Help! Welcome Car Finance

Labanb

jellie wrote: »

Are you sure that the £996 was all for PPI, and you didn't also have GAP and/or mechanical breakdown?

No gap, as stated, WCF state that the claim was for "insurance", not for any other payments of any kind.

Bill

Labanb

-taff wrote: »

when you say you returned the car, did you return the car after you had completely paid for it or did you return it with money owing on it?

50% of contrcat paid, as per British contract law.
No money owing at all.
WCF claimed for "insurance" of £996.

Bill

jellie

Labanb wrote: »

What figures did the FSCS give you in the calculation?. They haven't. Used ABC management.

Bill

FSCS will have also sent you a copy of the figures. If you didn't get it, ring Welcome and ask for another copy. That will tell you exactly how they have worked out your refund.

You can then compare it to your loan agreement and the letter you got confirming your VT figures.

If you handed the car back 4 years ago and you haven't paid anything since, you're going to have had charges for phone calls and letters added.

-taff

Labanb wrote: »

50% of contrcat paid, as per British contract law.
No money owing at all.
WCF claimed for "insurance" of £996.

Bill

I'm not sure what you can do. The company is doing the complaint, not you, so unless you take it over, or ask them to show you what the company has been sent, you're reliant on them to get on with your complaint.
If you cancel your contract, they'll probably charge you a fee for the work already done.


If you only paid 2 years of the contract, you only paid half the premiums, hence the offer of 425?

amersall

Labanb wrote: »

I paid ALL of the premiums up to the date of return which was half way through the contract. UK law allows for the return of vehicles so long as 50% of the contract has been paid and the car is returned in reasonable condition.

Also WCF stated that the £996 was for "insurance", and not any other payments.

Bill

When you returned the car, was the contract ended and the loan paid in full and did you get paperwork for this?, sorry for all the questions but I do not know how HP on a vehicle works.

Labanb

-taff wrote: »

I'm not sure what you can do. The company is doing the complaint, not you, so unless you take it over, or ask them to show you what the company has been sent, you're reliant on them to get on with your complaint.
If you cancel your contract, they'll probably charge you a fee for the work already done.


If you only paid 2 years of the contract, you only paid half the premiums, hence the offer of 425?

The company (ABC) have stated they have ended their action as I refused the first offer, as I understood it to be. Right now I am waiting to get my copy of the contract back from them so I can follow up my claim.

And if I had only paid half the premiums, why was I offered £425? They are they claiming £996, so surely that is how much I still had to pay, which suggests thats what I had already paid.

Labanb

amersall wrote: »

When you returned the car, was the contract ended and the loan paid in full and did you get paperwork for this?, sorry for all the questions but I do not know how HP on a vehicle works.

UK law allows you to return a vehicle at the 50% point of any contract so long as your payments are up to date, and the vehicle is in good condition.

As I recall, I only got a letter stating that they had received the car, and then a further letter stating I owed them £996 for "insurance" that I had taken out when signing the contract.

Bill

-taff

I get what you mean now...took a while....

You'll have to wait for the contract to come back to see if you left off any other payments or they might have charged admin fees.
If the 996 is the original amount of PPI and you paid 2 years worth, then yes, you should get the 425 back.

amersall

Labanb wrote: »

UK law allows you to return a vehicle at the 50% point of any contract so long as your payments are up to date, and the vehicle is in good condition.

As I recall, I only got a letter stating that they had received the car, and then a further letter stating I owed them £996 for "insurance" that I had taken out when signing the contract.

Bill

Thanks, I understand the car HP now.

If they said you still owe the full PPI after 50% of payments made, the FSCS should have compensated for this and you give it to Welcome, the FSCS should compensate for the whole PPI, ask FSCS how they worked this out as Welcome want the whole PPI amount back now and you repaid 50% of these, you need all calculations to work out if the redress is right and the contract ended with the claims co as taff said.

jellie

The FSCS can only go by what Welcome tell them you still owe on your loan.

As already advised, read your copy of the letter FSCS sent you - if you don't have this, ask for another copy.

If you believe you don't owe Welcome any money, you will need to take this up with them. FSCS can't, and won't, do this for you.