PCP

sarah_rowan

Wondering if I could get any sort of insight on what I’m able to do or if anything is able to be done. 

I had a car on HP through Evans Halshaw, I had this for roughly 2 years until I wanted a change and seen a nice car at the same garage I got this from. So went in, test drove it loved it and asked if we could basically trade and start a fresh, he said he will try every which way possible to get it for me. He done it and I signed for it, nothing was mentioned about the finance. I had my mum there with me and she can vouch for this. I had this for about a year until I fell pregnant and it was no use (was a 2 seater) so we sold it to a garage and we paid off the remainder of the finance. Upon doing this we found out it was on PCP?! I thought something could be done for the miss selling of the PCP but this was in 2018 when I sold it so there wasn’t any information about miss selling of PCP about. However recently I’ve been seeing a lot about the miss selling of PCP and also other miss selling within car finance. However I no longer have the paper work for both of the cars. 

Where do I stand? Do I have any sort of claim I can do? 

Thanks! 

[Deleted User]

sarah_rowan said:

Wondering if I could get any sort of insight on what I’m able to do or if anything is able to be done. 

I had a car on HP through Evans Halshaw, I had this for roughly 2 years until I wanted a change and seen a nice car at the same garage I got this from. So went in, test drove it loved it and asked if we could basically trade and start a fresh, he said he will try every which way possible to get it for me. He done it and I signed for it, nothing was mentioned about the finance. I had my mum there with me and she can vouch for this. I had this for about a year until I fell pregnant and it was no use (was a 2 seater) so we sold it to a garage and we paid off the remainder of the finance. Upon doing this we found out it was on PCP?! I thought something could be done for the miss selling of the PCP but this was in 2018 when I sold it so there wasn’t any information about miss selling of PCP about. However recently I’ve been seeing a lot about the miss selling of PCP and also other miss selling within car finance. However I no longer have the paper work for both of the cars. 

Where do I stand? Do I have any sort of claim I can do? 

Thanks! 

No you have no standing, no claim. You took out PCP on a car, that is what car finance is through a dealer. You were not miss-sold anything. The current scam for claims companies pretending PCP was miss-sold is just a fishing exercise that will not change anything

aoleks

please don't take this the wrong way, but do you actually read a contract before signing it? do you even care to understand what you're signing?

the mind boggles that people don't know exactly how PCP works before taking it out, let alone take it out.

I don't know, but when I see something I don't understand, my first human instinct is to ask, google it, search on wikipedia or try to figure it out myself.

penners324

I don't see how you've been missold.

Did the finance agreement show a balloon payment at the end of the contract? 

If so then that's PCP.

sarah_rowan

Considering the guy that sold me the car on PCP was fired for reasons along my problem I’d pretty much say that I was miss sold quite a bit! I got in touch with Evans Halshaw when I found out that it was PCP and they told me he was no longer there etc. 
Yes I read contracts but unfortunately I’m not as clued up as most when it comes to all of this legal stuff. So unbeknown to me and being that excited to get this new car I just signed for it without it being explained properly to me. I had no clue between the differences, if it had of been explained to me I would of understood more, none of this lingo backward wording bull that is in contracts. 

Anyways thanks everyone for answering my question I’m obviously just a young dumb idiot! 

[Deleted User]

sarah_rowan said:

Considering the guy that sold me the car on PCP was fired for reasons along my problem I’d pretty much say that I was miss sold quite a bit! I got in touch with Evans Halshaw when I found out that it was PCP and they told me he was no longer there etc. 
Yes I read contracts but unfortunately I’m not as clued up as most when it comes to all of this legal stuff. So unbeknown to me and being that excited to get this new car I just signed for it without it being explained properly to me. I had no clue between the differences, if it had of been explained to me I would of understood more, none of this lingo backward wording bull that is in contracts. 

Anyways thanks everyone for answering my question I’m obviously just a young dumb idiot! 

A guy being fired (which I doubt the dealership told you was for miss-selling, not least because it's a huge HR issue) doesn't mean you got miss-sold. Again, the PCP "miss-selling" thing that they're trying to do now, alongside the "dieselgate" nonsense, is that people were deliberately sold PCP with higher APR than they needed for a supposed kickback from the lender - PCP itself is not, never has been, and never will be, subject to a blanket miss-selling complaint on the basis that if you had it, you could be miss-sold.

