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DCA - Who was my Vehicle Finance With?
Nots001
Posts: 1 Newbie
In Sept 2019 I bought a new MG from a local dealer. The Finance Agreement was headed GMAC but MG Finance was mentioned in the sub print. It transpires that GMAC was insolvent at the time of the loan and in contacting Santander Consumer Finance (SCF ref MG Finance) they do not acknowledge the loan. On checking Bank Records it seems my payments were to Vauxhall Finance so SCF referred me to SCF Contract Hire who have no knowledge of the loan. Vauxhall Finance is also now insolvent. Can you guide me as to whom I seek DCA redress. Thank you
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Comments
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Just note that you do not "seek DCA redress" - you must have a) had it, b) had negative DCA and c) the FCA agrees anything should be refunded
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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