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I am unsure if I've been missold car finance

ElvisPresleysCat
ElvisPresleysCat Posts: 114
Part of the Furniture 10 Posts Photogenic Combo Breaker
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in Reclaim car finance

Hi,


I'm unsure if I've been missold car finance but I'm receiving text messages from one company anyway.


Are they simply fishing for business or did they legitimately get my name from some financial records somewhere?

fwiw the company is "Panda PCP"

Thanks!

Comments

  • Emmia
    Emmia Posts: 7,545
    Sixth Anniversary 1,000 Posts Photogenic Name Dropper
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    Probably fishing for business... I've had a couple of texts and I've never had car finance.

  • CliveOfIndia
    CliveOfIndia Posts: 2,948
    1,000 Posts Third Anniversary Name Dropper
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    I agree with the above - just speculative fishing. I routinely receive letters (yes, real old-fashioned letters) telling me I can claim, but like the above poster, I've never had car finance in my life.

  • Nasqueron
    Nasqueron Posts: 11,794
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
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    Pure spam, I have only had 1 car on finance, it was 0% so cannot be covered by the DCA claims

    I just block and report spam

    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.

  • ballroomqueen
    ballroomqueen Posts: 1
    First Post Photogenic
    Newbie

    Even if you pay cash for a car would high commission included in the cost be classed as mis-selling?

  • dunstonh
    dunstonh Posts: 121,891
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
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    https://forums.moneysavingexpert.com/discussion/comment/82052870#Comment_82052870

    That is not possible.

    The whole issue is due to section 140A of the Consumer Credit Act. If there's no credits, then there cannot be a failing.

    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.
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