carcraft warranty finance

MNM2903

In December 2013 I stupidly bought a car from Carcraft and was pressured into taking out an additional 3 year guarantee!
by a salesman who told me a pack of lies (I know, I'm an idiot!).!


For various reasons this warranty turned out completely uselss. I have just recent done the voulantary termination for the finance paid up to the half way point etc and all agreed to have the car collected and that will be my agreement ended.

I do however still have this payment for the 3 year warranty going out my bank.

Apaprt from all that,!
I've read this morning that Carcraft has gone into liquidation and closed down all their garages,
so in effect they wouldn't be able to uphold their end of the bargain i.e. MOT, servicing and repairs at their premises.


So where does this leave me?!


I've been paying £25pm for the past 2 years for a service I've never used and wont be able to use.!


Can I stop paying?!

smj43

Well you weren't going to be using it anyway since you no longer have the car? That's the price you pay for signing up to something and then pulling out of it. If you call your finance company, you may get out of the payments but in all honesty I think you're just using the fact they've gone bust to your advantage. There are plenty of customers like myself that have been left genuinely out of pocket....

[Deleted User]

The finance isn't with Carcraft so you would need to contact the company providing it.
Given you aren't getting a service from it i can't see how they can uphold it, however it isn't them per say - so I guess it depends who is underwriting it.


From the Carcraft website:

"I have a finance loan to pay for my DHP, can I cease payments?

The administrators of Carcraft are not in a position to comment in respect of these loans as they were not provided by Carcraft. Please contact your finance provider."

MNM2903

smj43 wrote: »

Well you weren't going to be using it anyway since you no longer have the car? That's the price you pay for signing up to something and then pulling out of it. If you call your finance company, you may get out of the payments but in all honesty I think you're just using the fact they've gone bust to your advantage. There are plenty of customers like myself that have been left genuinely out of pocket....

Of course im using it to my advantage, ive been through allsorts with them in regards to the warranty they sold me. I always made payments on time never missed one and gave all my DD details on day of purchase and found out months later that the warranty was seperate to the car finance and no payments had been made because carcraft never sent off the DD details.

Ill do what i can to get out of warranty thats been an utter waste of time and totally miss sold as i was informed my monthly cost was a total of £191 per month which i paid and was led to understand this included the warranty. Its not like im not "genuinly out of pocket"

CHR15

Everyone who bought a car from carcraft is/was out of pocket.
They all agreed to pay three times more for the car than it was worth.

Where's that post from that kid spending £13k on a 6 year old Corsa?

Where's that post from the ex carshaft salesman who sold the same car 5 times, each time being repossessed from the fools buying it?

MNM2903

agreed CHR15, 2008 VAUXHALL ASTRA is what i got. this was in 2012 and total cost would have been 11.5k over 5 years had i not decided to hand it back at the half way point. the cars only worth £3000 now.

Everyone out of pocket as you say.

thinking back i dont know why i let thewm talk me in to it.

shortcrust

Aren't the merits or continued existence of the warranty a separate matter to the finance?

You borrow from X to take out a warranty with Y. If Y goes bust you still need to repay the money you borrowed from X.

WobbleNah

Oh dear. I've just had a text from CarCraft saying they are in administration. I have one of those warranties too - a recent one!

purplekiwi

I paid off my car from car craft but have been still paying for the drive happy policy monthly. Now car craft have gone bust they can't uphold that service.

I don't know where I stand in terms of my agreement with finance company, and the service/loan I am paying for is now void. Am I to continue paying monthly for nothing?

Not sure who to contact. Rang finance company and they didn't have any info at this time.

Might add too I only found out about car craft from the radio- no one has communicated with me.

[Deleted User]

I'm glad they have gone bust, they have really dodgy tactics.

From memory they force the warranty finance to a company called All In One Finance which then transferred to Aktiv Capita (or similar) so I would assume they have you by the nuts for the payments.

But as they cannot fulfill their end of the agreement I'm not sure what would happen.

chanz4

I wonder what will happen to webuyanycar.com will go belly-up as they sell mostly to them.