Hi, just an update.

Today, finally, received a reply from Stoneacre, rejecting my claim of miss selling or misleading stating that,

"Having discussed the level of cover and servicing requirement of our platinum guarantee, you agreed to purchase a 3 year policy for a total payment of £186.14 per month.

The finance document was explained to you before you signed and you were also given the pre contract information. You also signed the handover check list which confirms that the figures on the order form and finance documents had been explained to you and mutually agreed"

Actually I didn't agree to purchase the guarantee at £186 over 3 years, I agreed to buy the guarantee at £2 per week. The £186 includes the car and is over 5 years! (eek). I have not replied, should I?

Handover check list? didn't get a copy of this or I might have picked up it quicker.

Rang Barclays as I haven't had an answer and they confirm receipt and they haven't replied as yet, as it is under investigation.

More to follow,

Thanks

John

Actually I didn't agree to purchase the guarantee at £186 over 3 years, I agreed to buy the guarantee at £2 per week. The £186 includes the car and is over 5 years! (eek). I have not replied, should I?

Handover check list? didn't get a copy of this or I might have picked up it quicker.

Yes, of course send a reply by recorded delivery... firmly repudiating the above incorrect facts in their letter, inform them of the truth, stating had you been aware ...you would never have considered purchasing this expensive policy at those extortionate costs, let alone your permission or consent for it to be added to the finance agreement to accumulate interest.

Anyone of sane mind would not have even considered it, that's why the salesman seemed happy at the time. !!!

Have you also checked the wording of this policy or with the provider, to determine what cooling off periods applied.?

Keep us updated and keep the pressure on (Barclays) the finance company, inform them unless they remove this unwanted policy from the finance agreement, it would be your intention to complain to the FOS (financial ombudsman service) they as the finance providers are equally liable.

Thanks, I will write to him again, and await the response of Barclays.

Unfortunately there is no cooling off period as the guarantee is non-transferrable, non cancellable and has no surrender value, now who would sign that if they had read the t&c's?! The only way you sign for this is, unknowingly.

Agreed, the incorrect and misleading way in which this has been sold to you, suggests they are additionally also in breach of the Unfair trading regulations 2008...below

http://whatconsumer.co.uk/misleading-commercial-practices-unfair-trading-regulations-2008/

Replaced later with the : Consumer Protection from Unfair Trading Regulations 2008....below

http://www.out-law.com/page-9050

Keep the pressure on these people, eventually they will have to give or else suffer the consequences of their actions ..with perhaps even the whole finance agreement being declared null & void.!

You may find it advantageous to remind both parties by recorded delivery, pointing out the above facts and reminding them of this possibility..should it be necessary for the trading standards to become involved in this issue.

Thanks a lot, very interesting especially "Misleading omissions are made when a trader omits or hides material information, provides it in an unclear, unintelligible, ambiguous or untimely manner, or fails to make it clear he has a commercial intent" which is what he did.

Isn't there some consumer law prohibiting the lack of a cooling off period for intangible things such as paid for warranties? I've tried to search but to be honest I don't think I've done it right.

In the meantime I will send them another snotty letter.

A used car extended warranty is a vehicle service contract between the car warranty company and you as the car owner. These warranties are NOT normally classed as insurance policies, as such they are considered in much the same light as domestic central heating breakdown service contracts. They are not covered by the insurance ombudsman and do not fall under their usual remit. Any cooling off period is discretionary, not mandatory.. unless of course a cooling off period is stated then one does not necessarilly apply as a statutory right.

However, your complaint is more detailed and complex; in your case this warranty has been misleadingly applied and added to your finance agreement without your full knowledge, hence the policy has not been sold fairly neither were you informed of the full extortionate cost......this is where the Insurance ombudsman at the FOS could become involved and intervene in your situation.!

Other points :

1) The true and full cost of this extended warranty was not explained or fully understood by yourself at the time of sale, neither was it explained the true cost of this extortianate policy would incur all that extra associated interest, which you only became aware of after the finance agreement has been signed.

2) They should not have lumped it together to accrue interest by adding it to your finance deal, you should have at the very least been given the full opportunity to consider paying seperately for this contract, which consequently would not have been added to the finance agreement... hence reducing the overall high and long running cost, plus interest. (assuming you had even wanted it, when the true cost was revealed)

3) Barclays finance as the other liable party involved in the three way finance agreement are equally responsible for ensuring you were aware and knowingly consented once you fully understood..... before signing acceptance, after you had understood and been fully informed of all the true overall costs and conditions of what was to appear on the finance agreement.......if not, then they... Barclays, are fully responsible for amending and rectifying this problem.

