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Peugeot Finance Charges


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Would I be able to claim back charges from Peugeot Finance? I was working when I took out a car finance contract with them in March 1994 but have subsequently had to give up work due to ill health. I explained this to them in writing at the end of 1995 and asked them if it was possible to reduce my monthly payments and extend the loan period but they refused.

 

I cancelled the direct debit because one month it bounced due to lack of funds in my bank account (I am now solely reliant on benefits), which resulted in a £38 charge from the bank as well as the £25 late payment fee from Peugeot. I have been struggling with the monthly payments ever since, hence the charges.

 

I am at the end of the three year contract and need to give them the 'balloon' payment by 7th April, so am in the process of seeking finance elsewhere or else I will have to give them back the car, which isn't an option with my medical condition. I have accrued late payment charges of £75 plus interest and had an employee chasing me for this yesterday. When I mentioned they were unlawful charges anyway, he said that they are not a 'bank' so the current charges claim situation doesn't apply to them. Should I refuse to pay these charges?

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Would I be able to claim back charges from Peugeot Finance? I was working when I took out a car finance contract with them in March 1994 but have subsequently had to give up work due to ill health. I explained this to them in writing at the end of 1995 and asked them if it was possible to reduce my monthly payments and extend the loan period but they refused.

 

I cancelled the direct debit because one month it bounced due to lack of funds in my bank account (I am now solely reliant on benefits), which resulted in a £38 charge from the bank as well as the £25 late payment fee from Peugeot. I have been struggling with the monthly payments ever since, hence the charges.

 

I am at the end of the three year contract and need to give them the 'balloon' payment by 7th April, so am in the process of seeking finance elsewhere or else I will have to give them back the car, which isn't an option with my medical condition. I have accrued late payment charges of £75 plus interest and had an employee chasing me for this yesterday. When I mentioned they were unlawful charges anyway, he said that they are not a 'bank' so the current charges claim situation doesn't apply to them. Should I refuse to pay these charges?

 

Hey man, they are not a bank seems to be the standard line of defence. Interesting as Peugeot Financial Services are a branch of Banque PSA - how would they explain this? Anyway, you sould be covered by the Unfair terms in Consumer Contracts. They seem to be less than confident of their position in the charges debate - be robust and go for it.

09/07/09 :)Business Studies BA(Hons) 2:1:)

 

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