Tricked by Credit Hire firm 2 months hire @ £30K!
Comments
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No, I never knew until i was told 2 years later what the daily hire costs were so that's wrong. Neither have I stated that anywhere above. Who are you really?
In your OP you stated:Unfortunately I didn't get a copy of the paperwork or a chance to read it but noticed a price of hire which seemed a little high.Also don't care for your sympathy. What is the meaning of insurance if its not even there to pay for alternative arrangements to get you back on the road after a car accident? Are you so naive to even think that they would suddenly drop all their extortionate premiums if no one claimed?
Yes insurance do pay for car hire but not at any cost especially when it's a ridiculous price like your hire was.
If you look at the accounts of car insurance companies they have very low profit margins of only a few percent and some don't even make any profit.
Comparison sites make insurance very competitive and they are offering the lowest prices they possibly can. If the costs of claims reduce then so would insurance prices. Just like other insurance like travel insurance is a lot cheaper because their are less claims and the amounts of each claim are a lot smaller.Finally this is the kind of situation where someone is asking for your open cheque book. No body actually knows how long the hire will be for, so the fees are practically unlimited ...or to the 2 months limit anyway which is where this firm prolonged the simple repairs to. They give you a car, trick you into a contract you're not sure you are paying into, then raise the costs completely in their control for hire and storage fees. This is basically a fraud in itself.
Don't forget you are the one who approached this company and you are the one who signed the paperwork without even reading it.
Don't get me wrong i'm not rooting for this company in any way and i don't want them to get their £30k hire costs. This company tries to make massive profits by unnecessarily inflating costs and providing no useful service.
But the problem i have is that you didn't care about the cost because you thought that then insurance company would pay for it. Obviously that is unreasonable and if you were that desperate for a car you could have hired one yourself and even paid by credit card if you didn't have the cash available.0 -
Really can't deal with the "doom and gloomers", just want some positive advice. tough
So how enforceable is this contract? what? The one you willingly signed and reaped the benefit of?
What will happen if I don't pay and take it to court? id proffer that you’d lose
I'm stunned and angry at myself as nowhere in my right mind would I have taken such an illogical extortionate car hire if I had known that potentially I could be facing such a huge bill. yet when the insurance company is picking up the tab it’s all good right?
Please help
Sorry I can’t help. Just wanted to say stuff.
Edit; just saw takmon kinda stole my thunder. Was too keen to respond to the thread before reading replies.0 -
Oh seriously... again that high price was not a daily hire charge it was another price I noticed possibly a storage or collection fee. I had no idea of the daily hire charge that day.
No, anyone will do the same. When you think you don't have to pay and have no idea of the inner workings of insurance companies. When someone giving you a 'free' car and you're desperate to be on the road. When you don't realize actually how long they have masterfully intended to lend you a car and hijack yours at a repair center for the maximum 2 months, where I was thinking it would be 3-4 days...then what do i have to feel guilt for?
We pay huge sums to the insurance extortion racket who operate like a mafiosa in this country. Lloyds bank and the other two big underwriters making huge profits and you think I should feel guilt? You people are just defending the real criminals making excuses for them. I bet you don't buy that expensive coffee with the fair trade labels or purposely shop at the most expensive stores for same quaility shirts that are half the price at others even though you know that poor farmer or sweat shop worker in third world is getting ripped off.
Point is everyone looks after their own needs first especially when pitted against a faceless organisation. Like I said I don't care for your sympathy but don't push guilt on me if the system itself is such a failure that it allows unscrupulous car hire loan sharks to operate this way. I was involved in a accident not my fault... I shouldn't have to go through these guilt tests.1 -
Dean,
Hope I come out positive from this mess and its a big slap on your face among others having fun from this situation as you try to rub more salt with these cynical posts. My post here is a favour to those possibly caught halfway in this credit hire mess, which I really don't need to post about.
Everyone thinks they're smart when its not their problem but someones else's to laugh at.0 -
Meh. I don’t like your post....
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Sorry Eddy but your reasoning just doesn't wash. Who did you think the company worked for that meant you could trust them saying it was basically free? Did the paperwork really not include the hire costs on it?
I do support that £30k is clearly rediculous but if they can wave a piece of paper with this daily rate and your sig on it...not much you can do!Thinking critically since 1996....0 -
Not a lot of sympathy here as you agreed to hire a car at over £340 a day you could have had from one of the main highstreet hire companies for around £40 to £60 a day. To put that in perspective see the link below. Your daily rate would cover a range rover sport or posche 4x4.
http://www.gtacredithire.com/wp-content/uploads/2019/01/GTA-Grouping-Car-Rates-wef-1st-July-2014-v-23_7_18.xlsx
What I will suggest is that this will come down to the detail in the contract you signed. Credit hire agreements have to include certain terms to be enforceable. If you post up copies of the paper work you signed with personal details redacted one of the members in the known will be able to see if there are any loop holes you can use. One of the things the agreement must state is the daily rate so you must have been aware when you signed the agreement.0 -
Oh seriously... again that high price was not a daily hire charge it was another price I noticed possibly a storage or collection fee. I had no idea of the daily hire charge that day.
As i quoted you clearly stated you noticed a "noticed a price of hire which seemed a little high". There is no point in trying to backtrack when it's there for everyone to see.No, anyone will do the same. When you think you don't have to pay and have no idea of the inner workings of insurance companies. When someone giving you a 'free' car and you're desperate to be on the road. When you don't realize actually how long they have masterfully intended to lend you a car and hijack yours at a repair center for the maximum 2 months, where I was thinking it would be 3-4 days...then what do i have to feel guilt for?
I certainly wouldn't sign an agreement without even having a basic understanding of what it is to get a "free" car. You can't of even done any basic research online before you took this action.
If you still think this was a good decision at the time you will likely end up in serious financial trouble one day by signing up to something you don't understand.We pay huge sums to the insurance extortion racket who operate like a mafiosa in this country. Lloyds bank and the other two big underwriters making huge profits and you think I should feel guilt? You people are just defending the real criminals making excuses for them. I bet you don't buy that expensive coffee with the fair trade labels or purposely shop at the most expensive stores for same quaility shirts that are half the price at others even though you know that poor farmer or sweat shop worker in third world is getting ripped off.
Point is everyone looks after their own needs first especially when pitted against a faceless organisation. Like I said I don't care for your sympathy but don't push guilt on me if the system itself is such a failure that it allows unscrupulous car hire loan sharks to operate this way. I was involved in a accident not my fault... I shouldn't have to go through these guilt tests.
Lloyds bank isn't even an insurance underwriter. You have very little understanding of the insurance industry and yet seem to think they make huge profits. Do some basic research and you will see how wrong you are.
Every high value claim pushes up the insurance prices for everyone else, that's how insurance works.
The fact is that you signed up with this dodgy company and then expected the insurance companies to pay for it. You actively seeked them out yourself without looking at any reviews and chose to use them. Yet somehow that is a failure of the insurance industry :rotfl:0 -
Ignore the trollsChanging the world, one sarcastic comment at a time.0
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Takmon!
You think "Lloyds of London" isn't even an underwriter????!:rotfl:0
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