This video highlights some of the issues people are dealing with during the Covid 19 crisis & areas we have identified that may be helpful.
This video highlights some of the issues people are dealing with during the Covid 19 crisis &
areas we have identified that may be helpful.
The Financial Conduct Authority (FCA) has published a report in March 2019 called our work on motor finance - final findings. We would suggest that you read this report as it is a public document and will give you a better understanding of motor finance and the issues identified. https://www.fca.org.uk/publication/multi-firm-reviews/our-work-on-motor-finance-final-findings.pdf .
Payment Deferral FCA Motor finance agreements: https://www.fca.org.uk/publications/finalised-guidance/motor-finance-agreements-and-coronavirus-temporary-guidance-firms
Payment Deferral For Insurance FCA Coronavirus Information: https://www.fca.org.uk/consumers/coronavirus-information-personal-loans-credit-cards-overdrafts
ICO SARs How to access your information: https://ico.org.uk/your-data-matters/crime/
This video covers our Top 9 Tips on what you should do during the Covid 19 Crisis.
Visit Mis Sold Car Finance site regularly for any tips or advice. Also any new development with Government, finance houses, insurance companies, credit reference agencies, new laws or legislation.
Prepare a financial plan build in lots of variables e.g. if you had no income over the next 3 months, 6 months, 9 months etc. Look at your outgoings and overheads or cost of living. Make sure you can survive financially. Plan a strategy ahead and prioritise what you would need to pay to survive, food, clothing, rent, mortgage, house insurance etc. Financial pressures can cause lots of anxiety and stress and even lead to depression. So plan ahead and ask for payment breaks ahead of when you think you may need them. If possible, have an emergency plan in place where you can raise money quickly.
Keep your car insured even if have a payment break on your car finance. Insurance companies are strict and will look for a reason not to pay out so if you achieve a payment break with your insurance company make sure you have it in writing and that you still have the same level of cover as before and there are no restrictions or penalties.
Keep your car taxed + MOT'd it is easy to overlook these but they could result in a fine or your car being clamped.
You may not be able to use your car as often during the Covid 19 crisis, therefore if possible start your car daily and move short distance to keep battery charged and brakes from seizing on.
Keep the level of fuel high in your car as the Covid 19 crisis could resort in some garages closing or fuel delivery issues so if you have to drive a distance to top up you're fine, or if you are unable to get fuel for a few days you will manage.
Carry out quick level and safety check on your car fuel, water, oil, tyre pressures, tyre tread depth, washer fluid etc. In case there's any issues and local garages are not open due to Covid 19.
If in lockdown or self isolation make sure you excercise, fit in body, fit in mind. If you are not sure what to do then go online and google some excersises you can do at home squats, press ups, lunges, sit ups, burpes etc. Watch your diet it is easy to fall into bad habits and eat the wrong foods. Just be aware of calories in versus calories out stay fit and healthy.
If on lockdown or self isolation etc. try to use your time wisely e.g. learn a new skill e.g. computer social media, knitting, juggling, anything to keep you fit in mind.
This video explains what you should do concerning your car Insurance during the Coronavirus.
* PROTECT LIVES
* PROTECT FAMILIES
* PROTECT LIVELIHOODS
We have setup a Go Fund Me Page to allow us to continue to offer FREE infomation relating to cars
and car finance for individuals effected by the current Covid-19 crisis and the effects this is having
on individuals and companies financially. Please donate as little or as much as you can. Go Fund Me >
The team at Mis Sold Car Finance have been involved in the motor and finance industry for over 35 years.
We have a wealth of experience in dealing with car dealers both independant and franchised.
Mis Sold Car Finance is not a claims management company and are not approved or regulated under the Financial Conduct Authority. We do not charge for any information provided as this is done on a FREE basis.
Over the years we have helped 1000's of customers dealing direct with them, to resolve any issue they might have with the supplying dealer or finance companies.
Mis selling comes in so many different forms and is strictly controlled under the Financial Conduct Authority. In our experience, it is imperative to use someone of sound motortrade background to assist you as they understand the techniques used to sell vehicles and finance. They are experienced to calculate valuations + depreciation of vehicles etc. which is an important part when presenting information.