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PCH claim ALD Automotive
Hi all, I looked into the FCA's compensation scheme and saw it doesn't apply to PCH contracts. Looking online I've found individual cases where people said it was still worth writing to companies to see if they charged hidden commission. I'd like advice with this in mind.
PCH via Yes Lease in early 2020. 2yr PCH between July 2020 and June 2022. ALD Automotive were the finance company. I have the paperwork and reference numbers, as well as bank statements showing payment etc..
Can anyone advise the likelihood of this being a viable enquiry? I can see I paid Yes Lease a £240 broker fee, but I have no reason to suspect or believe hidden commissions. I only ask as I want to ensure I'm not missing something I'm entitled to.
thanks in advance
Comments
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PCH is a consumer hire agreement rather than a credit agreement under the Consumer Credit Act 1974
So, no, it is not viable.
Hidden commission is allowed except when the agreement comes under the Consumer credit act.
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.0
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