PPI On my new car purchase? Can I??

Quassi75

When I bought my brand new Renault car in 2007 (things were better then) I got talked into buying their one off special insurance charge, which they would pay me back the paid value if I were to total the car.

The salesman said as I was a new driver (new license) it would be best to get this insurance and paid £500 for this.

Am I able to claim this back at all? As I was missold this insurance as a new driver that just paid for a brand new car, and was pretty nervous as it was anyway..

magpiecottage

That sounds like gap insurance not PPI.

Had you written your car off you would have received its value immediately before the accident, less any excess.

In the early years, the value of a car tends to fall quickly whilst the loan capital falls slowly - so the insurance would pay less than you owed, leaving a "gap", which the gap insurance meets.

So it met a particular need.

dunstonh

Am I able to claim this back at all?

What makes you think you can claim it back?

As I was missold this insurance as a new driver that just paid for a brand new car, and was pretty nervous as it was anyway..

Why do you think it was mis-sold? Nothing in your post indicates it was.

Quassi75

dunstonh wrote: »

What makes you think you can claim it back?


Why do you think it was mis-sold? Nothing in your post indicates it was.

Because the sales man said that, and I quote "You better take the insurance, as your a new driver and your buying a brand new car, You will thank me later!"

dunstonh

Quassi75 wrote: »

Because the sales man said that, and I quote "You better take the insurance, as your a new driver and your buying a brand new car, You will thank me later!"

What makes you think that makes it a mis-sale?

What evidence do you have to support your allegations about what was said?

(not being difficult but at the moment you dont appear to have much going for you)

roonaldo

Quassi75 wrote: »

Because the sales man said that, and I quote "You better take the insurance, as your a new driver and your buying a brand new car, You will thank me later!"

PPI is a different kettle of fish, it was sold to people who is wasnt suitable for, people who may not have been eligible, costs were often hidden.

You have an insurance to protect the value. So?

People seem to think that having an insurance is wrong.

Quassi75

Okay. I asked a question, get flammed, so whats the point. Was only looking for a genuie answer, not constant put downs.. The title for this section does say: "Reclaim PPI & Other Insurance"

Catherine_Johnson_2

Quassi75 wrote: »

Okay. I asked a question, get flammed, so whats the point. Was only looking for a genuie answer, not constant put downs.. The title for this section does say: "Reclaim PPI & Other Insurance"

Calm down. Deep breath.

You haven't been 'flamed'. You just didn't get the reply you wanted/expected. Big difference.

Read the replies again, this time with a clear head. You've given no evidence of mis-selling.

magpiecottage

You asked if you could claim your money back.

We have told you why we do not think you can. Those reasons are genuine (even if they are not what you want to be told).

dunstonh

Okay. I asked a question, get flammed, so whats the point. Was only looking for a genuie answer, not constant put downs.. The title for this section does say: "Reclaim PPI & Other Insurance"

It doesnt mean you can reclaim insurance premiums on a whim. You are not getting flamed. You are being told that you dont have anything to complain about.

SimonD316

What your describing is GAP insurance, and it sometimes a good idea. My sister in law has written off two cars in the last 5 years and has got into debt because of the money lost. Personally I took it out on my current car even though I had been driving for 12 + years at the time having never had an accident.

If you were told it was compulsary you may be able to claim, or if the conditions of the insurance said you have to be over a certain age... I'm not sure if there are any valid reasons for it being mis-sold or not.