Car finance and agreement refunds

clairew37

Hi, my ex (not married) supported me to buy a car in 2006 by signing the finance agreement, which included PPI. All related documents are in my name and I paid the amount in full. Am I entitled to the compensation if he states in writing that he agrees to any refunds being processed in my name? Thanks in advance.

MyRealNameToo

clairew37 said:

Hi, my ex (not married) supported me to buy a car in 2006 by signing the finance agreement, which included PPI. All related documents are in my name and I paid the amount in full. Am I entitled to the compensation if he states in writing that he agrees to any refunds being processed in my name? Thanks in advance.

No as it was his finance, he may be entitled to a compensation if there was some form of miss-selling involved and it would be between the two of you if he passes it over or not. 

PPI is irrelevant, the boat to claim that sailed a long time ago.

born_again

This has nothing to do with consumer rights. This is FCA issue.

As a aside hope finance co were aware as this is something many do not allow. As any credit checks for the person the car is for being avoided.

clairew37

Not sure why this is a FCA issue?

They were fully aware, and also aware of the circumstances at the time.

born_again

clairew37 said:

Not sure why this is a FCA issue?

They were fully aware, and also aware of the circumstances at the time.

Because they are the one that brought this issue forward. 
Any refund that the finance might pay out, would go to who took the finance out. 

clairew37

Thank you. I'm aware any pay out would go to who took the finance out. My question is if this can be rescinded, under consumer law, in favour of the person who paid for it.

retiredbanker1

clairew37 said:

Thank you. I'm aware any pay out would go to who took the finance out. My question is if this can be rescinded, under consumer law, in favour of the person who paid for it.

You have the right to sue the other party??

Ayr_Rage

@clairew37 what compensation do you think you may be entitled to?

If the finance was taken out in 2006 then it is before the period that the FCA is considering for discretionary commission etc and as above, the PPI ship has long sailed over the horizon.

clairew37

retiredbanker1 said:

clairew37 said:

Thank you. I'm aware any pay out would go to who took the finance out. My question is if this can be rescinded, under consumer law, in favour of the person who paid for it.

You have the right to sue the other party??

Thank you but that's not an avenue I'm interested in pursuing.

Ayr_Rage

There is no CONSUMER law for the redress you may be seeking as far as I can see.

clairew37

Ayr_Rage said:

@clairew37 what compensation do you think you may be entitled to?

If the finance was taken out in 2006 then it is before the period that the FCA is considering for discretionary commission etc and as above, the PPI ship has long sailed over the horizon.

Thank you for your reply, I'm aware of the PPI situation. As I understand it, the FCA didn't anticipate people still having their paperwork pre their consideration period, which I do. I was intending to make enquiries regarding this but only if I can find an answer regarding any rights, under consumer law, in rescinding any compensation payments if you sign an agreement but don't pay for the goods.