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Car finance deal deposit not taken off
Hi
I’m checking my 2009 car finance agreement for DCA (confirmed to apply to my agreement), I also found that the £500 deposit I paid was not accounted for in the finance agreement. I.e. my finance agreement was £500 too much.
Will this be dealt with as part of my DCA complaint or do I need to raise a separate complaint?
Comments
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No it won’t be.
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The time to check the agreement was correct was in 2009 and your issue isn't covered by the DCA scheme.
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To be honest, it was a lot of smoking mirrors with fees etc and all incredibly confusing at the time! Is there any other route via which I can raise this now and get a refund?
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Yes. You can raise a complaint the conventional way. They may time bar you though.
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.1 -
FYI also it's smoke and mirrors, not smoking mirrors
As above, the 3 and 6 year time bar rules are likely to be invoked, if so then your complaint is over as they are legal hard stops
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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