Just got a cheque from BMW £1800!

[alistairgd]

Before I changed to Mercedes 2 years ago, I had a BMW on their 4 year finance deal. I gave them the car back and took the settlement as a down payment on the Mercedes deal.

Today out of the blue I get a letter from BMW Financial Services saying that because their "annual" statements actually exceeded one year, they fell foul of the Consumer Credit Act.

It says that this did not affect the actual repayment sums I made, but due to the error they are bound by the Act to pay a sum - and that sum in my case is over £1800!

Merry Christmas!!

 

[st13phil]

My wife had a similar experience with MB Finance.

It comes as a pleasant surprise, doesn't it?

 

[Rory]

That seems a chunky amount.

I've seen comments about Porsche owners being sent compentation too, from memory usually a few hundred pounds.

 

[alistairgd]

That's the part that doesn't make sense to me, first of all it says that the payments I made were unaffected, then it goes on to say the sum is interest and default sums charged to my account relating to the period.

 

[moonloops]

That's the part that doesn't make sense to me, first of all it says that the payments I made were unaffected, then it goes on to say the sum is interest and default sums charged to my account relating to the period.

I got something similar from Audi, if I remember right they pay you back interest you paid for the period while not receiving statements.

 

[Neil Mackay]

My wife also just recently had the same from Hyundai!!

 

[John]

I believe the fine from the FSA for this sort of ccok piggery if they try and stitch you up with a paltrey sum or "just forget it" is quite a bit more than if they fork out this kind of 'modest sum'.