cca conditional sale agreement "no date "

[jezzyjet]

hi all


a friend of mine bought a car with online finance and on the conditional sale agreement there is no date of the agreement,is this contract enforcable? all advise appreciated jezzy

[calvi36]

It all depends I think on what else was signed at the time. A lot of people try to get out of agreements on minor technicalities however think of this before you do anything. Where was the car sourced, ie what dealer? They would have proposed your friend for finance on the vehicle, date of acceptance to finance would be there. Signed order would also have to be there before prop to finance had been done. It's not as simple as a missing date, I bet your pals signature is on the finance docs. If it was not then the car would not have been released by the dealer. reason for this is that an OK to pay by the finance house must be received by the dealer before the dealer will release the vehicle.

[jezzyjet]

many thanks for that, mabey you could help me on this one, ANOTHER friend of mine took out a loan,was mis-sold a ppi and on the loan there was no grand payback total, ie ,amount to be paid by you, he also didnt know that there was interest on the ppi @29.5% his copy of the cca isnt even dated,when questioned the lender said reguarding the ppi "well its your word against ours" and after my friend requested a copy of the original cca he was told to come back in 4 days, i suspect that when the cca comes back it will be dated ,not like the copy my friend recieved when he took out the loan,would this be commiting an offence on the part of the lender? when my friend questioned him on the absence of a total repayment figure he lender said something like "well that was for you to work out" any advise greatly accepted,i didnt like the sound of this lenders attitude ,trying to sort things before friday,i have a feeling that my mate might get messed around re, the original cca, so im going to type up a s78 request so my mate can slap it in his hand and make it official,id like to see his face then! many thanks jezzy

[calvi36]

Mis-selling of GAP and PPI have been very much in the news lately and I dealt with a similar thing for my mother. She was sold cred protection for two leather sofas, she would never have been able to claim as she is retired.

First step is to call the finance house and get hold of their compliance officer.
Then confirm it all in writing to them, nature of complaint etc.
Keep copies of everything.
As to the finance docs, they must clearly show the total amount payable and the apr if it's a hp agreement, if it's a lease agreement then no apr or flat rates have to be shown nor any total payment.
By giving the finance house the opportunity to resolve the matter you are infact building a case for when it goes to court as you will be able to show that you have acted fairly and tried to resolve the issues.

[jezzyjet]

many thanks for the advise ,my second mate "as above" took out a loan to pay other debts,not for a hp or lease would that need a total balance to be enforcable? as it had neither a total repayable and he didnt even know that he was paying interest on the ppi ,many thanks again , jezzy

[calvi36]

Consumers are being tricked into buying expensive Payment Protection Insurance (PPI) when taking out a personal loan over the phone or internet, it has been claimed.

Which? said people are at risk of unknowingly purchasing unnecessary or unsuitable insurance as a result of some provider adding PPI as a matter of course during the sales process.
Researchers applying for a loan with a number of firms found that more than half the quotes received by telephone automatically included PPI, while online sales revealed similar outcomes.
Only one provider did not include PPI on their telephone quote, with a handful of others quoting both.


The product - which provides financial cover for people who find themselves unable to work through injury or ill health - is often sold on the back of loans, credit cards and mortgages.
There are an estimated 20 million policies active in the UK. But critics claim PPI is vastly overpriced, often sold to people who do not need it, and difficult to claim on.
A report by Which? Money points out that the product is not compulsory and that for most people income protection insurance is a better option.
Martyn Hocking, editor of Which? Money, said: "PPI is not always suitable, yet our research shows that lenders are still extremely keen to sell it to us.
"By adding PPI to loan quotes automatically, people could be tricked into buying it regardless of whether they need it or not."
He added: "If you are taking out a loan, make sure you know if the quotes you get include PPI - it is not compulsory, so if you don't want it, ask the lender to remove it."

[calvi36]

Jezzy, there should have been a complete breakdown of all charges on the agreement. This includes the PPI and the interest charged. End figure would be the total amount payable including everything. If he was not advised he was taking PPI then this is mis-selling or mis-representation (thx Rosiecotton for the legal term). If there is no interest showing on the finance docs regarding the PPI then I would challenge the validity of the agreement.