Car finance mis-selling compensation?

[ebikeerwidnes]

No, the ambulance chasers will take 30% or more of your payout.
You really are a mug to let them scam that my commission from you givden how easy it is to claim yourself.
It's also incredibly ironic how they fleece you when you are claiming compensation for mis-selling.....

Yes - their advert was trying to say that if you go with them then they will find ALL your mis-sol policies

but as said before - you can do that yourself

so it is a con

 

[gbb]

Yes - their advert was trying to say that if you go with them then they will find ALL your mis-sol policies

but as said before - you can do that yourself

so it is a con

I see adverts now for companies who can help you reclaim overpayment of tax on cashed in pensions pots.
You dont even (well I didn't) have to claim, HMRC told ME I was overpaid and gave it me back, you just have to be patient.

A con ?...let's give it a slightly better name, a scheme for those that can't be bothered to do the homework ?

I take great delight in telling people this on the advertisers comments section.

 

[gbb]

Not being funny, but this is how car finance has worked - you knew the "agent/car sales person" would get commission on selling you a 'policy' - I've always known this. It's not rocket science.

Being pedantic, I think the reason for the ability to claim is...they didnt offer you the right interest rate and therefore falsly inflated their commission..not that they (quite rightly) took a commission per se.

That brings forward the idea that you should know or compare what interest rate you should be getting....well yes, but personally (and i dont suppose im much different than many people)...i find the car i really want before going into the finacials. I certainly dont get multiple quotes from different outlets or lenders for different cars...so the rate offered by the company selling the car i REALLY want is meaningless in itself, I've got nothing to compare it to.

Strangely, I used to get a bank loan to buy a car years ago, they USED to offer very attractive rates...but for whatever reason, that seemed to stop many years ago.

 

[ebikeerwidnes]

I used to find that they would offer a "loan" and say it was just to make it easier for me to buy the car

sort of implying that they were just there to help me and selling the car was their job
and missing out the concept of them getting paid fro arranging the loan

Which all fell apart when I said I would just pay for it and suddenly the price went up
I actually had one place refuse to sell me the car based on a previous offer because I refused the load agreement

he insisted that I either took out the loan at the stated price
or bought it directly at a significantly higher price

so I walked out

 

[gbb]

Oh yes, theres precious little in it for the sales guy if you pay cash...

 

[Aescott]

Avoid the claims companies. You can do it all yourself. They might offer the service and charge 35% of any recovery - but it's 35% plus VAT, meaning that they'll take 42% of any settelement. Granted, they only keep 35% and pay the rest to HMRC, but you pay the 42%, with no way of recovering the VAT

 

[Dorset Boy]

Avoid the claims companies. You can do it all yourself. They might offer the service and charge 35% of any recovery - but it's 35% plus VAT, meaning that they'll take 42% of any settelement. Granted, they only keep 35% and pay the rest to HMRC, but you pay the 42%, with no way of recovering the VAT

The next great mis-selling scandal should be against the scumbag ambulance chasers for their extortionate commission