{"id":158185,"date":"2024-10-21T13:10:31","date_gmt":"2024-10-21T13:10:31","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/10\/21\/volkswagen-cars-taken-away-with-little-warning-says-watchdog\/"},"modified":"2024-10-21T13:10:31","modified_gmt":"2024-10-21T13:10:31","slug":"volkswagen-cars-taken-away-with-little-warning-says-watchdog","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/10\/21\/volkswagen-cars-taken-away-with-little-warning-says-watchdog\/","title":{"rendered":"Volkswagen cars taken away with little warning, says watchdog"},"content":{"rendered":"
\"Volkswagen<\/div>


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Vulnerable people who owned cars through a loan scheme with Volkswagen’s finance arm had them taken away with “limited, if any” warning, a watchdog has ruled.<\/p>\n

One customer who was struggling to meet loan payments told Volkswagen Finance he was going through a difficult time and had tried to take his own life, but the firm showed “a lack of empathy”, the Financial Conduct Authority said.<\/p>\n

Around 110,000 customers will get a share of the \u00a321.5m compensation the FCA said VW Finance must pay for its failures.<\/p>\n

The FCA has also fined the firm \u00a35.4m for the behaviour. The company said it had made “significant adjustments” to its business since.<\/p>\n<\/div>\n

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VW Finance added it recognised its shortcomings and apologised for “any detriment caused”.<\/p>\n

According to the FCA’s report, VW Finance failed to engage with customers who were struggling to pay and sent them “templated communications”.<\/p>\n

Other drivers were charged the cost of taking their cars away and ignored by VW Finance when they tried to discuss repayment options.<\/p>\n

The FCA’s report was the result of speaking to case studies and analysing VW Finance’s processes.<\/p>\n

The report cites one man who told the company about his divorce, anxiety and attempts to take his own life, but was treated “sarcastically”.<\/p>\n

It also refers to a woman who lost her job and had her car taken away and sold at auction after falling behind on the payments, despite offering multiple times to find a repayment arrangement.<\/p>\n

After the car was repossessed, she was charged \u00a3252 for “sundry debit\u201d and an \u201cadjustment\u201d.<\/p>\n

“In actual fact, this was a repossession fee,” the FCA said.<\/p>\n

VW Finance is the UK-based finance arm of the wider German car group Volkswagen, which also owns car brands Audi, Skoda, Bentley, Porsche and serval others.<\/p>\n<\/div>\n


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Vulnerable people who owned cars through a loan scheme with Volkswagen’s finance arm had them taken away with “limited, if any” warning, a watchdog has ruled. One customer who was struggling to meet loan payments told Volkswagen Finance he was going through a difficult time and had tried to take his own life, but the […]<\/p>\n","protected":false},"author":2,"featured_media":158186,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/ichef.bbci.co.uk\/news\/1024\/branded_news\/27a2\/live\/a82a2a90-8fab-11ef-8b41-395f5b209e14.jpg","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[5529,29044,4246,7240],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/158185"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=158185"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/158185\/revisions"}],"predecessor-version":[{"id":158187,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/158185\/revisions\/158187"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/158186"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=158185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=158185"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=158185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}