Proof Of Direct Link Between Ppi Payments And New Car Registrations?

[Fiddly-Dee]

It has been mooted on here many times that the huge increase in new car registrations, largely via PCP and PCH schemes (which are not "sales", in my view), is directly attributable to PPI payouts. Below is a quote from a current job ad (I have not posted the link, nor the full ad, in case these may be naughty) - am I reading this correctly? A car dealership "assists" a customer with their PPI claim, "helpfully" pushing out a nice finance offer (presumably using the PPI free money as the first payment on a PCP or PCH deal) to get said customer into some shiny new motor?

"A leading car dealership is is looking for an experienced and competent Customer Service Advisor to support and excel within their growing team in Fxxxxxxxxxxxxxx.

This role does not require any qualifications, however it does require confidence with excel and calculations as you will be working within the PPI team. The team receive PPI claim forms from customers and extract the data into systems. So attention to detail is vital.

Although there is not a huge amount of call-time involved, you must be good in regards to customer and public relationships as there will be a need for face to face working with internal customers.

The role is available immediately on a temporary contract"

Quite a smart idea, making the parting of the dumb public and their ill-gotten gains so very easy...

[Sancho Panza]

I think-iirc-it was Zugzwang who first posted a chart of that linkage and I remember thinking at the time that the correlation was more than coincidental.

This is the proof of the pudding.Any chance you can post the link?

It always riles me when I see the dealers advertising for motability customers.There's something ironic about taxpayers buying cars for people that many couldn't afford for themselves.

Edited May 19, 2016 by Sancho Panza

[nome]

Sorry if this is a bit of a dumb question but with all these ppi payouts that just about everyone seems to be getting (not me, never had it).... are people actually getting compo on top of having their "miss sold" ppi payments refunded?

[19 year mortgage 8itch]

Sorry if this is a bit of a dumb question but with all these ppi payouts that just about everyone seems to be getting (not me, never had it).... are people actually getting compo on top of having their "miss sold" ppi payments refunded?

I would certainly call a silly flat interest rate like 8% or whatever it is per year on their payments as, "compo". Edited May 19, 2016 by 24 year mortgage 8itch

[rantnrave]

Colleague at work said she was spending very recklessly and got herself into a lot of (non-property) debt last decade. She managed to get on top of that and received a PPI payment a couple of years ago, which she is overjoyed about because she says she's actually got some savings now for the first time in her life.

Really makes me wonder why I bother to be so prudent.

[Sancho Panza]

Colleague at work said she was spending very recklessly and got herself into a lot of (non-property) debt last decade. She managed to get on top of that and received a PPI payment a couple of years ago, which she is overjoyed about because she says she's actually got some savings now for the first time in her life.

Really makes me wonder why I bother to be so prudent.

The best bit if you're a net taxpayer,you're paying for it via subsidies to the banking system,eg ZIRP,HTB1+2,FLS etc.

Crazy.Utterly crazy.

[ccc]

I am always amazed by the difference in people's attitude to cars vs houses.

CARS:

Oh you see Dave has a nice new Merc ?

Oh yes - lovely car.

[ZERO MENTION IF THEY ACTUALLY OWN IT OR NOT - WHETHER ITS BOUGHT OUTRIGHT, HP, PCP OR PCH]

HOUSES:

Oh you see Dave has a nice new house up the road ?

Oh yes - does he own it or rent it ?

Rents it.

Meh

Edited May 19, 2016 by ccc

[Sancho Panza]

I am always amazed by the difference in people's attitude to cars vs houses.

CARS:

Oh you see Dave has a nice new Merc ?

Oh yes - lovely car.

[ZERO MENTION IF THEY ACTUALLY OWN IT OR NOT - WHETHER ITS BOUGHT OUTRIGHT, HP, PCP OR PCH]

HOUSES:

Oh you see Dave has a nice new house up the road ?

Oh yes - does he own it or rent it ?

Rents it.

