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MSE News: Carcraft fined over PPI sales

edited 30 November -1 at 1:00AM in Reclaim PPI & Other Insurance
6 replies 3.4K views
Former_MSE_HelenFormer_MSE_Helen
2.4K posts
edited 30 November -1 at 1:00AM in Reclaim PPI & Other Insurance
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 ..."
Read the full story:
Carcraft fined over PPI sales

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Replies

  • jam1980ukjam1980uk Forumite
    21 posts
    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 paid
  • magpiecottagemagpiecottage
    9.2K posts
    ✭✭✭✭
    Warranty - probably not. PPI - if it was after 2001 and a single premium added to the loan then it is likely.
  • georjangeorjan Forumite
    5 posts
    Eighth Anniversary Combo Breaker
    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%
  • edited 25 July 2012 at 2:44AM
    bigrichpricebigrichprice Forumite
    6 posts
    edited 25 July 2012 at 2:44AM
    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.

    Rich
  • 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,
    Paul
  • [Deleted User][Deleted User]
    0 posts
    Eighth Anniversary 10,000 Posts Name Dropper Photogenic
    MoneySaving Newbie
    Rich

    Did you end up taking this complaint to Car Craft or the finance company?
    The poster you are addressing has not been active on the site since August.
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