Approved Car Finance (ACF) reclaiming Motor Warranty ??

[Blakey1971]

Hi, I am looking for some advice and help.

In 2007 I purchased a Car from Approved Car Finance in Maidstone.

I brought a Ford Focus, which was supposed to be about £6,900 but with interest and finance etc, worked out to £301 a month over 62 months! I know I was silly to go to 1 of these places, but with a bad credit history and a young child, wanted a safe, modern, reliable car, so never really had much of a choice.

The total amout to pay back is well over £18,000 for a car that was worth £6,900.

I split with my partner early last year and have found the payments hard to make, obviously there were 2 incomes, Tax credits ect when I took out the finance for this, and since then I now just have my income, and increased outgoings as I now pay for my daughter + other expenses.

I have phoned Approved (The Funding Corp.) which supplied the finance to ask about reduced payments, but am told that the payments are set and they don't allow reduced payments, if i am late with a payment etc, i get phone calls etc, threating to reposses the car, within 14 -17 days, as the loan was secured on the car.

Basically I have paid off over £14,000 on this car and have on the last statement £4,700 to pay off. I don't want to loose the car as i might as well of chucked this money down the drain and need the car to get to see my daughter and for work etc.

What i would like to know is would they have to go to court to get a repossesion order and would a judge grant it, bearing in mind the amount paid off and owed? I have told them on many occasions, that it's not that i don't want to pay, it's a case of needing more time.

Also when i took out the car, I was lied to by the salesman and this has been proved in a compliant i made to The Funding Corp that they upheld, I was also sold an insurance for the car against M.O.T failure, Tyres etc, and was told it was for all the time i was paying for the car. When i came to use it because of a puncture in the side wall of a tyre, I found it only lasted for 3yrs and expired last year and that to qualify the car had to be serviced every 6000 miles at a main dealer, to have the service book stamped.

Had this been explained at the time, i would never of took this policy as I have a couple of friends that were mechanics that take care of my servicing etc, but don't actaully work in a garage so i never would of got the book stamped which would of made the policy worthless! Is there any company that would fight to get my money back on this policy? The insurances which i was told was mot and gaps, although on contract it doesn't state them seperate, just states insurance is £3,309. Also the contract doesn't show that i paid £20 deposit although i have paperwork from the actual branch at Maidstone showing i did. Also my contract was not signed on behalf of T.F.C until 23/5/07 when i actually signed and brought it on the 17/5/07

 

if anyone could help and point me in the right direction i would be grateful.

 

Sorry for the long questions!

[Ell-enn]

Hi there, is it a Hire Purchase Agreement you have ?

[Blakey1971]

Looking at the contract it is a bill of sale, secured against the car

[Blakey1971]

Hi there,

 

Can anyone help me with regards to a Bill of Sale and problems with The Funding Corperation.

 

Please find attached what they have sent me when I requested a copy of the Bill of sale, It has no court stamp, not my full details as of name and address at the time etc of taking out the Car. I have tried to talk to them about reducing the payments but have got no joy and am told that if I don't pay the Full Amount each month they will Sieze the car, Despite paying £14,000 back of the £18,000.

 

 

Any help would be really gratefully recieved

scan0012.pdf

[caro]

Hi Blakey.

 

The first attachment was too small to read and the other one has your name and address on so I've unapproved them. Can you post them again without the personal info please.

[Blakey1971]

Hi Blakey.

 

The first attachment was too small to read and the other one has your name and address on so I've unapproved them. Can you post them again without the personal info please.

 

 

 

sorry, not done this before so didn't realise, all sorted now and re-attached. would be grateful with some help on this as it is starting to stress me out. Despite explaining to them i had split with my partner, and that i now pay my ex £200+ child mantinence a month, they insist i have to pay the full £301 a month or they will take the car.

scan0012.pdf

[caro]

£301 is more than the amount on the BOS. Is that to cover some arrears?

 

The BOS doesn't mention £18,000 either.

 

I've moved your posts to your own thread and asked the site team if anyone can help further.

[Hip_Hop]

Hi Blakey1971,

 

Although I am no expert I would suggest in the first instance you establish in which court your Bill of Sale was registered and obtain a certified copy to establish if it was registered in time?. If there is no Registered Bill of Sale then they would not have a legal instrument to seize the security if you have defaulted. Establish this first by going to court where your Bill of Sale was registered to get a true copy than post that on the forum with your personal details removed first. Is ,,,,, you at the bottom of the BOS you have already posted here you? If so, you may want to remove this info too.

 

sorry, not done this before so didn't realise, all sorted now and re-attached. would be grateful with some help on this as it is starting to stress me out. Despite explaining to them i had split with my partner, and that i now pay my ex £200+ child mantinence a month, they insist i have to pay the full £301 a month or they will take the car.

[Blakey1971]

Yeah forgot about name at bottom, I have sent them a letter asking for the registered copy of the bill of sale, no the £301 is my monthly payment, the contract has 2 or 3 different rates of interest, it says 21.98% or something on the actual loan for the car, 23.10% for the motor warrenty insurance i was mis-sold then mentions 39.9% a.p.r.

 

I have and am only £180 in arrears from last month and not gonna be able to make this months payment, yet they insist i pay them £100 a week until arrears are paid off, this is driving me to dispair as you can imagine, to loose something i have paid £14,000, i try to keep up with it, but would love to be in the position to say where to go if the BOS is not valid then i can say it is an unsecured loan as the Bos not worth paper it written on then say i will pay them half a month,. I have told them i know i took out the car and know it is my debt, and am willing to pay it off, just need more time, but they are totally unwilling to listen or help

Edited August 8, 2011 by Blakey1971
added info

[caro]

I can't help a lot with this, but is there somewhere that you can hide the car away from your home?

