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Paul Hackett

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Review of the Car Cash Point, Logbook Loan:

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Great company

Great service, cheaper than the rest Reviewed on: 30th June 2017

Review of the Varooma, Logbook Loan:

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AVOID AVOID AVOID !!!!!!!!!

I now know why they hassle you to write your review 1 day after taking out the loan, as obviously you will be happy with them at that point, but my god will that change. I seriously don't know how these guys can trade let alone be a member of the CCTA & FCA I fell into financial difficulty after taking out a £5k loan paying back £500 per month for 24 months, I took out my loan in January 2015 and have literally just had to sell my £11k BMW for £7k so they wouldn't repossess my car. They charged me over £3.5k in charges (not interest I’m talking about just charges) for according to them, SMS Charges @ £1.5 per text, one month they sent me 30 apparently, Outbound call charges £5 per time, Late payment charges £15, Default Notice Charges £15, Default notice reminder charge £15, Final Demand charge £15, Demand for payment notice charge £15, Recovery handling fee £75, Recover agent fee £475 (I SPOKE TO THE REPO AGENT AND HE SAID THEY DONT GET PAID UNTIL THE CAR IS REPOSSESED). They contacted me to say the car was out for repossession and I tried to negotiate a payment plan, however they weren't interested, they wouldn't hold the repossession and demanded I paid over £3k in arrears that day or someone would come to my work and take the car. I was 1 month behind 1 month!!! I eventually sold my car @ a £4k loss just to pay these. In total I borrowed £5000, I was 8 months into my loan and had paid back £3481.92 which was £518.08 shortfall (1 month basically) and they forced me to pay back another £6857.13 even though I was settling my loan 15 months early. In total I paid them £10338.92 for a £5k loan and only had it 8 months, that's £5338.92 profit in their back pocket. They target the venerable and nearly all the way through my loan except at the end they constantly emailed me offering further advances. I have an open case with the financial ombudsman Reviewed on: 30th June 2017

Review of the Car Cash Point, Logbook Loan:

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Great Company

Fast payout, honest and cheaper than everywhere else Reviewed on: 30th June 2017

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