Claim Back PPI on Car Loan’s
Car dealers have been heavily censured by the FSA for their selling practices of PPI policies.
If you have had a car loan in the past 6 years we will be happy to audit your file to see if you have been missold PPI on a “No Win, No Fee”
basis. Many car salesman used the same tactic as other financial institutions and either told you it was compulsory or you had a better chance
of getting the car finance if you added the PPI policy to the loan.
We will audit your file and identify any areas of Mis selling practices of the PPI policy.
When you decide to make a claim on PPI on car finance, be extra cautious. By saying be cautious, consumer groups are warning consumers who claim, to be vigilant about methods being employed by banks and lender to reject and deny claims. Even though banks have agreed to make claims easier and faster due to order by the courts, the incidence of rejected claims is still high in comparison to paid claims. The reason is that as a business, it will be advantageous to delay claims or reject claims than paying claims outright.
When making a claim, there are some things that you must be absolutely sure about. Otherwise, you might find yourself in a compromising situation. You must be absolutely sure that you have been mis sold. The PPI transaction that was sold to you must qualify as genuine mis selling. If you establish this, then you are on your way to make a promising claim. Even if the banks use delaying tactics or reject your claim for whatever reason, you still have a strong case for mis selling and you can eventually get a refund in the future. If you do not have a strong case, then banks can easily get rid of your claim.
In order to have a strong case for mis sold PPI, you must review the original documents that are in your possession. In case you lose your copy for whatever reason, be sure to get a certified copy from the insurance provider. They can provide it to you at your request. As soon as you have the original documents, review the inclusion and the exclusion. Then try to recall, as accurate as possible, how the broker presented to you the product. This carries much weight in your assessment for a strong case.
Probably the most important are in PPI on car finance, is recalling the whole sales process. This is the most important and probably the most difficult for you to establish. It is good if the sale happens just a few weeks or days ago. But if the sale happened a year or more ago, there may be difficulties that you will encounter. Try to establish exactly how the product was presented to you. If you can do this with accuracy, then you have strong evidence of mis sold PPI. The sales process as how the broker did it, it very crucial.
Try to answer these questions. Did the sales person tell you that PPI was required for the approval of car finance? If so, how did he say it to you? PPI is not required, so if the sales person said it was required, it constitutes mis selling. Did the sales person make it appear that if you got PPI, your chance of approval will be higher? This is another thing that constitute, mis selling. The worst thing is: Did the seller, front load your PPI? It means that did he include PPI without your express approval? If he did so, on PPI on car finance, it is certainly mis selling.