Passing the buck on PPI

sasp

I have decided to voluntary terminate my car agreement with Welcome Finance. I owe £1606 on the actual car, this will bring me up to the half way required payment but the woman I spoke to says that there is still £744.15 insurance to pay. I said that when I took the car out they said that as long as I paid the car for 2 years or £5160 I could hand it back. The welcome woman said that as the car was bought from The Car People, they were at fault for mis-selling the insurance but they say the agreement is with welcome, please help, who is at fault, and do I have to pay?:mad:

jonesMUFCforever

What does your credit agreement say and was the insurance and loan bundled together?
Might it not be cheaper to sell the car yourself?

petermb_2

Welcome will always blame the dealer if they can.
This is a standard get out for many lenders. Have none of it.
Your agreement is with Welcome and they should sort your situation out for you. The agreement should state exactly how much you need to pay before you can terminate.

petermb_2

sorry I did not answer your question.
the mis-selling and other issues surrounding ppi in the vast majority of loans rests with the lender. Any claim should be directed at them.
I personally dont think you will have to pay, on the other hand I dont think you need to hand the car back either. The loan itself can be challenged by what you have said so far