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welcome finance excuses
Beamo1972
Posts: 3 Newbie
Hiya
I have eventually sent off the letter to welcome finance about reclaiming my PPI from a car i had off them and then re financed a few years later
I received a letter off Welcome today stating i had 3 accounts with them all to do with same car .
They said i was not entitled to a refund on the 1st because it was set up by a broker (Auto Credit Finance LTD) who have ceased trading . I only ever dealt with Welcome finace . went to their showroom and offices and all payments from bank were to welcome and all statements were welcome finance too . Never heard of Auto Credit until today .
They also said the other 2 accounts did not have PPI on them so again not entitled to payment . i was told by welcome when i went to sign for car on both occasions that i would only be able to get it if i signed up for protection against losing my job or sickness .
Am i being fobbed off here or do they have a point
steve
I have eventually sent off the letter to welcome finance about reclaiming my PPI from a car i had off them and then re financed a few years later
I received a letter off Welcome today stating i had 3 accounts with them all to do with same car .
They said i was not entitled to a refund on the 1st because it was set up by a broker (Auto Credit Finance LTD) who have ceased trading . I only ever dealt with Welcome finace . went to their showroom and offices and all payments from bank were to welcome and all statements were welcome finance too . Never heard of Auto Credit until today .
They also said the other 2 accounts did not have PPI on them so again not entitled to payment . i was told by welcome when i went to sign for car on both occasions that i would only be able to get it if i signed up for protection against losing my job or sickness .
Am i being fobbed off here or do they have a point
steve
0
Comments
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What does your paperwork say?
It's who sold it to you that's mportant, not who you paid for it, so if Auto whoever did actually sell it to you your complaint is over.
If you think the second two tmes you did pay, send them a SAR and £10 to see what paperwork is left [there may not be much or any even if they tell you you haven't paid it] - there's a sticky on the front page with a link to a template.Non me fac calcitrare tuum culi0 -
i have no idea as no longer got my paperwork as it was lost in house move, but if it was a broker then surely i would of heard about them before now ? . keep getting statements from welcome though saying i still owe them £100 from accounts .0
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You have been told that your PPI was sold through a broker who is no longer trading and that no PPI was applied to later finance. Since you have no paperwork or other evidence with which to dispute the Bank's assertions, it's difficult to see you being able to go any further with this. Even your complaint that you were told that you would not get the car loan unless you bought the insurance is weak "hearsay".
If you remain unconvinced, send Welcome a Subject Access Request (SAR) letter. It will cost you £10. Do not be surprised when it returns only confirmation of what you have been told already.
If the original finance was taken out post 2005, though, it may be possible to to complain via FSCS if the broker has definitely ceased trading. Anything prior to 2005 would be a dead duck.0 -
Hiya
I have eventually sent off the letter to welcome finance about reclaiming my PPI from a car i had off them and then re financed a few years later
I received a letter off Welcome today stating i had 3 accounts with them all to do with same car .
They said i was not entitled to a refund on the 1st because it was set up by a broker (Auto Credit Finance LTD) who have ceased trading . I only ever dealt with Welcome finace . went to their showroom and offices
This bit doesn't sound right. Welcome are a finance company they wouldn't have a showroom...0 -
Insider101 wrote: »This bit doesn't sound right. Welcome are a finance company they wouldn't have a showroom...
Welcome Car Finance had the showrooms and sold cars on HP through Welcome Finance.0 -
They said i was not entitled to a refund on the 1st because it was set up by a broker (Auto Credit Finance LTD) who have ceased trading . I only ever dealt with Welcome finace . went to their showroom and offices and all payments from bank were to welcome and all statements were welcome finance too . Never heard of Auto Credit until today .
The lender and the dealer would be too separate things. Auto Credit Finance Ltd carries the liability. Not Welcome.
Looking at past information where someone tried to use the FOS, the FOS were unable to help as Auto Credit Finance Ltd ceased trading in 2008. If you bought the loan after January 2005, then you can refer the complaint to the FSCS. However, if you bought before 14th Jan 2005, then its game over.Welcome Car Finance had the showrooms and sold cars on HP through Welcome Finance.
The finance may have been arranged through Welcome but they never sold it. The company that sold it was Auto Credit Finance. Whilst the holding name may not reflect the trading name, it is the "retailer" of the product, in this case the dealer, that is responsible.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Insider101 wrote: »This bit doesn't sound right. Welcome are a finance company they wouldn't have a showroom...
They had a unit in Birmingham where u looked at the car and then took it for test drive before going back into the office part and sorting out the paperwork . I took the car off Welcome Car then got to pay the monthly money to Welcome Finance . It was part of Welcome Finance but they definatley sold me the car from there because they also took my old car as part ex0 -
Welcome didn't sell you anything I'm afraid, it was Auto Credit Finance LTD-as you've already been informed. This not an "excuse" by Welcome.It was part of Welcome Finance but they definatley sold me the car from there because they also took my old car as part ex
Any complaint you might make now hinges solely on whether you bought the insurance before or after 2005. Again this is not an "excuse"by Welcome.Auto Credit Finance Ltd ceased trading in 2008. If you bought the loan after January 2005, then you can refer the complaint to the FSCS. However, if you bought before 14th Jan 2005, then its game over.0 -
I took the car off Welcome Car then got to pay the monthly money to Welcome Finance . It was part of Welcome Finance but they definatley sold me the car from there because they also took my old car as part ex
The trading name may have been Welcome cars but the actual company name was Auto Credit Finance ltd. There is even the possibility of three companies being involved here (car dealer, in house broker and finance company). Whatever the set up was, it was not lender that sold you the finance. It was the broker and that broker was Auto Credit Finance Ltd. Auto Credit Finance Ltd were either the car dealership or they were who the car dealership referred their finance cases to (and could have had someone on site to handle it).I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Welcome Finance did not sell cars. Like what Dunstonh said it may have come under the banner/trading name 'Welcome Finance Cars' or whatever but that company actually selling the motors and selling the finance was not Welcome Finance. And the OP has already been told this.
Like when you go to Ford and buy a car, you are not buying it off Ford but a car dealer franchise like Hendy Ford (Hendy Group Ltd) and the credit will be sold by Ford Credit Finance (or whoever). Neither companies are actually Ford and Ford havent sold you anything.0
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