and it is unclear how long this may take.
Did you end up taking this complaint to Car Craft or the finance company?
Any advice would be grateful.
Thanks,
Paul0 -
paulbaverey wrote: »Rich
Did you end up taking this complaint to Car Craft or the finance company?0
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