Meh

Great point especially re lease cars................

[Fully Detached]

Great point especially re lease cars................

The ability to lease a nice car now seems to be a more widely accepted indicator of high income than the ability to go out and actually buy one with your own money. I love it when I see some 20 something in a brand new Audi looking at me like I'm a loser in a car that costs the same new but is 5 years old.

Difference is, I own mine sunshine.

[Fiddly-Dee]

I think-iirc-it was Zugzwang who first posted a chart of that linkage and I remember thinking at the time that the correlation was more than coincidental.

This is the proof of the pudding.Any chance you can post the link?

It always riles me when I see the dealers advertising for motability customers.There's something ironic about taxpayers buying cars for people that many couldn't afford for themselves.

Link below, as requested.

https://fusionpeople.com/jobdetails-741693?utm_source=Indeed&utm_medium=organic&utm_campaign=Indeed

[Blod]

Sorry if this is a bit of a dumb question but with all these ppi payouts that just about everyone seems to be getting (not me, never had it).... are people actually getting compo on top of having their "miss sold" ppi payments refunded?

Yeah, never had PPI. It's creating an attitude that you can ignore common sense and it'll all work out in the end. You can see it in the BTLers, how dare anything challenge my position, it shouldn't be allowed.

[Fiddly-Dee]

Link below, as requested.

https://fusionpeople.com/jobdetails-741693?utm_source=Indeed&utm_medium=organic&utm_campaign=Indeed

Sorry, linky no worky, try this one:

https://fusionpeople.com/jobdetails-741693

[Cosmic Apple]

The ability to lease a nice car now seems to be a more widely accepted indicator of high income than the ability to go out and actually buy one with your own money. I love it when I see some 20 something in a brand new Audi looking at me like I'm a loser in a car that costs the same new but is 5 years old.

Difference is, I own mine sunshine.

Childish I know but I absolutely love the 20 somethings in their silly lease Audis looking at my 14 year old car... they don't see it for long though and probably realize they could have bought something good/fun with all that money spunked on a heavy underpowered but flash looking lease car

[R K]

I think-iirc-it was Zugzwang who first posted a chart of that linkage and I remember thinking at the time that the correlation was more than coincidental.

This is the proof of the pudding.Any chance you can post the link?

It always riles me when I see the dealers advertising for motability customers.There's something ironic about taxpayers buying cars for people that many couldn't afford for themselves.

My understanding is that a disabled motability punter has to swap their disability allowance which goes towards a lease.

Like any other leased vehicle these are basically profitable for the vendor.

Not sure what it has to do with the "taxpayer".

[eek]

My understanding is that a disabled motability punter has to swap their disability allowance which goes towards a lease.

Like any other leased vehicle these are basically profitable for the vendor.

Not sure what it has to do with the "taxpayer".

taxpayer pays the disability allowance (that's all really). And for many its a good swap, their disability allowance for a hassle free car...

[nome]

The sad fact is that being a debt junkie does pay... I've mentioned on here before someone I knew around 5 years ago got themselves into almost £40k of non property debt, they ended up getting over 3/4 of it written off.

They now once again have the same level of luxurious (compared to mine) lifestyle, nice car, numerous holidays and mini breaks, all the latest tech, all no doubt once again paid for with similar levels of debt as I know their income hasn't changed.

Right now I really do feel like I've ******ed up and wasted most of my life by being prudent and cautious and living well within my means, denying myself luxuries and treats that many other people seem to take for granted.

[Craig_]

Yeah, never had PPI. It's creating an attitude that you can ignore common sense and it'll all work out in the end. You can see it in the BTLers, how dare anything challenge my position, it shouldn't be allowed.

Or indeed investors in RBS shares, they were fairly bleating last week about being 'mis-sold' their (highly risky) investments.

[gibbon]

"A leading car dealership is is looking for an experienced and competent Customer Service Advisor to support and excel within their growing team in Fxxxxxxxxxxxxxx.

