Car finance claim - Cant remember any details other than registration number

Hello,
We had a car on finance some years ago from a small local garage (which is no longer trading) around 2008-2009 i think. I cant find any paperwork for it & can't remember the name of the finance company, the only thing i still remember is the registration number.  I do remember the interest on the finance was something extortionate like 40%, had bad credit at the time but it was all we could get. Would it be worth going through one of the 'no win - no fee' companies to see if we could claim? Could they find any details for the agreement from just the reg number & our address at the time? Thanks in advance for any help 👍🏻

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  • dunstonh
    dunstonh Posts: 119,160 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Would it be worth going through one of the 'no win - no fee' companies to see if we could claim?
    The FCA is looking at a section 404 redress scheme.  That will force finance companies to automatically refund people where applicable.     So, paying a CMC to do nothing but take 30-40% of your redress (if you are due any) would be a really silly thing to do.


    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.
  • Nasqueron
    Nasqueron Posts: 10,450 Forumite
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    AdamLee76 said:
    Hello,
    We had a car on finance some years ago from a small local garage (which is no longer trading) around 2008-2009 i think. I cant find any paperwork for it & can't remember the name of the finance company, the only thing i still remember is the registration number.  I do remember the interest on the finance was something extortionate like 40%, had bad credit at the time but it was all we could get. Would it be worth going through one of the 'no win - no fee' companies to see if we could claim? Could they find any details for the agreement from just the reg number & our address at the time? Thanks in advance for any help 👍🏻
    The claims firms have no special access or information that you have, they just do it using the same free process. At best they will send loads of emails out and hope something sticks

    The APR is moot here - the issue was lenders increasing your APR for more commission for sales, if it was bad credit, trying to get you finance at all would suggest increasing the rate was a bad idea

    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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