PPI from BMW Finance

les_&_ian

Hi,
I am currently making a claim against BMW financial Services for possible PPI charges made for various finance deals I have taken out with them for purchasing Minis over a period of time beginning in 2005. I received a letter from them recently stating :
"Our records show that you purchased a MINI branded policy when taking out finance in 2005. Having reviewed the documentation signed at the time, I cannot see any evidence that the insurance was mis-sold. However, as a gesture of goodwill, we would like to offer you a refund of the premiums paid"

This amounts to just over £260.00. I have no recollection of ever being told I was paying for PPI and the above statement seems to suggest that was indeed what I was sold. Has anyone else received a letter like this from BMW and if so can you advise on what to do next? I'm getting the feeling I'm being fobbed off with a derisory offer just to get me off their books plus there is no mention of subsequent finance deals which would go through until 2015. Should I take the offer or reject it and take it to the ombudsman?

Any help on this gratefully accepted! Les

[Deleted User]

les_&_ian wrote: »

I'm getting the feeling I'm being fobbed off with a derisory offer just to get me off their books

The incidence of fobbage is likely to be very low. Sounds like it's goodwill gesture as they more of a brand to protect than most.

I'd accept, unless you feel you have strong mis sell reasons.

-taff

You won't get any more back that what you actually paid.
They are refunding you the premiums you paid.

If you believe you are entitled to more, go to the FOS.

Geoff1963

You can maybe get back what you paid, plus 8 % simple interest ( less tax ).
You have to ask yourself if a bird in the hand, is worth two in the bush.

If you might ever want another loan with them, that might affect your decision.

amersall

You could write to them and ask that they consider the other finances that you had previously, they may say no, but at least you asked the question.