[Blakey1971]

Well today i recieved the default notice saying I have until the 25th to pay the arrears and also this months payment or I must hand over the car on the 25th. I have reported A.C.F and The Funding Corp. to Consumer Direct, which have passed the details onto Tranding Standards, who are going to contact me (Consumer Direct said that even with a bill of sale, they still have to obtain a court order to reposses the car as i have paid over 2/3rds).

Had interesting call with Someone at The Funding Corp, said they had made arrangements 18times with me and that i have failed 12 of them. Told them the 12 times were thier mistakes which is why they refunded me nearly £220 of charges, He denied speaking to me before, then said he spoke to me in July last yr.

When I stated that maybe i should take my £14,000 that i have paid, by taking wheels off car and stripping the interior before they take it was told that calls are recorded, I stated that i was recording the call as well as i have been lied to by so many people from that company, only for him to say i should of told him and then say no comment whenever i tried to discuss anything.

 

I now have the registered number (for B.O.S) not the actual copy, as he gave me number over phone, so will be sending that off tomorrow to check if it has been properly registered. I also asked for the Settlement figure, as per my contract it says if paying early, and sum was e.g £100 and was paying back 3/4 into term then the repayment would be £50.34. now with this rough figure, and me owing £4,211 and having just over a year to pay was thinking a settlement figure would be about £2,200, I had someone who would lend me this money to get these vultures off my back was told the settlement figure would be £3,600.

[Zeepler]

I suppose this is an almost hourly occurrence with this devious band of vile villains,but I will add to the growing list just the same.It started with my sister being conned into buying a 3 year old Fiat for the ridiculous sum of 15,500 pound,which was including 8,500 pound interest.It was purchased on one of their devious,archaic,BOS and for 2 years she paid the monthly payment of 250 pound without missing any,but this became a problem when her hours were cut.It was at this point where I looked at the "agreement" and discovered it was in fact a BOS.

 

After checking on various websites I soon realized that these BOS's were in fact a devious way for these loan sharks to snatch the car back without a court order,but also that they were usually full of mistakes which rendered then null and void.I checked with the High Court and they confirmed that the BOS was in fact registered,but not until 41 days after the car was purchased.I then checked the credit agreement against the BOS and found a few discrepancies with the date of signing.The strangest thing was that the car was registered by DVLA a full 4 days BEFORE she bought the car.

 

My question is;does there seem to be enough to instigate a case against these fraudsters,given the mistakes that were made.I nearly forgot but,they crept around to my sisters workplace and lifted the car at 5.am last week despite her being only 2 payments in arrears and sending a letter of dispute to these criminals in February 2012.She also asked for a court sealed copy of the BOS and other important papers,which they have totally ignored,instead bombarding her house and mobile phone with threatening calls and texts.In one day they called her mobile 76 times and invariably put the phone down when she answered.Any help really appreciated.:-x:-x

[caro]

You don't mention who the company is (probably as well as your post may well be considered libellous otherwise). Take a look at this thread which may help.

http://www.consumeractiongroup.co.uk/forum/showthread.php?188432-Ex-parte-injunction-against-log-book-loans-and-you-can-do-it-too&p=2028737&viewfull=1#post2028737

[Blakey1971]

Hi there,

 

i have complained to the F.O.S about the mis-selling of the Motor warranty Insurance I was sold when I brought a car from this company.

 

I was told at the time that the Insurance would cover all costs if my car failed an M.O.T or something major happened.

I was then told a story of how a couple had brought a car from them for the gearbox to blow up 6months later

and that because they had this insurance then they didn't have to pay a penny to get the gearbox replaced.

I also have a form which clearly states what i would like from the insurance and it is a printed ACF form that states In the event of M.O.T failure

or mechanical breakdown all repairs, labour and V.A.T to be paid.

 

The cost of this Insurance was over £1,400 with the interest on the £1,400 a whopping £1,800, in total over £3,200

 

When I came to use this warranty for a tyre (tyre insurance as well) last year I found the policy documents that

A) This cover only lasted for 3yrs (the term of the car finance was 5yrs and although on the contract it states 36months under the warranty part)

was assured by the salesman that it ran for the length of the finace and that the 36 months reffered to the interest which was at a different APR to the car finance.

 

B) That as i had no complied with changing the Timing belt immediately after I purchased the car, then the warranty would be void.

 

I complained to ACF who stated that the terms were all written out and given to me and i should of read them before signing a piece of paper to say I had recieved them,

and would of seen all the conditions of the warranty and the fact i could of cancelled it before 14days.

 

I complained to the F.O.S that surely this should of been a key element and conditon of the sale of this warranty and I should of been made aware of this before.

I was kept in The showroom from 8:50am until 1:45pm before I even got to see any paperwork, and only got it then because i was leaving at 1:50 with or without purchasing a car.

 

ACF have told the F.O.S that i would of been told at the time about the conditions

and they have dismissed my complaint despite them seeing the letter stating it was up to me to read the paperwork.

 

I am appealing against this and taking it to the top F.O.S and am looking for evidence of them using this story or similar ways of selling what is useless Insurance.

 

I have already found 1 such on here where someone was sold G.A.P.S and had an accident,

which didn't pay off all the loan as the car was over £2,000 above the glass guide price at the time of purchase,

where he was told it would cover the full amount.

 

 

Any help to get 1 back for the regular guy would be much appriciated.