General: car buying: section 75- anyone in knowledge?

[ThomasG]

Hi all.
As I mentioned few times, I'm building a plan re upgrading to newer Volvo..

In few threads here I've seen a mention of "section 75".
As I gather, its some kind of buyers protection offered by credit card companies?

Could someone please shed some knowledge?
If possible- in layman's terms..

Many thanks.

[volvoid]

Consumer Credit Act
theres more than 1 useful section
In a nutshell, the credit card company is liable to refund the entire cost of something if a refund is necessary. Over £100.
The card cos will go on about insurance, but thats their problem not yours.
it doesnt mean that you get a full refund just because theres something that you arent happy with

I hope someone is along with a deeper knowledge than mine

[andrewpain]

Originally Posted by ThomasG

Hi all.
As I mentioned few times, I'm building a plan re upgrading to newer Volvo..

In few threads here I've seen a mention of "section 75".
As I gather, its some kind of buyers protection offered by credit card companies?

Could someone please shed some knowledge?
If possible- in layman's terms..

Many thanks.

Section 75 protection means that if you have a dispute with a retailer over goods which are faulty, and they won't fix; don't arrive, and they refuse to supply replacement;go broke before delivery (happened to me with furniture); or anything else where the supplier is failing to fulfil their legal obligations, then the credit card company is jointly liable, and has to provide a refund/chargeback to you, and recover what they can from the retailer.
So if you buy a car on your card, and there's an issue that the dealer should rectify but won't, then you can apply to the card company for a refund.
Would be worth talking to your card company about this as there could well be points I've missed.
My issue was complicated by the card company (john lewis card services) Sect 75 team being swamped with Monarch Airlines claims. Had to complain to Lewis's MD to get attention.....

[4x4]

An interesting 'Confidential' PDF from the NMDA explains it in layman's terms

Click

[ThomasG]

Exactly what I was hoping for
I reordered my credit card (haven't used it once in last few years so they've stopped sending me replacements)..
With protection plan established, I can focus on fundraising
So... PMC Wafer1-IW, first pair.. Auction shall start.. Sometime next week.. Not in a hurry..

PS: am I right thinking that :
A) all I have to pay by credit card is as little as £10 and I'll be covered for whole value of car
B) I can pay off that £10 almost immediately, and I'm still protected?

[ThomasG]

Originally Posted by 4x4

An interesting 'Confidential' PDF from the NMDA explains it in layman's terms

Click

Wow!
A good one!

[kenny]

It is a must if you are buying anything over £100 to pay at least £100 on your credit card. Simply makes them equally responsible and liable for the item.
I have returned two cars to Evans Halshaw for full refunds after quoting section 75 to the credit card company.

[frogdare]

There is also an upper limit of £35,000 for Section 75 protection.

[volvoid]

Read the whole thing here
https://www.legislation.gov.uk/ukpga/1974/39/contents
or just a few bits

like this one, its not as complicated as it may at first appear
https://www.legislation.gov.uk/ukpga/1974/39/section/75