PPI on motor finance with Black Horse

[melk80]

Hi, I wonder if anyone can help.
We bought a car and signed for finance for £10500 and distinctively remember being told it was at base rate 5% on the loan and no administration fee as that's the only way they would give Black Horse their custom.

I cannot find any agreement reference but it was settled 7 years ago on 2nd Feb 08.

I called and they couldn't find anything on their system.
I then filled out their PPI complaint questionnaire and was sent it back saying it was older that 3 years and would need an agreement number.
I rang the garage and was told they wouldn't have anything in their offices due to time scale and they didn't add PPI on loans.
I have written to my banks archive and no luck either.

I am about to send a SAR with £10 and included DOB, date it started and date and final amount we settled including the monthly amount. Would this churn up any information they have or will they be likely to come back with the same request for an agreement number.

If I referred this to FOS would they have more power to investigate whether they have any information on record?

Or should I give this up as a bad job?

We don't even know if we had PPI. We do know it was not even mentioned by the car sales man.
All I know is the loan was £10500 and supposedly 5% APR, with repayments being £225.44 p/m for 60 months. (this clearly doesn't add up but we were very new to loans & calculations etc. I know the IR seems low.

We were looking at 2 different cars at the time and the second garage didn't believe us when we tried to haggle their 7.9%APR. This resulted in the branch manager shouting and swearing at us when we proved it with a printout of the other car. So these circumstances are the reason we remember vividly the sale lol.

Any help would be really appreciated, and apologies if I have waffled lol

- - - Updated - - -

Perhapse should have spell checked before posting

[Amethyst]

Re: PPI on motor finance with Black Horse

If it was dead on 5% then looks like you were paying £28 a month on top of what it should have been, so yes COULD have been PPI.

Your SAR should be on just your name / address /DOB + past addresses etc. as it is for all information about you as an individual, not just an account. However due to the age you could come into problems with what documentation they have. Is the SAR off to Black Horse ?

You don't have anything filed away anywhere at all ? settlement letter etc maybe ?

[melk80]

Re: PPI on motor finance with Black Horse

Hi, and thank you for replying. Yes it is off to Black Horse as that is who the DDs were going to. Having since searched the garage it looks like it has some sort of partnership with the dealership.
We don't have anything left as my partner and I separated, he paid off the remainder of the loan in a lump sum when we split. Although he is still at the address he had since married and they cleared the house to redecorate. (We are persuing this as a joint venture as we are still friends)
We had an SAR from nationwide for a mortgage that was paid off 10 years ago but we had the agreement number for that.
I have quoted in the letter that the 'SAR is a request for ALL information they hold for me and is not open to interpretation' and if they are unable to find anything due to time scale that I request a copy of their certificate of destruction.
Does that sound ok?
Thank you

[melk80]

Re: PPI on motor finance with Black Horse

So I sent off an SAR requesting all information they hold on me including and loan agreements and they have come back sayinging without an agreement number they are unable to trace the loan. Is this a lost cause or are they avoiding sending me any information they hold on me? Is there any point in referring it to the FSA?

Thank you in advance

[Kevinelly]

Re: PPI on motor finance with Black Horse

Lloyds Group, of which Black Horse are part of, have just been fined £117 million pounds for not disclosing documents in connection with PPI claims. Financial Ombudsman will be able to advise. Please be aware that their settlements procedures will also be incorrect since they will probably not have included full early repayment rebate on your closing settlement. Complicated but you need to establish that you have been paying PPI first. Once you've done that I could advise further.

They will almost certainly have records.