Advantage Finance - HP Car failed after 1yrs - still paying - HELP

[dx100uk]

firstly

you need to urgently get reclaiming.

 

file in the spreadsheet attached

put t heir int rate in cell D15

 

as for the garbage hes telling you on the phone-

your financial dealing are NOTHING to do with him

 

you REALLY need to STOP talking on the phone

everything in WRITING ONLY from now - put the phone down

 

as for the I&E sheet

they have NO LEGAL RIGHT

to see any of your pers financial details.

 

how much have you paid back so far?

more then half

 

if so, you dont owe them a penny!

 

dx

[ads_uk]

unfortuanatly its nowhere near half..The original agreement was for about £7,500 and I've probably paid back £2,000 of that at present.Out at the moment but will upload statement when I find it..

[ads_uk]

Here's the letter I recieved on the 15th December. Inc statement of account:

[dadofholly]

Are you claiming back the insurance and the charges?

 

Have you sent a CCA request to this lot?

[ads_uk]

Wouldn't know where to start as never dealt with HP before..

Would I be able to claim back mechanical warrenty and the gap ins? As for charges since the account started til 15dec there's about 250 that they ain't paid back.

Now that I ain't got the car I Jus want these off my back for good but I guess I will have to pay them half of the value of the agreement?

[dadofholly]

Half? Where did you get that figure from? Have you an agreement with them to only pay half? They could make you liable fir all the oustanding amount.

 

Claiming back insurances etc. reduces the balance you owe - so you pay less.

[ads_uk]

Dx comment said if I paid them more than half I owe them nothing.

[dadofholly]

Thats new one on me.

 

Is that correct dx? I've not come accross that before - is this the case with HP agreements?

[dx100uk]

sri if your HAD paid them half .

 

i'm not exactly sure where you stand with this actually

 

it was a hire car

if failed

THEY should be paying for it to be repaired NOT you. [£300 my foot for diags]

they should have replaced it

they gave perm to scrapped it

 

you should of returned it as crap!

and paid no more

 

its was still theirs!!

 

i'll have to get someone else onboard not my game

 

but i cant see why you are paying anything more!

 

as advised before in several places

you can reclaim ALL the charges

and the gap

 

dx

[dx100uk]

i've moved the thread to the motoring forum to see if we can attract help

 

dx

[Bazooka Boo]

This is a very very quick google search on this company, so decipher what you can,

 

http://www.advantage-finance.co.uk/home/

And an old 2008 post on CAG http://www.consumeractiongroup.co.uk/forum/showthread.php?159639-Returning-car-to-advantage-finance-HELP

[dadofholly]

did you arrange the finance yourself with advantage - or did someone do it for you - like a broker

[ads_uk]

The place I brought the car from arranged it all.

The garage went bump about 12mths ago.

[ads_uk]

Is there a sample letter on available to send so I can try and claim back the charges and also the GAP / Mech Warranty which was sold?

[dx100uk]

no not as such

 

have you all the statements showing the charges

 

for the gap etc threat them as i single premium ppi claim

see below in my sig

 

dx

[ads_uk]

A couple of posts up its what they sent me detailing all charges and receipts to the account.

[dx100uk]

as you dont know WHAT they have refunded

 

i'd claim all these

 

unpaid dd/chq

collection tele call

text msg

arrears man fee

issue of default

collection charge

 

fill in the attached spready

 

 

 

dx

[ads_uk]

hi ya - sorry you've stated two separate spread sheets...

CISheet v101 & StatIntSheet1.

 

Which one do I fill out for the charges incurred and which for the combined GAP & Mechanical Breakdown Warranty?

[dx100uk]

front loaded stuff like ins - the stat one

penalty charges - where they are adding them to the running bal and then charging int every month on them - the CI one

 

dx

[ads_uk]

[ATTACH]33174[/ATTACH]

Okies - Here's the CI one that's ALL charges noted upto the 15/12/2011 (Last Statement Received).

 

As for the Gap & Mech Break part there have been 14 full payments of the £48.57 which was part of the monthly payments, would it be just the interest on these to be claimed as, the GAP & Mech was useless and without the car is also pointless (I do remember originally telling them when they called I didnt require the Mech Cover as brother was a Mechanic).

 

I've made the following payments on the account: (Upto and inc 30/01/2012)

1 @ £309.22; 11 @ £159.22; 1 @ £160.72; 1 @ £200.00; 1 @ £50.00; 10 @ £20.00; 1 @ £15.00; 1 @ £5.00.

Total Payments Made: £2741.36

 

Thanks

[dx100uk]

nice little earner there!

 

as for the ins

 

you need to work out what % the ins's were of your PCM

 

to do this:

 

total cash price of insurance / total cash price of loan X 100 = XXX%

 

then workout what was XX% of your PCM

 

thats the figure you use.

 

dx

[ads_uk]

ah right think I might of said wrong thing somewhere in post - its not PPI that I'm refering to.

 

Car on HP amount of credit £2825.00 + Charge for credit £2751.20 = £5646.20 (APR 47.35%)

- Thats 260.65 x 1mth, £110.65 x 46mths, & last payment of 225.65

 

Mechanical Breakdown Cover & GAP Finance Protection £1240.00 + Charge for credit £1091.36 = £2331.36 (APR 41.65%)

- Thats £48.57 x 48mths

Interest charged at a rate of 22% pa (no idea what that means).

 

I dont know if i worked it out right but if I can get the charges refunded & also the Mech & GAP refunded/canceled then technically I would have paid more than half of the car price.. if that will mean anything with terminationg the agreement as they said to scrap the car...

[dx100uk]

you treat all front loaded things as ppi

 

however if you paid £48.57PCM thats what you use in the SI spready

just list EVERY payment you have made to date

and inc you want it cancelled

 

dx

[ads_uk]

Thanks will work on something over the weekend

 

once again thank you

[Notary Aching]

Do you still have the vehicle in your possession?