HP Carcraft - Where Do I Stand?

MNM2903

Do you think if the warranty is with all in one finance and carcraft no longer provide the warranty service and repairs this would give buyers the right to cancel?

Garrisons

I'm in a similar position, I part exchanged my car with carcraft on Wednesday 29th they rang my finance company to settle and I bought a new car and refinanced with another finance company.I was shocked when I heard the news the next day. I don't know if they settled my finance on the old car I now don't have and I have new finance with rate setter to start at the end of the month , with the old finance company still expecting me to pay for the previous car.
They also smart talked me into all for one drive happy scheme but I will simply cancel.
What I want to know is where do I stand ? The refinance should have paid the settlement I simply won't pay two finance companies I cannot afford this and fear this will drive me to poor credit rate even bailiff .court.

SimonSays

antrobus wrote: »

No, Marsh Finance are 'linked' with All In One Finance, of that there is no doubt.

Based on this....

Marsh is a lender, we are not a broker, Marsh makes the credit decisions and we lend both our own money and for the portfolios that we manage. ....

http://www.marshfinance.co.uk/about-us/

... my guess would be that Marsh manage the All In One Finance book.

They underwrite for Stoneacre aswell. So could be some big ripples coming.

2-twisted-right-ears

mullen8627 wrote: »

Do you think if the warranty is with all in one finance and carcraft no longer provide the warranty service and repairs this would give buyers the right to cancel?

Not exactly, but possibly as I found out.

If you have paid for the Drive Happy plan through credit, then the lender is jointly liable under the consumer credit act.

That means that the lender either has to honour the contract as if Carcraft were providing the service, e.g. Servicing, MOT, warranty, breakdown or take no further payment as the contract has been broken and the service can no longer be provided.

Complexity lies in whether or not you have the plan included in your main finance agreement or separately. Mine was in a separate agreement and was cancelled instantly with no questions asked.

Only way to know for sure is to speak to your lender.

antrobus

SimonSays wrote: »

They underwrite for Stoneacre as well. So could be some big ripples coming.

Their Contact Us page, suggests that they also manage Ferrari's book as well.:)

http://www.marshfinance.co.uk/contact-us/

I don't know to what extent there is a risk of contagion.

robatwork

have now turned into HP Lovecraft.

SimonSays

antrobus wrote: »

Their Contact Us page, suggests that they also manage Ferrari's book as well.:)

http://www.marshfinance.co.uk/contact-us/

I don't know to what extent there is a risk of contagion.

"Luxury car manufacturer contacts small subprime lender in Rochdale to provide finance"


Doesn't have that ring about it does it?

SimonSays

I suspect Marsh might be safe then as they seem to be an independent financial services company.