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AlbertH

Cancelling Carcraft extended guarantee

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Hi everyone,

 

I recently bought a car from carcraft on finance, and I was mis-sold the extended guarantee ( I was told it was free, but on looking closely at the paperwork I've been charged). I want to cancel the guarantee, Im still in the time limit to do so, but to cancel it I have been told I need to go in and re-sign the finance documents. I really dont want to do this because I have really bad credit, and I'm afraid if I cancel my current agreement I might not be able to get finance again for the new agreement. Is it possible to be refunded a diffrent way, i.e. cash, cheque?

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Hi everyone,

 

I recently bought a car from carcraft on finance, and I was miss-sold the 5 year extended guarantee. I want to cancel this guarantee, Im still in the 30 day time limit to do so, but to cancel it I have been told I need to go in and re-sign the finance documents.

 

I have a very bad credit score, and I'm afraid if I cancel my current agreement I might not be able to get finance again for the new agreement, or they will greatly increase the APR so I'm no better off. I've read about them doing this in other threads. Is there any other refund options, i.e. could they give me a cash refund or a cheque, or can they just knock the refunded amount off the current agreement?

 

Any help appreciated.

Al

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Guest Carcraft Customer Service Manager

Hi AlPlease can you supply me with your vehicle registration number and i can look into this further for you?Many thanksLinzi

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Hello Linzi, I tried to PM you my reg. number but I haven't reached the required amount of posts to send pm's, and I dont want to post it on a public forum.

Edited by AlbertH

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Guest Carcraft Customer Service Manager

Hi AlThats not a problem, my direct line is 01706 753569, if you give me a call you can give me your details over the phone and i can look into this further for you.I am here until 6pm, but i also have a VM facility you can leave me your number on if i am not here and i will call you back as soon as possible.ThanksLinzi

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Linzi, thanks for your help but I think this is sorted now, unless there's any probs when I go to sign the documents.

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Guest Carcraft Customer Service Manager

Thats great, there shouldn't be any problems, but if there is let me know. Its very rare that there is any issues at this stage as you are cancelling within the timescale.

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The only possible problem I see is if the APR on the remaining finance increases, can you confirm that this wont happen?

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Guest Carcraft Customer Service Manager

Hi Al, I cannot confirm anything i am sorry, i would need to see your account and without you calling me to give me your details i will struggle to give you any specific information.When you come to re-sign the documents the Finance Rep will be able to answer any queries you may have.ThanksLinzi

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Linzi, I dont trust anything the finance rep says, like I said in my first post I was miss-sold this product (by the finance rep) in the first place. I have asked for this question to be answered in writing a few times but its been unanswered. I thought what I was asking you was a general procedural point, not something specific to my account. I think if you try to take advantage of my need to sign a new contract in order to cancel this guarantee, by unfairly increasing the APR in respect of the current agreement, I will just go to the ombudsman.

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Guest Carcraft Customer Service Manager

Hi AlIt is difficult for me to answer any of your questions, when i don't know any details of your account. Things can be different per customer, such as what finance company you are with etc. If you can call me on 01706 753569 and give me your details, i can look into this further for you. I would hate to give you the wrong information without being able to look into it further for you.Many thanksLinzi

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