Lex Vehicle Leasing/ Lex Vehicle Finance/Lex Freechoice PPI

NX1977

Just wanted to double check I haven't missed anything with regards to this PPI claim

Lex Vehicle finance aka Lex Freechoice no longer exist as financial entities following Lloyds acquiring HBOS (2013?). Lex Autolease does which is a Black horse division of Lloyds

Paperwork I can find says Lex Vehicle finance was initially a joint venture between RAC & Halifax which then changed to a Bank of Scotland Company, and later a HBOS company.

The PPI element of the finance (Early termination Cover) was a St Andrews Group policy which was Halifax>BOS/HBOS and is now part of Lloyds

I've complained to all the various divisions of Lloyds (Halifax, Bank of Scotland, Lloyds, Black Horse (as it was Lex), MBNA (RAC finance)

Assuming any of these should flag up the PPI on the Lex finance? It was included and couldn't be removed under the lease/finance terms and conditions. GAP was also a requirement of the agreement as per the agreement I have

Have I covered enough bases?

Thanks.

[Deleted User]

NX1977 wrote: »

Have I covered enough bases?

If this was before January 2005 you have simply wasted your time covering all these "bases". Car dealers were not regulated prior to 2005 and can simply disregard any complaint.

NX1977 wrote: »

GAP was also a requirement of the agreement as per the agreement I have

You won't be refunded GAP insurance.

antrobus

NX1977 wrote: »

....

The PPI element of the finance (Early termination Cover) was a St Andrews Group policy which was Halifax>BOS/HBOS and is now part of Lloyds....

Are you sure that's PPI? I always thought that early termination insurance covered you against the cost of the early termination charge should you decided to get out of the lease.

But who knows? Insurance companies stick all kinds of labels on things.

NX1977 wrote: »

....
.... It was included and couldn't be removed under the lease/finance terms and conditions...
.

If it was actually compulsory, what would be your complaint reasons?

AnotherJoe

NX1977 wrote: »

Assuming any of these should flag up the PPI on the Lex finance? It was included and couldn't be removed under the lease/finance terms and conditions. GAP was also a requirement of the agreement as per the agreement I have

Have I covered enough bases?

Thanks.

Too many regards GAP. PPI is not GAP and GAP is not PPI. You might as well complain about your house or travel insurance. Nothing wrong with buying it except it's about 3x buying from a dealer

antrobus

NX1977 wrote: »

....

Lex Vehicle finance aka Lex Freechoice no longer exist as financial entities following Lloyds acquiring HBOS (2013?). Lex Autolease does which is a Black horse division of Lloyds

.

Actually, no. Lloyds TSB acquired HBOS in 2008. As a result HBOS's Lex was merged with Lloyds TSB's Autolease to form Lex Autolease.

https://www.fleetnews.co.uk/news/2009/5/28/lex-autolease-merger-confirmed/30700/

NX1977

antrobus wrote: »

Are you sure that's PPI? I always thought that early termination insurance covered you against the cost of the early termination charge should you decided to get out of the lease.

But who knows? Insurance companies stick all kinds of labels on things.



If it was actually compulsory, what would be your complaint reasons?

Paperwork clearly states its a finance agreement. More like a PCP under a personal lease banner it seems as it contained a balloon payment to buy the vehicle, or hand back (exactly like PCP).

Regards to the PPI/termination cover, I already had dedicated unemployment/sickness cover. No opportunity to get dedicated cover for the lease, if compulsory and part of the finance agreement, at a more competitive price.

Therefore no different to loans etc requiring PPI in order to be approved?

Ditto for the GAP element - but will deal with that later.

One finance agreement ran 2003-2007, the other 2007-2011

NX1977

antrobus wrote: »

Actually, no. Lloyds TSB acquired HBOS in 2008. As a result HBOS's Lex was merged with Lloyds TSB's Autolease to form Lex Autolease.

https://www.fleetnews.co.uk/news/2009/5/28/lex-autolease-merger-confirmed/30700/

So still covered by complaints to both Blackhorse and BOS it seems?

[Deleted User]

NX1977 wrote: »

Ditto for the GAP element - but will deal with that later.

You won't ever be refunded GAP insurance.

antrobus

NX1977 wrote: »

....

Therefore no different to loans etc requiring PPI in order to be approved?

Yup.

PPI was sometimes sold on the basis that it was compulsory when it was not. That would be a mis-sale. Lenders are not allowed to lie to customers, On the other hand if it actually was compulsory it wouldn't be a mis-sale, because it wasn't a lie.

In your case, you have already said that this insurance "was included and couldn't be removed under the lease/finance terms and conditions". So it really was compulsory.

antrobus

Actually, come to think of it, the one entity that the OP hasn't submitted a complaint to is Lex Autolease Ltd. Which is the LBG subsidiary that does car leasing, and the one most likely to have records of Lex leases active between 2003-2007 and 2007-2011.

Black Horse Ltd does car loans, not leasing. I don't think that any other LBG entity does car leasing.

[Deleted User]

antrobus wrote: »

Actually, come to think of it, the one entity that the OP hasn't submitted a complaint to is...

21 hours after the PPI complaint deadline it doesn't matter who he hasn't complained to....