We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
The MSE Forum Team would like to wish you all a Merry Christmas. However, we know this time of year can be difficult for some. If you're struggling during the festive period, here's a list of organisations that might be able to help
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Has MSE helped you to save or reclaim money this year? Share your 2025 MoneySaving success stories!
Arnold Shark....
ClairePolly
Posts: 1 Newbie
in Loans
Hi (Sorry this is going to be a long one!)
We recently discovered my Uncle, who lives in Scotland (we live in Manchester), has fallen into an Arnold Clark trap/vicious circle and we’re looking for advice as to what we do next.
My uncle has special needs and works as a warehouse man (On National Living Wage), lives with my grandad and doesn’t have many friends.
He’s been going to Arnold Clark for the last 10 years and believed the Sales Man was a ‘friend’. My uncle is currently driving around in a C class AMG Mercedes (Since November 17), which made us suspicious and look through his paperwork on a visit last week.
It turns out he has a loan for £38k that was arranged by Arnold Clark in March 2016 - we aren’t sure what this is for, presume it’s a consolidation.
He is also paying a separate monthly sum for the Mercedes each month (and every additional thing a salesman can add to a deal - additional warranty, service package etc)
Basically, the total outgoings for just the cars is more than he brings in most months.
On the forms we found, the salesman has put my uncle down as a Warehouse Manager and a home owner - therefore any loan is unsecured now (I believe)
From the information we are aware my uncle has changed his car frequently, approx 4 times this year, we think this is were the mega consolidation loan is from. The salesman calls my uncle to suggest he changes his car, to which my uncle just can’t say no - I imagine his commission this year is ££’s!
My dad has contacted the salesman and he admitted he completed the forms for my uncle and signed them, he also said he knew about my uncles situation. He also said he went to a different lender to get the finance through and didn’t admit the large loan outstanding loan to the finance company for the Mercedes. :mad:
We are unsure as to where to take this next, and help or suggestions will be greatly appreciated.
We recently discovered my Uncle, who lives in Scotland (we live in Manchester), has fallen into an Arnold Clark trap/vicious circle and we’re looking for advice as to what we do next.
My uncle has special needs and works as a warehouse man (On National Living Wage), lives with my grandad and doesn’t have many friends.
He’s been going to Arnold Clark for the last 10 years and believed the Sales Man was a ‘friend’. My uncle is currently driving around in a C class AMG Mercedes (Since November 17), which made us suspicious and look through his paperwork on a visit last week.
It turns out he has a loan for £38k that was arranged by Arnold Clark in March 2016 - we aren’t sure what this is for, presume it’s a consolidation.
He is also paying a separate monthly sum for the Mercedes each month (and every additional thing a salesman can add to a deal - additional warranty, service package etc)
Basically, the total outgoings for just the cars is more than he brings in most months.
On the forms we found, the salesman has put my uncle down as a Warehouse Manager and a home owner - therefore any loan is unsecured now (I believe)
From the information we are aware my uncle has changed his car frequently, approx 4 times this year, we think this is were the mega consolidation loan is from. The salesman calls my uncle to suggest he changes his car, to which my uncle just can’t say no - I imagine his commission this year is ££’s!
My dad has contacted the salesman and he admitted he completed the forms for my uncle and signed them, he also said he knew about my uncles situation. He also said he went to a different lender to get the finance through and didn’t admit the large loan outstanding loan to the finance company for the Mercedes. :mad:
We are unsure as to where to take this next, and help or suggestions will be greatly appreciated.
0
Comments
-
If you can verify these facts, complaint to Arnold Clark head office. Then FCA - from what you say, sounds like a serious breach of Arnold Clark's commitments as a loan arranger/broker0
-
If you can verify these facts, complaint to Arnold Clark head office. Then FCA - from what you say, sounds like a serious breach of Arnold Clark's commitments as a loan arranger/broker
I agree with the above but if you get no joy you should open a case with the FOS, not the FCA.
The FCA don’t deal with individual complaints and will just tell the OP to open a case with the FOS.0 -
ClairePolly wrote: »My dad has contacted the salesman and he admitted he completed the forms for my uncle and signed them, he also said he knew about my uncles situation. He also said he went to a different lender to get the finance through and didn’t admit the large loan outstanding loan to the finance company for the Mercedes. :mad:
We are unsure as to where to take this next, and help or suggestions will be greatly appreciated.
Branch manager and the police if he's been filling in forms and signing them on your uncle's behalf.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
Wow, sorry I don’t have any useful advice but that’s disgraceful. I agree the police should be made aware of this if the salesman has filled in and signed financial documents on your Uncles behalf. Good luck0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.9K Banking & Borrowing
- 253.9K Reduce Debt & Boost Income
- 454.7K Spending & Discounts
- 246K Work, Benefits & Business
- 602.1K Mortgages, Homes & Bills
- 177.8K Life & Family
- 259.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards