Car Finance company issue

Paggy

Hello, had a car finance several years ago which was very over priced and positive meets the criteria for the reclaim, but the finance firm was dissolved and now they trade under a variation of the name I had with the finance and refusing my claim, do I have any action I can take.?

DullGreyGuy

Paggy said:

 the finance firm was dissolved and now they trade under a variation of the name 

A company cannot both have dissolved and be trading under another name by definition. So what was the name of the legal entity you were in contract with, ideally including its company number or FCA/FSA registration number?

Probably like most people, wait until the end of September when the FCA will announce the findings of their investigation and what action they are requiring firms to take. Its likely that those whose lender has subsequently dissolved will have no claim. 

Paggy said:

Hello, had a car finance several years ago which was very over priced and positive meets the criteria for the reclaim

Vey over priced and the fact you signed rather than shopping around for another offer sounds much more likely to be a price increased due to bad credit history rather than dealer inflating the APR to get more commission.

Nasqueron

Paggy said:

Hello, had a car finance several years ago which was very over priced and positive meets the criteria for the reclaim, but the finance firm was dissolved and now they trade under a variation of the name I had with the finance and refusing my claim, do I have any action I can take.?

Do note that having high interest rates doesn't mean miss-sold or indeed, that there was any wrong doing on behalf of the sales team - some people's credit checks just flag up for high rates because they are deemed high risk. The issue is only if the firm used the DCA model AND inflated your rate for more commission e.g. qualify for 4, put forward at 9, then pretend you got a "saving" by haggling with the boss and giving you 6.5% - so you think you paid less and they scammed you. If you got 15% because your credit file was poor, it's quite possible the rate was legitimate