I bought a car Vauxhall Vectra from Yes car credit a couple of years ago. I pay £170 every month and i will do so for the next 24 months. I was made to believe that i had to take all sorts of insuarances which accounts for £80 of the £170 i pay. I feel that this is a rip off and i am looking for help. What can i do? Are there any people with the same problem as me? Please help!!

Hi!

I take it you are referring to payment protection insurance? I tend to agree that this is expensive and unnecessary in many cases, but, without knowing further details, it's hard to say whether you were wise to take it out. As for the proportion of the amount you pay bveing for your insurance, well, yes, that does seem very high - almost 50% of your repayment. However, it could possibly be that the premiums are loaded, or weighted, to be sizeable at the start of the term and less at the end.

Having signed the relevant forms to take out this insurance, it is often difficult to then extricate oneself from the position of having to pay for it. You could approach Yes CC on the basis that you were misled, and see if they will consider cancelling the insurance and refunding that element of the payments you have already made.

I'd suggest that you start by approaching Yes, and talking to them in general terms about how unhappy you are. See what they say. You might just be lucky. Also, check your documents for an opt-out period during which you can cancel.

If you can give me more detail as to excatly what this insurance is for, I might have some more ideas for you.

Cat

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Hi

 I am in a terrible situation and i dont know what to do about it. I brought a Fiat Punto and had this for about 6 months. I could not afford the montly payments and in the end it goe repossed as i thought this was the best option at that time. They valued the car, and i am still owing them alot of money which i have been making small payments of £25 after negiotating with ycc. The debt to date is around £6000!!! (for a car that i dont even have!). Now during those 6 months, the gear stick went totally whilst on the motorway and a few months later, the exhaust busted. I am beginning to realise that the car was a death machine! i didnt understand at the time but now i can see that there was just endless serious faults with the car - how can they sell me something like that? and then i agree with you - they didnt explain the insurance part of it properly! i do feel misled and cheated. I have letters and documents that state the times when AA came to collect the car etc. is there anyway of gettin any help? I believed ycc was hit down as it was found not to be carrying out checks on the cars - i think the car i brought was one of them! can someone please give me some advice! £6000 is alot of money and something that i cant afford :(   A Friend suggested citizens advice beareau who offer advise on debt....?

hi there i was in the same position as soon as i payed a certain amount i handed the car back , it will say this in your contract and how much you will have to pay before you can do this . they wont like it but once you have payed that certain amount theres nothing they can do its the law . when i had done this i went with a high street garage with finance ,

hi mechoc i'me owle just joined today, I was reading through ycc web sites because I have a vested interest in them as I bought a ford mondeo from them in september 2005, I couldn't help but notice the similarities between the two of us when it comes to buying a car from this company, I will try to explain what has happend with me, I bought the car as I said in sep 2005 in the first week I noticed the front break disks were badly scored so I asked them to replace them they said that they were within there operateing peramiters therefor they were ok and did not need replaceing however I argued the case with them and they agreed to change them, in the jan 2006 the handbreak was then sticking as yes car credit had ceased tradeing I went through the finance company they said nothing to do with them I had to contact the warrenty company then they never responded so I took the car to a local garage to find that both rear break cylinders were caput that cost me 155 pounds to repair there and then cos if I took it out as it was then I could possibly lose my breaks alltogether, then in sep 2006 I took the car for its first mot haveing only done 10000 miles in it and it failed on the front wheel bearings both sides the rear break pipes on the drivers side and the anti roll bar link again I complained and again I was told that this is just a result of normall driveing and thease things occur dureing the course of normall motering and that I need to contact the warrenty company as it wasn't there problem. this was the last straw for me and my partner, so I contacted consumer direct on the internet if you google them then it will come up they are fantastic for advice on what to do next if you were promised when you bought the car that they had carried out a 125 point check on the car and you can prove that they didn't carry out this check then it is classed as miss representation and breach of the sale of goods act but dont quote me on this as I may have it slightly wrong but if you contact consumer direct then they can put you in the right direction as it is I am takeing yes car credit to court my hearing date is 12 october not long to go, when we have a decision by the court I will then let you all know how it went. in ref to the insurence go to martin lewises web site moneysaveing expert on google you will learn a lot. talk soon.

 

Yes car credit have a dreadful reputation. They've been on Watchdog and similar programs a few times. The time to realise that someone is trying to rip you off is before you sign the forms and create the standing order. Everytime you buy anything major these days, you end up being offered extra insurance or extended guarantees and most of these are a rip off. Personally I like to buy something like a car by pulling the money out of my back pocket and settling everything there and then. My current vehicle cost £300 six months ago and is still going well.

You may be able to stop paying the payment protection insurance and keep paying the loan repayments without penalty (other than ending any cover the insurance might have given). You'll need to look into the small print of the agreement and make it clear in writing what you are and are not continuing to pay. It is plainly extortionate to be paying £80 each month to protect a £110 monthly payment, particularly as they are quite likely to find some excuse not to pay up if you ran into problems.

