Yes car credit up to their old tricks

Thu, 19 Oct 2006



The Yes Car Credit fiasco was one of the worst to hit the motor finance industry in recent years, and yet despite it being almost one year since the company failed, problems with their remaining customers are ongoing and serious. The news, above all else, indicates that car finance customers should seek out trusted brand names, not just the best deals.

Apparently, a year on from the demise of the car sales and loans company Yes Car Credit, customers are still having major problems. If they attempt to return vehicles, Yes Car Credit apparently levy huge bills, and if customers fall behind with payments the company are threatening and aggressive. Cars have apparently been repossessed without court order, and numerous huge charges have been applied to accounts .

Yes Car Credit went down in flames following a BBC expose that highlighted the very worst side of the car finance industry. The company had £240 million in outstanding loans following their closure, much of which has been sold on. Some debt collection agencies are employing underground tactics typical of the seedier side of their industry.

Despite an agreement, when customers return their cars to the company, they are being hit with charges for insurance policies they were forced to take out and warranties that were completely unnecessary.
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