Can we believe them??

CamberleyChris

I had an agreement with VWFS Ltd and have received the following reply “Thank you for contacting us regarding the commission model used on your agreement. We have investigated and can confirm that a discretionary commission arrangement was not used on your agreement.”  My question is what are my next steps.  I’m not sure whether I should just accept what VWFS Ltd have said.  I note that VWFS Ltd were one of the biggest lenders complained to via MoneySavingExpert’s car finance tool.  Any advice that you can provide would be much appreciated.  Thanks

BoGoF

They weren't the most 'complained' about - they were one of the biggest that hundreds of thousands have taken a speculative punt on (including some that had 0% deals). As one of the biggest players in the market they are going to receive their fair share.

Despite what 'Martin' says there are many thousands wasting their time and the finance companies time as 1) they didn't have DCA and 2) the FCA have still to make a decision.

With this decision impending on a regulated industry do you really think they are going to bare faced lie.

Unless you have evidence that your agreement did have DCA or VWFS have at some point in the future been found to have misled people then you do nothing but accept what they say..

DullGreyGuy

CamberleyChris said:

I had an agreement with VWFS Ltd and have received the following reply “Thank you for contacting us regarding the commission model used on your agreement. We have investigated and can confirm that a discretionary commission arrangement was not used on your agreement.”  My question is what are my next steps.  I’m not sure whether I should just accept what VWFS Ltd have said.  I note that VWFS Ltd were one of the biggest lenders complained to via MoneySavingExpert’s car finance tool.  Any advice that you can provide would be much appreciated.  Thanks

Because they are one of the largest car companies and all their dealers will use them for new and used cars. 

Advice? Get on with your life. Unless you are accusing them of fraud and have evidence to back it up they have given you the answer, there was no DCA in place and so your not in scope 

Obviously dont complain next time you get a quote for finance on a car and its increased because of all these time wasting letters that are increasing companies costs that will ultimately be passed on to future borrowers.