Car Finance, Voluntary Termination, PPI

smitchy73

Can anyone clarify if i'd still be entitled to claim for PPI mis-sold even though I voluntarily terminated my car finance and returned the car to the Finance company as per legal rights of the buyer?

I've had first reply back as in other posts, and telling me where to go with full blah, blah explanation.

I found a letter from them when I was terminating to say that although I was terminating I still had to pay the Insurance's in FULL, which I did, even though I was only 1 year in to a 3 year cover.

Anyone of you experts help or answer this one, I've treated it like any other Single Premium PPi in that regardless of settling a loan or a car finance deal, or in this case returning the car ends the finance deal early. So should have the same entitlements, I think is it under the Unfair Credit Regs 1999??

Cheers all

:beer:

smitchy73

bump this up again

petermb_2

They did what I expected them to do, Fob you off.
Sadly they will not escape that easily.

smitchy73

Got letter back from First Response, giving me a full brekadown of the costs between the car finance and payments made and the optional insurance with payments and rebates received.
Would this rule me out of a claim back??

petermb_2

not in my book

smitchy73

Peter,
Can you recevie the forms electronically, if so I can send them to you for you to look through or do you need other paperwork filled in first?

petermb_2

I will gladly have a look at them if you email them to me.

MortgageMamma

Don't mean to hijack thread but I could do with some help on this matter myself

my hubby took a car on finance from welcome a few years ago, and about a year later we paid off the finance. however we refused to pay the £600 balance for lump sum PPI insurance as he was forced to take it at the time to get the credit (I was not with him!)

As we have not paid off the £600 lump sum ppi, welcome will not cancel the credit contract and have charged us interest every month assuming we never paid off the cost of the car in the first place.

It shows on his credit file as being paid every month on time, but it still shows a balance owing of £3,500!!

I have neglected to deal with this for about 12 months now as I just don't know what to do - and I have no motivation to take them on....

can anyone tell me if what they are doing is legal and if there is a way to get out of this as soon my DH will need to buy a new car and having this one showing on credit file as active isnt helping, and I am worried we will have to cough up another 3.5k

Any help much appreciated

MortgageMamma

can anyone help with this?

smitchy73

You should read through Martin's details about the mis-selling of PPI and see what best fits your own predicament, then fire off a letter to Welcome, if you spend some time searchign through the threads you will see there has been positive outcomes with them.

As for the outstanding £300 not sure whether you should pay that and obviously claim back the whole amount from them, or just send the letter claiming the mis-sell or misrepresentation aspect, but read the article and the threads on here for more help.

smitchy73

I've now had another letter back from the finance company and again they are disputing it was mis-sold and it was sold with my best intentions, they also say that even though I may have received long term sick pay from my employer their insurance didn't have any time limit on it etc etc.

Don't know if it's worth chasing anymore etc etc, I know I always try to be upbeat and positive to everyone else, but until you get it in the teeth yourself you always think positive.

Any words of advice etc, can't go to FOS as they weren't ruled by them and it's the FLA I have to go to I suppose or Court!!