Mis-Selling Car loans Supreme court ruling etc.

Mysterae_ said:
Here's an interesting take:

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This guy sold me my BMW 440i.

With a missing ATM Unit - refused to replace it as its dealer only and cost £1200 - Was forced to buy one myself because BMW couldn't get their software to talk to the car with it missing.
No Android auto as advertised - Bought a MII Box... as if that solves the issue with the missing ATM unit
Crash damage to front bumper without declaring it.

Yea... He's one to listen to xD
 
Diagro said:
This guy sold me my BMW 440i.

With a missing ATM Unit - refused to replace it as its dealer only and cost £1200 - Was forced to buy one myself because BMW couldn't get their software to talk to the car with it missing.
No Android auto as advertised - Bought a MII Box... as if that solves the issue with the missing ATM unit
Crash damage to front bumper without declaring it.

Yea... He's one to listen to xD
Click to expand...

Mis-trust in car dealers restored!
 
from news today(&Lewis on r4) sounds like some payout is coming - I doubt the court rule that cost of servicing payouts will not be loaded into setup costs for new finance deals, though.
( Did VAG car prices increase after dieselgate )
 
I know I have had 2 finance agreements since 2007 but have no paperwork or agreement numbers. I don't know who the companies were. I've tried contacting a few of the bigger names but they say they have no details for me. So I'm hoping these companies will be forced to contact everyone affected. Can only hope.
 
I signed some car finance today - it’s now mentioned all over it that the dealers get commission and exactly how much it would be if I repaid it for the full term, with the salesperson making a big deal of it too.
 
Wonder what the process is. Do I have to "put in@ to see if anything is owed or are the companies going to be made to do that?
 
Penfold101 said:
I signed some car finance today - it’s now mentioned all over it that the dealers get commission and exactly how much it would be if I repaid it for the full term, with the salesperson making a big deal of it too.
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I had the same last week when buying a car for the wife. The agreement explicitly states "we are being paid £850 commission for this finance contract" in bold letters - they ain't taking any chances any more.
 
but if this is representative of finance cost regime - finance company anyway, can bury what they want in there for their commission, change it across the month ...
and, if it is the manufacturer themselves incestuously give a monthly bonus to local salesmen, based on number of cars sold, say

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seems pretty scary that variance - have not looked at credit ratings
 
Penfold101 said:
I signed some car finance today - it’s now mentioned all over it that the dealers get commission and exactly how much it would be if I repaid it for the full term, with the salesperson making a big deal of it too.
Click to expand...

The question is, does it affect your decision?

That's what the current "mis-selling" furore is over.
 
Penfold101 said:
Personally, no - it’s right you should know the full financial details though.
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How much money are they making on every other part of the sale, the margin on the vehicle or how much commission does the salesman get?

When you borrow money from the bank, do you get told how much the bank is making, or the branch dealing with your mortgage?

The reality is that the price is what it is, and people should shop around and compare. That's what people decide on.

DCA should be banned, which it has been since 2021. Most compensation claims are relating to this and not just on the fact commission was paid, so not all bad.
 
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