early settlement: what happens to insurances

[essexboy]

Hi

 

I have been having terrible trouble with this company and have started the fight back with the help of all you cagers

 

My question is i had a car loan with welcome lasting for four years and included several insurances, ppi, shortfall extra, and mechanical breakdown.

 

I traded it back to welcome after paying nearly a grand for a new exhaust after two years deciding the car was too expensive to run and as the children was getting older requiring a smaller car.

 

Having purchased another car from welcome eighteen months ago i now feel the previous car agreement was settled without taking into account any early settlement for both the purchase and insurances

 

does anybody Know or tell me what is expected for sttling half way through an agreement and is a refund of insurances a reasonable expectation

 

essexboy

[postggj]

i feel you know the answer to that question essexboy

 

the premium for these and i call very suspect insurance product, are paid up front in a front loaded payment

 

beeing you have paid for it

 

so say the agreement only runs through to 50% of the term, a refund or rebate on another agreement should be given to you

 

but welcome allways forget this

 

 

as these policies are allways missold, the fos will get your money back, they have upheld every complaint ive seen ref misselling

 

but still use the direct route with welcome while the fos find time to deal with your complaint

[essexboy]

hi postggi

 

so am i correct in my understanding that i should have received a discount not only for interest charged but a rebate for the ppi and shortfall extra and mechanical breakdown insurances

 

do you know how i would calculate this figure as i did a calculation at the time of purchase of the newer car and this was somewhat lower to welcome evaluation

 

their evaluation was added to the new agreement so do i still have a right to pursue this claim

 

have requested all information regarding all accounts ever held with welcome and this was in january and still waiting

 

essexboy

[postggj]

you will need the closing statement ref the previouse loan and an up to date on the new loan