What do you think the different types of car finance are that allow you to pay for the car over time? You get a loan, or you get HP/PCP (the difference being PCP allows you to trade on the car for a new one at the end or just return it after you pay 50% of the total cost), there isn't some alternative. What did you think you were taking out? The only other ways to pay for cars are things like leasing which means you don't get to keep the car, or paying in cash. Further, PCP sometimes meant you got better options like manufacturer contributions or discounts.

dunstonh

Upon doing this we found out it was on PCP?

That is how most cars are done nowadays.

Considering the guy that sold me the car on PCP was fired for reasons along my problem I’d pretty much say that I was miss sold quite a bit! 

I think you need to explain to us why you think you were missold.  I have bought most of my cars on PCP and know the process well.   I am struggling to see how you can be missold but until you tell us why we wont know.

Also, how do you know that he was fired for PCP misselling?    The reason someone is dismissed should not be in the public domain in most cases.  So, how do you know?

So unbeknown to me and being that excited to get this new car I just signed for it without it being explained properly to me. I had no clue between the differences, if it had of been explained to me I would of understood more, none of this lingo backward wording bull that is in contracts. 

Ok. So you buy a car costing £xx,xxx.  you either pay £xx,xxx or you borrow money to pay for it.  Borrowing money costs more but spreads the cost.  So, with PCP, you pay your deposit at the start and the balance payment at the end and a monthly amount in between.   So, what bit of that has confused you enough to claim it was missold?

sarah_rowan

I know he was fired because I was pretty close to someone who actually worked there at the time. I said reasons along the lines of what I experienced not exactly PCP. 

All I was asking was if there was any information out there, this was 2018, so 4 years ago now and I had just seen some ads about it recently. I don’t need to be jumped at by people a simple yes or no would of been good enough. I couldn’t care a less if I had a claim or not, it was just the simple fact of seeing companies out there claiming this and that about pcp and car finances I thought I’d ask that’s all!! 

Of course in 2018 after finding out it was pcp I new the difference. But it was NOT explained to me properly by the guy that sorted out the agreement, and considering I was young you'd of thought someone like a sales person in this field would have the decency to explain it all! 

I’ll try and close this thread as obviously it’s triggering a lot of yous, try not to lose any sleep over my pretty simple question. 

[Deleted User]

sarah_rowan said:

I know he was fired because I was pretty close to someone who actually worked there at the time. I said reasons along the lines of what I experienced not exactly PCP. 

All I was asking was if there was any information out there, this was 2018, so 4 years ago now and I had just seen some ads about it recently. I don’t need to be jumped at by people a simple yes or no would of been good enough. I couldn’t care a less if I had a claim or not, it was just the simple fact of seeing companies out there claiming this and that about pcp and car finances I thought I’d ask that’s all!! 

Of course in 2018 after finding out it was pcp I new the difference. But it was NOT explained to me properly by the guy that sorted out the agreement, and considering I was young you'd of thought someone like a sales person in this field would have the decency to explain it all! 

I’ll try and close this thread as obviously it’s triggering a lot of yous, try not to lose any sleep over my pretty simple question. 

Triggering lol, this isn't social media, you asked a question and you were given a response which explained why there is no claim, just saying no isn't helpful

Being given reasons for a firing is what I said I doubted you got, if you did, the company doesn't understand HR or GDPR

You're making an allegation that in 2018 you signed up for a finance package without being told it was PCP - the question again is, what did you think it was? You're making a claim based on your memory, while the company would have paperwork proving you were explained it in detail as you'll have signed to say so.

I would suggest also that you consider that people like a car salesman aren't going to have your best interests at heart

Grumpy_chap

sarah_rowan said:

you'd of thought someone like a sales person in this field would have the decency to explain it all! 

That would be nice irrespective of the age of the customer.

Sadly, most people employed in a sales role are under pressure to seal-the-deal irrespective of any other outcomes, and the employee's mortgage payments that month often depend upon it.  No matter how nice the individual is, the reality of "sell or fail" soon bites and changes their character (at work at least).