I also need advice on what to do about a Toyota Avensis i bought from Yes Car 18 months ago.  Before I aquired it there was a problem with the stearing rack I'd insisted they put write before I accepted it.  I had the car serviced as is part of the agreement after six months and then every year since.  My car developed a smoking problem, so I was told by a mechanic that I need a new engine.  A new engine cost about £3000, the price of another Avensis.  The price I was charged for the car by Yes Car was originally was almost twice the market value of an 2000 plate car.  I have had to buy a car for £100 until I can raise the money for the engine which I don't think the warrantee pay out for.

This is the second car I have bought from Yes Car that had failed after 10 months of use.  The mileage is app 67,000 miles.  I haven't paid a 3rd of the debt off so I can't sell the car or return it.  What can I do?

Next time you want a vehicle, have a look through www.autotrader.co.uk for a private seller who seems a decent person and who is asking a reasonable price. Check the car as best you can (there are plenty of sites offering advice on this) and go with your feelings. If it all seems genuine, get the money out of the bank and pay cash. It is quite possible to get a decent car for the equivalent of a few months' payments that someone like Yes Car Credit will charge.

If a car bought from a dealer breaks down seriously after a short time, you can ask the dealer to fix it and if he doesn't even do a botched up job, you can try an action in a small claims court. However 18 moths is likely to be a bit too long to be able to do anything with the guarantee and/or a small claims court.

If the car is giving off smoke that has a blue tinge and if it is using a bit of oil, I would suggest that you ask around your local scrap yards for a replacement engine. An engine taken straight out of another Aventis should cost a couple of hundred pounds fitted. It is a gamble but it is better to gamble a couple of hundred pounds than to spend £3k on a 7 year old car. Sometimes scrap yards will give a 3 month guarantee, others will just tell you that the engine is running and not burning oil, but check this and don't deal with anyone who seems to be taking you for a ride. Other options include a reconditioned engine which will cost a litte more but may be in better condition depending on how well it has been reconditioned. If you cannot find a suitable engine, vehicles for "spares or repair" cost around £100 on eBay (be sure that the engine is good (and is the right one) and the body is poor rather than the other way round) and you should be able to find someone to fit the engine for about the same again.

I would guess that you should be able to find an engine for an Aventis from a scrap yard. Personally I stick to Vauxhalls (the same applies to Fords) because there are so many of them on the road and in the scrap yards that many parts are easy to get hold of cheaply.

Whether you fix the Aventis or not, you are likely to have to keep paying the loan payments although you may be able to get out of paying for any payment protection, or similar. You could see what it would cost to take out a bank loan to pay off the loan but this may not actually save you anything.

Thanks for the advice.  The situation I was when I bought the car, well, I thought I was desperate, because I needed a car to do job which is to travel around the borough I work in.  I have credit problems which, I suppose, I allowed Yes Car to exploit.  I am driving a 96 plate Granada Scorpio which I paid £100 for.  It handles better than the Advensis, and it feels more luxurious.  This has taught me that I don't need to spend big in order to find reliability. I am only driving it until I find the money to fix the Toyota.

I have leant my lessons about such companies as Yes Car, which have copied their business practices from American finance companies that expliot those of us who have credit problems.  Eventhough, Yes Car had a lot of negative press from the media, people were disappointed when they heard they had ceased trading.  Are well, the future bright.

Hi, I to have he same problem with the PPI ! I pay £209 a month for a 1.0 vauxhalll corsa and ive had it 2 1/2 years.I was forced into taking out the PPI as they said that without it i couldnt have the car so i signed and it isnt worth the paper it was printed on.. Since the day i drove it from the forecourt it had problems, within about 2 weeks i needed new brakes and a new exhaust. I called them and asked them to take a look and tey said it had nothing to do with them and to call the insurance people who again said " nothing to do with us ". So far i have prob had to spend £700-1000 on maintaining the car from faults which were supposed to be covered. I have tried to get out of it and suggested handing the car back but they say that i need to pay £1000 but it has been that for the last 4 months!

 

I missed a payment last november as i had changed jobs and paid a week later and was told that was fine and there were no penalties. So i aled about a week ago and the first thing i was asked was " are you calling to pay the charges " i asked what the charges where for and they said they were for november LAST YEAR!! I asked why i had no corrispondence from them egarding it and they said that dont inform you of charges. I have refused to pay them but they have aded them onto my nxt 3months payments.

 If anyone out there has sucessfully given the car back and not had to pay please get back to me as i am desparete to get shot of the car. 

Unfortunately you can give the car back or even sell it to them but you will still have to pay off the finance.

If you ever get to the stage where the car gets repossessed, they will add on lots of charges for doing this, then sell the car quickly (perhaps via an auction without giving it a wash & polish), they take the aggregate amount of the amount outstanding, the charges added and the amount the car sold for, then probably tell you that you owe more than you did before.

It is worth looking into the terms of the agreement though to see if you can stop paying for the payment protection insurance (and obviously stop the cover) but keep paying for the finance. If you can do this, you will need to write to explain that you want to stop the insurance cover but keep paying for the loan. If you don't tell them and just alter the payments, they may keep the insurance but stop paying for the loan and this could result in more problems.

I am past the halfway mark for the car payments so its only the PPI and insurances im paying for. When i call them they just say that i can hand car bk and end agreement for £1000 but its been that way for about 4 months.