Thread: Optional Insurances **WON**

I bought a car 10 days ago and was foolish enough to agree to a load of optional insurance (GAP, Mechanical break down and theft protection) which will cost me £55 per month for 36 months. I have emailed the company, Advantage Finance to cancel these extras, but so far no response. I was told on the phone that the extra cost of these would be of set by the reduction in the intrest rate. That was a lie as the combined intrest rate would have been 88.96% and i am not that desperate that i couldnt have borrowed cheaper else where.
Can somebody explain my rights to cancel these extras, but not the car loan. Does anybody else have experience with this company.

Thank you in advance.

Gazzer

You Can Cancel Normally With In 30 Days

Some Are Getting Sneeky Saying 14 Days

Important

It Was Not A Micky Mouse Finance Co Like
Acf
Ucan
Cygnet Finance

Well The List Could Go On And On

You Get The Idea

Who Was The Finance Co

Important

SORRY ADVANTAGE FINANCE

GIVE ME 5 AND ILL BE BACK

I Am Going To Be Brutal With This
Its From Personel Experience And Dealing With Meny People On The Forum

Please Consider To Cancel The Agreement
You Prob Only Have A Few Days Left
Post Your Agreement Onto Your Thread Minus Personel Details
Google Photo Bucket

I Will Tell You Exactly What You Have Let Your Self In For

Advantage Finance Ltd, Unit 7, Acorn Business Park, Moss Road, Grimsby. DN32 0LW
Optionals are from the AA but through this company

I agree

You Will Never Pay Off This Loan Unles You Win The Lottery
All Those Insurance Products Have Been Front Loaded,
That Is A Single Payment,
You Are Paying It Back At There Sky High Apr

The Insurance Products Are Not Worth The Paper Written On


Hold The Press

Dont Companies Have To Wait Two Weeks Now Before Flogging Insurance

They No Longer Can Sell Front Loaded Insurance At Point Of Sale

Confirmation When This Became Law Please Peeps

Can i cancel the insurances or am i stuck paying them a fortune for something that is not worth the paper it is written on.

If Its Only 10 Days Then Yes

On This One Do The Following

Send A Letter To Advantage Finance
Tell Them As They Sold The Policy They Have To Action Your Request

List All The Mick Mouse Insurance And Tell Them You Want Them Cancelled

Get Them To Send You A Modified Agreement Minus The PPI To Sign

dont sign Until You Have Spoken To Me First Though As It Will Cancel Out The Previouse Agreement And Its Protection

Most Important
Keep A Copy And Send
Special Delievery Not Recorded

Letters Have A Habit Of Getting Lost With This Lot

Do It Tomorrow
Time Is Short

Thank you, will do the letter now and post in morning by special delivery. (what is special delivery or will post office know.

Special Delievery Is Guarantead By 230 Next Day
Its Kept Secure And Tracked All The Way

Cost Ime Afraid About 4.50

Better That Than Them Saying Never Received Your Request And Stuck With The PPI

You Get A Tracking Number And Can Check When Delievered ON LINE

Never Lose That Number
Scan It Into Your Pc

Thank you.
Envelope already done. Will post when i receive a reply.

They received my letter sent by special delivery and tried to phone me, but i cant carry my personal phone at work. I did give them a number to call me on 24/7. I rang them back but the person dealing with my account was out to lunch and will phone me back. No phone call. How long do i wait for them to phone me or do i phone them.

Hi Gazzer

No Matter What Happens Now, You Can Prove You Requested The Cancelation With In The Time Frame

You Have A Tracking Number To Confirm Receipt

Give Them A Call Again And Dont Let Them Try And Con You

Its About Over But We Need Confirmation In Writing

Thank you Postggj. I have received a phone call stating that optional insurances have been cancelled and i am now waiting for the new agreement. Will post again when i receive it. They said that they received my letter. Excellent idea from you re the letter, as i would have been stuck with paying for the extras and has saved me over £2k for something that wasnt worth the paper it was written on. Once again many thanks

Hi Gazzer83

That Last Statement Sound Great But You Dont Know Welcome Like I Do.

To Begin With, When You Get The New Agreement Let Me Know,
Sign Nothing Until Then As Its Most Important,

Then Saying On The Phone About Taking Off The Insurance And Sending You An Agreement Is One Thing , And Doing It Another.
Seen It To Meny Times.

The Beauty Is That They Can Now Do Sfa
You Sent In A Request With In The Time Frame And Have A Sig To Back Up Receipt

I have now received a letter from Advantage, stating that the additionals have been removed and reducing my payments to just the car loan at a rate i am happy with. So much for the claim that the cost of the optionals would off be off set by a reduction in the Apr. And all this before i have made my first payment. Thank you once again for your help. Chalk up a saving of £2k to your list and a bigger than i can express THANK YOU.

Yes please aa