3 months on us Skoda UK con

AlyLouM79

Did anyone else purchase a car from Skoda UK in 2020 when they were offering to make the first three months payments on your behalf? I was maniplulated into taking a finance agreement that I did not want nor need (as had the cash) purely based on the offer that Skoda would make the first three pamyments. The salesman specified it was unlike other dealers who were only offering a payment holiday, Skoda were actually making three payments so if I took the finance and paid it off after three months, I would save around £1000. When I requested a settlement figure (6 months ago) it was more than the opening balance of the credit and I have since been advised it was just a payment holiday and no payments were made by Skoda. Since January, I have spoken to the financial ombudsman, Skoda finance, Skoda UK, the dealership where I purchased the car and back to Skoda UK (who said they would step in if I could not get a resolution direct with the dealer), but do not seem to be getting anywhere. Having read recent reviews online there are a few others who have tried to settle and realised they are suffering the same issue but there must be hundreds/thousands of people who took the finance and will pay it for the term of the agreement, who may never notice the discrepency. Can anyone offer any help or advise please? I am at my wits end!! 

JJ_Egan

Find the relevant advert may help as you say payment They say payment holiday .

wesleyad

Its definitely an offer they did advertise, here is one dealership offering it. Can you see if you can get an archived page from your dealership? 

https://web.archive.org/web/20200922230511/https://www.whitedovegroup.co.uk/skoda/offers/new/

whereas the live page says "defer payments"

https://www.whitedovegroup.co.uk/skoda/offers/new/

and this comes archived from that page on google:

Jenni_D

I remember hearing such adverts (not just from Skoda), and it was clear (to me) that all such adverts were talking about payment holidays and not payments made by the financier. In other words, you didn't start your repayments until month 4. It was also clear that the interest started accruing from the start, so deferring payments meant a higher interest charge overall.

cymruchris

What does it say in the documentation that you signed before taking delivery of the car?

sheramber

https://www.youtube.com/watch?v=0HSbAdgKTLw

https://m.facebook.com/watch/?v=627157504858094&_rdr

https://www.facebook.com/watch/?v=268814417567456

https://johnmulhollandmotors.com/skoda/offers/570/go-payment-free-for-3-monthsacross-the-skoda-range

But

https://www.briskoda.net/forums/topic/483999-3-months-on-us-skoda-deal/

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Posted 20 August, 2020

Thanks for the reply, that’s a good idea. Initially I thought the offer meant Skoda would pay the 3 months for you, but looking at the numbers it seems to be more of a payment holiday, so it’s not as interesting for m

Sandtree

AlyLouM79 said:
Since January, I have spoken to the financial ombudsman, Skoda finance, Skoda UK, the dealership where I purchased the car and back to Skoda UK (who said they would step in if I could not get a resolution direct with the dealer), but do not seem to be getting anywhere. 

The FOS is the highest authority before the courts, and tend to be more consumer leaning than the courts. Presumably they have investigated your complaint and not upheld it? Did you reject that finding and request it be escalated to an ombudsman for review (noting the difference between "the ombudsman" in the form of the organisation as a whole or its CEO and an ombudsman which is a job title of a higher grade of staff whos decisions are binding on the financial institute)

molerat

You need to look carefully at the numbers on the agreement.  I think they may have given the value of (up to - read the blurb) the 3 payments as a deposit contribution then deferred payment for 3 months meaning the remainder was incurring full interest from day 1.