Car finance reclaim

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Beaverhouse
Beaverhouse Posts: 1 Newbie
edited 15 February at 12:38PM in Reclaim car finance
Hi
I am trying to complete the Car finance reclaim template. However, the vehicle that I had finance on was with Carlisle Finance Limited who no longer exist. Has anyone come across this before and I wondered if anyone knows who their finance book was sold to.
Many thanks 
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  • MSE_ForumTeam5
    MSE_ForumTeam5 Posts: 1,018 Community Admin
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    We've moved this to the newly created board for car finance queries.
    Official MSE Forum Team member. Please use the 'report' button to alert us to problem posts, or email forumteam@moneysavingexpert.com
  • dunstonh
    dunstonh Posts: 116,598 Forumite
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    and I wondered if anyone knows who their finance book was sold to.
    What makes you think they sold their book and the new owner took on liability for the original sales?  (mergers can see liability shift over but buying of books usually doesn't).

    There is no company of that name having been authorised or regulated by the FCA.   So, any FCA ruling wouldn't apply to them.

    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.
  • Chemical_Grrl
    Chemical_Grrl Posts: 62 Forumite
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    edited 15 February at 4:36PM
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    They were called Carlyle Finance, I also had car finance with them from 2008 to 2011 and am wondering if/how I can look into claiming anything back, I believe they are now Moto Novo Finance, does anyone know if I can still submit a claim? 
  • Chemical_Grrl
    Chemical_Grrl Posts: 62 Forumite
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    I've found the answer to my own question, see https://customer.motonovofinance.com/discretionary-commission-arrangement-complaint
  • DullGreyGuy
    DullGreyGuy Posts: 10,903 Forumite
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    edited 15 February at 4:44PM
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    When did you buy the car? Motonovo Finance was only incorporated in 2018.

    An entity called Carlisle Finance was dissolved in 2016 so the dates don't tie up and as already explained, buying a book of business doesn't necessarily transfer the liability and will only be the active loans not those already paid off
  • Chemical_Grrl
    Chemical_Grrl Posts: 62 Forumite
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    I bought in 2008, it was definitely Carlyle Finance, I've found the name on an old bank statement
  • DullGreyGuy
    DullGreyGuy Posts: 10,903 Forumite
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    Was it paid off by 2012 when some form of transfer happened? If it had your likely still with the now dissolved company. 
  • Chemical_Grrl
    Chemical_Grrl Posts: 62 Forumite
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    Yes it was paid off in 2011, I'm still going to complain to MotoNovo, nothing ventured nothing gained
  • Nasqueron
    Nasqueron Posts: 8,998 Forumite
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    Chemical_Grrl said:
    Yes it was paid off in 2011, I'm still going to complain to MotoNovo, nothing ventured nothing gained
    You're going to complain you were miss-sold something to a company you had no contract with, who didn't sell you anything, thus aren't liable, without knowing if they operated a DCA and have no records of? It would be a long shot for sure
  • Chemical_Grrl
    Chemical_Grrl Posts: 62 Forumite
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    Everything I have found online says the change of name was a rebranding exercise so why shouldn't I complain?
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