Car Finance Claims.....

johnlbh
johnlbh Posts: 3
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edited 13 February at 3:02PM in Reclaim car finance
I'm a little stuck on if i can actually claim against anyone as its been that long now and I don't have paperwork.

As its been reported the last few days about the claims towards the dealers / finance companies. 

I purchased a car in Nov 2009 on a 5 year agreement. The finance firm was bought out about 6-8 years ago and the car dealership has been bought out.... so I'm looking for advice if anyone can helps.... can i contact one of the owners of these firms, are they responsible for the previous owners actions?

TIA 

Comments

  • DullGreyGuy
    DullGreyGuy Posts: 8,935
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    johnlbh said:
    I purchased a car in Nov 2009 on a 5 year agreement. The finance firm was bought out about 6-8 years ago and the car dealership has been bought out.... so I'm looking for advice if anyone can helps.... can i contact one of the owners of these firms, are they responsible for the previous owners actions?
    Depends on what's actually happened from a legal perspective... did they actually buy the company or did the just buy their in-force book of business and maybe brand names. What's happened to the legal entity since the sale?

    You need to check the legal entity name (and ideally number) of the finance provider and then get over to Companies House to see if it still exists, current owner etc. 
  • Hi. I’ve completed the hidden commission form and emailed it via MSE as suggested. I know some banks etc are acknowledging receipt but mine has not. Should I expect a response? Thanks.
  • dunstonh
    dunstonh Posts: 115,612
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    Hi. I’ve completed the hidden commission form and emailed it via MSE as suggested. I know some banks etc are acknowledging receipt but mine has not. Should I expect a response? Thanks.
    The FCA has suspended complaints about motor finance.  Firms are just stacking them up until Autumn when the FCA report is out.     You would expect most to acknowledge them but with the complaints process suspended, there is no hurry.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Nasqueron
    Nasqueron Posts: 8,281
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    Hi. I’ve completed the hidden commission form and emailed it via MSE as suggested. I know some banks etc are acknowledging receipt but mine has not. Should I expect a response? Thanks.
    Better to make your own thread in future for reference if you need more help so people don't get mixed up

    Do note that there is no issue with hidden commission, only if there was the DCA model of variable commission and then only if they inflated your deal for more money
  • I got a complaint in before this all came out  on the show . I took it to the ombudsman and won a big payout . Definitely worth pursuing 
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