4) The full implications and costs that the garage salesman mislead you with plus the interest, were not explained to you at point of sale, neither were you made aware of these ridiculous high costs that they were intending to add to the finance agreement. Therefore under the regulations as posted above; this policy was misleadingly and unfairly sold to you....this further involves the trading standards, as the garage salesman has breached the above recently introduced regulations by the methods used in selling this policy to yourself, they have failed to inform you about all the relevant unreasonable costs and have further failed in their duty to provide you with a fully informed free choice.!

Thanks, I now have more ammunition for my next reply.

I still await Barclays results of their investigation which I am keen to recieve.

With reagrd to "3" above, how could Barclays ensure I had been fully informed if the agreement was signed in their absence? Or have I read it wrong.

Jola:

Thanks, I now have more ammunition for my next reply.

I still await Barclays results of their investigation which I am keen to recieve.

With reagrd to "3" above, how could Barclays ensure I had been fully informed if the agreement was signed in their absence? Or have I read it wrong.

Thanks.

Latest is that I have now recieved a letter from Barclays, confirming that an investigation is being carried out.

Just had the dealers' regional manager on the phone who has advised that (politely) they have documents signed stating the amounts we were to pay, broken down and we have signed for a three year guarantee. We still have not got the breakdown from them or Barclays.

They are aware of this thread and will probably read this post too and they are concerned about what they think are slanderous remarks in it? They also pointed out that we have purchased a guarantee not a warranty. As far as I'm concerned, whatever they call it, we've purchased something we don't want nor were aware of.

They wanted to meet to agree something but I refused as there is little point as they will just show us what we signed for and in their view this will be irrevocable. Neither do I want to spend my free time with them.

I said we will leave it to take it's course through the various legal channels.

No slanderous remarks whatsoever are contained in this thread; factual comments beliefs and opinions are not slanderous. By the way slander is verbally making a defamatory or maliciously false statement which you know to be untrue....whilst libellous is the correct term for the same act in written form....there is a big difference. !

If this regional manager wishes (or if he is reading), tell him to post his contact details and I will have my legal team contact him and take the matter up with him directly, or I will gladly supply my contact details ...what more can I add to that.?

Jola - They also pointed out that we have purchased a guarantee not a warranty.

That quote above is late in the day... they should definitely have pointed that out at the point of sale, as well as making all the other necessary disclosures to you.?

You are correct though; whatever name they wish to refer to it as, if you did not require it to be added onto the finance at those disadvantageous terms without consenting, or being fully aware of the extortionate cost, or unacceptable terms (which you were never given the chance to fully read or inspect.)..... it has therefore been unfairly sold by the use of misleading sales tactics.

You require this removing totally ..stick to your guns you are legally and morally right on this. !

Most decent establishments would either not have applied this policy under those conditions in the first place, or have simply removed this on your request, without you having to fight for your rights.... especially as you contacted them immediately when you became aware of the full implications....failing that they should be ashamed of their actions.!

Conmankiller: "No slanderous remarks whatsoever are contained in this thread;"

Well I read through it all and couldn't find anything slanderous/libellous.

Thankyou Conmankiller, please don't think I, at any time doubted you, just reporting as is. I think they're trying the scare tactics which have an adverse affect on me.

Something has occurred to me in the event of things which I would rather "keep up my sleeve" but this proves to my innerself, I was truly misled albeit a simple twist you would hardly notice.

Thanks

Today I have received a letter from Barclays, the decining paraghraph stating "Whilst I sympathise with your situation I must advise that on your finance agreement it states your balance is £7975.00. You signed your finance agreement agreeing to the terms and conditions therefore we are unable to amend the balance on the account"

Btw I still do not have an agreement with a breakdown and I reiterate that the figures on dealership finance agreements make no sense usuallly to the layman, to me anyway.

There are a couple of things I do not want to put on here openly as it is being monitered but they tell me to contact the customer relations department next so I'll let them know, followed by the financial ombudsman service.

I have 8 weeks to reply before the file is shut but it will be nearer 8 hours before I reply.

Note: This post has been moderated. Please ensure you read the moneysupermarket.com Community Standards and Terms of Service before posting. Thanks

Note: This post has been moderated. Please ensure you read the moneysupermarket.com Community Standards and Terms of Service before posting. Thanks

Sorry was it the link? I didn't know but I now know they aren't allowed - won't do it again

Stick with your plans Jola.

You are well within your rights on this one and they know it.....if the finance company aren't willing to resolve this matter amicably, then the FOS is your next step.

The fact you signed a document does not give legal credibility to the act if you were either mislead, misinformed, uninformed or were unaware of the full costs... or the key terms and conditions and the long term implications. If the way in which it was sold is deemed unfair the FOS will throw it out, at a cost to the finance company for themselves having to intervene.