This role does not require any qualifications, however it does require confidence with excel and calculations as you will be working within the PPI team. The team receive PPI claim forms from customers and extract the data into systems. So attention to detail is vital.

Although there is not a huge amount of call-time involved, you must be good in regards to customer and public relationships as there will be a need for face to face working with internal customers.

The role is available immediately on a temporary contract

So you goto a car dealership, ask for finance and they try getting you to claim for PPI at the same time to go towards the car? Isn't the time frames quite different, 12+ weeks at the minimum for PPI whereas I'm guessing you get finance for a car pretty quickly? Plus there's the risk your PPI claim isn't successful. Be interesting to know the specifics

[janch]

The sad fact is that being a debt junkie does pay... I've mentioned on here before someone I knew around 5 years ago got themselves into almost £40k of non property debt, they ended up getting over 3/4 of it written off.

They now once again have the same level of luxurious (compared to mine) lifestyle, nice car, numerous holidays and mini breaks, all the latest tech, all no doubt once again paid for with similar levels of debt as I know their income hasn't changed.

Right now I really do feel like I've ******ed up and wasted most of my life by being prudent and cautious and living well within my means, denying myself luxuries and treats that many other people seem to take for granted.

But you can sleep at night and in the end it will all end in tears for them.........

I love it that my neighbour hates my 22 year old Corsa which has provided me with very cheap motoring over the years and which I had from new. I keep telling people who mock that it's a "design classic". If I keep it a bit longer it won't even cost me anything to tax it

[ccc]

So you goto a car dealership, ask for finance and they try getting you to claim for PPI at the same time to go towards the car? Isn't the time frames quite different, 12+ weeks at the minimum for PPI whereas I'm guessing you get finance for a car pretty quickly? Plus there's the risk your PPI claim isn't successful. Be interesting to know the specifics

Maybe they are just getting in on the PPI game ?

Seems rather late - but perhaps they know something we don't...

[CunningPlan]

Maybe they are just getting in on the PPI game ?

Seems rather late - but perhaps they know something we don't...

How much PPI was mis-sold on car loans? They have the data since they did the mis-selling.'

'Dear Fred, we mis-sold you a loan three years ago. You are entitled to £3k compensation which just happens to be the deposit required for the new car loan I have for you'

[nome]

But you can sleep at night and in the end it will all end in tears for them.........

True enough I personally couldn't sleep at night if I had any debt, no matter how serviceable it was... but most debt junkies have a different personality and it genuinely doesn't seem to bother them, in fact they seem to view debt as something they're entitled to and it's just a routine part of life.

And it certainly didn't end in tears for the person I know... well, apart from tears of laughter when they had £30k of debt written off leaving them free to do it all over again.

[ccc]

How much PPI was mis-sold on car loans? They have the data since they did the mis-selling.'

'Dear Fred, we mis-sold you a loan three years ago. You are entitled to £3k compensation which just happens to be the deposit required for the new car loan I have for you'

Could be.

[streamingfreedom]

The sad fact is that being a debt junkie does pay... I've mentioned on here before someone I knew around 5 years ago got themselves into almost £40k of non property debt, they ended up getting over 3/4 of it written off.

They now once again have the same level of luxurious (compared to mine) lifestyle, nice car, numerous holidays and mini breaks, all the latest tech, all no doubt once again paid for with similar levels of debt as I know their income hasn't changed.

Right now I really do feel like I've ******ed up and wasted most of my life by being prudent and cautious and living well within my means, denying myself luxuries and treats that many other people seem to take for granted.

Takers may eat better but givers sleep better

[winkie]

Since earning a living wage has become harder for the growing numbers of working people, how do they think they can spend money if not given it....it was not given, it was taken then given back to send again......the not so good thing about this is that something right has to come from something seen as not good or helpful....you want something, this is the fee that you have to pay to enable you to get it......think of the fees taken for all kinds of services nowadays including renting a AST........stock market investments etc, etc......