Pcp

Samhaines

Right I toke out pcp on my car with a 10,000 mile a year on it that was in march last year. Since then the car fought fire threw manufacturers defects I had done 24,000 miles been advised by legal representative to go after the finance threw the consumers act witch I am I spoke to my fiance who said I won't see any money back as gone over the agreed millages baring in mind the car is a right off threw no fault of my own. Any ways I think they are just trying to make extra money and not pay and the consumers act. And if it's 10,000 a year and I'm on my second year then iv only gone 4000 miles over ??? Also dose the millage really matter in this case as they arnt getting it back because of the fire damage and the manufacturer have claimed full liability and willing to pay. Any advice welcome.

Samhaines

PS sorry my auto spell has been busy.
Was meant to be on the pcp is 10,000 a year the car had already done 4800
And it caught fire not fought and the post won't let me edit

System

Ideally it should be the manufacturer who is paying up and if they don't then the finance company. Might be an idea to complain to the FSA Ombudsman.

Smellyonion

The mileage has nothing to do with it, is there a contract that said if you exceed the mileage, it'll blow up? I doubt it. If you went over then they may be entitled to deduct that money from any money they owe you as the car is worth less than it should be due to the extra miles.

You are talking a few hundred pound here and it would be quite poor for them to do that considering the circumstances.

Samhaines

The manufacturer are willing to pay the bill but they won't pay me they have to go threw an insurance or finance company is what they said to me. But don't no why the finance are fussing when they'll get there money back unless they think the care can be repaired witch I know 100% it can't

neilmcl

Samhaines wrote: »

The manufacturer are willing to pay the bill but they won't pay me they have to go threw an insurance or finance company is what they said to me. But don't no why the finance are fussing when they'll get there money back unless they think the care can be repaired witch I know 100% it can't

You don't own the car, the manufacturer does. Any payment will go to the finance company to settle the finance first.

wgl2014

The only issue I can see is if the manufacturer agree the car is not economically viable to repair and pay out based on the market value. This will be less than if you were within the agreed mileage so you may need to pay any shortfall.

AdrianC

I'm not sure what the issue is here.

The insurer pays the market value of the car at the time of the fire. The mileage forms part of determining that market value.
The insurer's pay out goes to the finance house.
If the financier's settlement figure is higher than the payout, then if you have gap insurance, it fills that gap - otherwise you fill that gap. The contracted mileage will form part of the financier's settlement figure.



If you want to try to make the manufacturer pay, then good luck...
Any gap between finance and settlement is not their problem.
If the insurer think they're liable, then the insurer will take the case to them.

It'll require full post-fire forensics to prove the cause is a manufacturing defect.

Samhaines

The manufacturer have agreed to pay what ever price is given and composition so no issues on that as it's a 2016 car but the financial ombudsman has advised me to go down the route of asking for a refund from the finance company as they are classed as owning the car and selling it. But with the millage I was working it out from when I had it back march 2017 iv only put 19,200 on it the 4.800 was before I got it so I haven't gone over the agreed limit witch the dealers confirmed for me. Plus iv been left with out are car since July 13th and I live in middle of nowhere

Cornucopia

What money is due?

Was there Gap Insurance?

Samhaines

Please if people are going to reply read the comment the manufacturer have agreed to full liability and to pay what ever is needed as the car catching fire was not my fault.