MSE News: Car finance mis-selling investigation expected to find wrongdoing, regulator says

MSE_Petar

It's "improbable" that a major investigation into hidden, unfair car finance commission will find no evidence of wrongdoing, the boss of the financial watchdog behind the probe has said. It's another indicator that millions of drivers could be in line for payouts.

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'Car finance mis-selling investigation expected to find wrongdoing, regulator says'

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BoGoF

Great idea - start another thread for the bandwagon.

I'm sure somebody somewhere must be making money on the 'tool' seeing how often this is mentioned.

DullGreyGuy

MSE_Petar said:

It's "improbable" that a major investigation into hidden, unfair car finance commission will find no evidence of wrongdoing, the boss of the financial watchdog behind the probe has said. It's another indicator that millions of drivers could be in line for payouts. 

Where is the evidence that it's millions? There was nothing in the speech to say it would be large volume, indeed he criticised certain channels claiming it is another PPI saying it's not that scale. Red top fantasy reporting still 

dunstonh

BoGoF said:

Great idea - start another thread for the bandwagon.

I'm sure somebody somewhere must be making money on the 'tool' seeing how often this is mentioned.

If its resolver, then yes that does earn money.

Nasqueron

BoGoF said:

Great idea - start another thread for the bandwagon.

I'm sure somebody somewhere must be making money on the 'tool' seeing how often this is mentioned.

If it's running off Resolver, MSE sells your data to private companies to use to improve complaint handling. This is anonymised though given their complaints template about car lending seem to be sending DSARs to every finance company (not necessary for the complaint) and the number of mistakes it was making during the PPI bandwagon, I wouldn't use it, I would just complain directly

Edit - ref below, I have corrected the above post to be clear there is a separate forwarding template away from Resolver. Point remains about resolver though

Rockfish

Hi just to let anyone else who has registered a claim using the MSE tool against Santander that they replied to my 2019 PCP enquiry a few days ago saying they are not liable. Anyone else heard from them?

MSE_JC

Hello all,

There appears to be a few misconceptions about MSE's car finance tool which we’d like to address.

Firstly, we refer you to this message at the top of the tool:

Secondly, to this section of MSE's 'how this site is financed' page:

"We don't track individuals' data (unless we've asked you, where it's necessary for a specific service, such as Cheap Energy Club). Nor will we ever sell it to third parties, or pass it to MoneySupermarket, without the individual user's permission."

https://www.moneysavingexpert.com/site/moneysavingexpert-finance/

MSE's car finance reclaim tool is not linked to Resolver in any way. No personal data entered into the tool is collected by MSE. The details entered are simply used to fill in various relevant parts of the email template which gets generated. We do record the number of generated email templates targeted at each provider, but this is not linked back to any individual's data.

However, at the bottom of the tool users may choose to provide their email address to opt into the weekly MoneySaving email and/or get ad-hoc updates about car finance reclaiming (which may include updates about specific firms). In the instance of the latter, the email address is stored along with the name of the provider so that provider-specific updates can be sent to the relevant users.

To clarify, MSE are not selling or providing personal information from the car finance reclaim tool to third parties. The purpose of the tool is to help people easily generate wording for an email which they can then choose to send to their car finance provider.

We hope that answers any queries about the use of data in the tool. For further information, you can find MSE's privacy policy here:

https://www.moneysavingexpert.com/site/privacy-policy/

Thanks,

MSE JC

Nasqueron

Rockfish said:

Hi just to let anyone else who has registered a claim using the MSE tool against Santander that they replied to my 2019 PCP enquiry a few days ago saying they are not liable. Anyone else heard from them?

Did they sell you a product?

Mis-selling is a complaint about the seller - if Santander were simply the finance provider and someone else used them for your finance, they are normally not liable. As an example, I had Santander for PCP on my car, the finance was sold by the Mazda garage so any mis-selling (in my case not, I was on 0%) would be a complaint to Mazda

RhodSinger

Had this reply from BMW finance: "We are therefore not treating this as a Data Subject Access Request (DSAR) under the GDPR. For clarity, the commission arrangement would not be disclosable within a DSAR as it is not Personal Data". What are they talking about?

DullGreyGuy

RhodSinger said:

Had this reply from BMW finance: "We are therefore not treating this as a Data Subject Access Request (DSAR) under the GDPR. For clarity, the commission arrangement would not be disclosable within a DSAR as it is not Personal Data". What are they talking about?

Read the letter you sent them, you presumably would have done so before sending it so your question is odd.

assuming you sent the weirdly worded letter this site generates for you in which case you told them you want to complain about DCA and if they cannot answer about DCA in 28 days you want to do a DSAR under GDPR. 

The wording is really bad, so they've simply said they aren't treating it as a DSAR. So in theory you could simply submit a DSAR without all the rest of the junk but they are pre-empting that by stating that a response to such a request won't disclose what the commission basis was. 

A DSAR is the process under data protection laws that allows an individual to ask for a copy of the information a company holds on you personally. What commission basis was on isn't personal to you so wouldn't be included.


It is really scary that people send these templated letters without reading or understanding what they are saying... if someone wanted to cause mischief they could really easily cause problems for people

dunstonh

RhodSinger said:

Had this reply from BMW finance: "We are therefore not treating this as a Data Subject Access Request (DSAR) under the GDPR. For clarity, the commission arrangement would not be disclosable within a DSAR as it is not Personal Data". What are they talking about?

I'm guessing you used the flawed MSE template?  Did you actually read it before you sent it? They are replying to exactly what you requested.  

The information you are after is not contained within a DSAR.  So, doing a DSAR is just a waste of everyone's time and money.