Mis-sold PCP Car finance...

LondonTaxiSimon

I have today been contacted by a company(through my taxi trade body) who stated that I may have a claim against the company I financed my Taxi purchase through.

They mention that I may have been mis-sold the finance stating that one or both reasons may apply to me either,
1.Insufficient credit checks or background checks may not have been carried out before agreeing the finance or
2. That a commission or agents fee has been added to the finance for ‘arranging it’ without my knowledge.

They suggest a report be generated(probably chargeable) to check my eligibility and they can help with my claim(no doubt for a substantial fee) but my question is(similar to PPI) can I self-claim and if so, any hints, tips or resources on how would I go about it.
TIA

Herzlos

1. Can you afford the payments or think that a deeper credit check would have caused them to reject the finance?

2. Does the paperwork mention an arrangement fee that you weren't aware of?

[Deleted User]

How would 2) work in the real world? You agree to buy a taxi let's say £20k
Finance is say £5k on top so 25k
You get a finance agreement for £25,500 with no details as to what the £500 is - you immediately reject it and their "hidden" fee is revealed, you complain to the regulator, scheme ends

Just ambulance chasers throwing mud around and hoping something sticks

Just because they claim there is miss-selling doesn't mean you have anything to complain about

You want a tip - read your paperwork and see if the numbers add up and then ask them where this fee is going to be hidden

McKneff

They are reeling you in....

Grumpy_chap

On top of the comments by others, you purchased a taxi so this is a business transaction and many of the consumer protections will not apply.  Makes a successful mis-selling claim far less likely to succeed.

Why are your trade body passing your details to claims companies?  

molerat

Grumpy_chap said:

Why are your trade body passing your details to claims companies?  

I think that is fairly obvious ...... ££££££££££

Grumpy_chap

molerat said:

Grumpy_chap said:

Why are your trade body passing your details to claims companies?  

I think that is fairly obvious ...... ££££££££££

Does GDPR not apply?

molerat

Grumpy_chap said:

molerat said:

Grumpy_chap said:

Why are your trade body passing your details to claims companies?  

I think that is fairly obvious ...... ££££££££££

Does GDPR not apply?

Likely covered by a "sharing details" clause in the terms.

[Deleted User]

DPA applies. Data usage will be detailed in the Privacy Policy.

phillw

LondonTaxiSimon said:

2. That a commission or agents fee has been added to the finance for ‘arranging it’ without my knowledge.

I assume they mean that it's included in the interest, because you should have received a full break down of what you were paying before you took out the finance.