Suddenly, almost all private car loans are inadmissible: Numerous customers can now cancel their car contract, some of which is old for years, return their car and reclaim all loan installments paid. Are you also affected? Find out today: We'll review your contract.
Money back: Your benefits of rescission
If you cancel your illegal contract, you will no longer have to make any further payments to the bank. You will also receive back all installments you have paid, including a down payment.
verdict
The European Court of Justice (ECJ) announced on 09.09.2021 in a verdictwhat information credit agreements must contain, among other things. According to this decision, almost every car financing contract is likely to be faulty.
background
The starting point for this was cases brought by the Ravensburg Regional Court: The VW, Skoda and BMW Bank car loan agreements were revoked for which the period had already expired. Consumers justified this by the fact that important information was missing from the contracts.
Requirements for withdrawal
In addition to a faulty credit agreement, you must have concluded it as a consumer. The loan must not yet be paid off at this stage. In addition, this does not have to be a Loan secured by real estate act.
Mandatory information that motor vehicle credit agreements must contain, among other things
- clear statement that these are related loans that are fixed-term
- Specific amount of interest on arrears
- An easy-to-understand description of how default interest is calculated and adjusted
- List of which extrajudicial legal action proceedings may be available to customers at what costs
If even one of this information is missing, the bank can neither rely on the fact that the withdrawal period has expired nor that the right of withdrawal has been misused.
This is your chance: Get your money back! We're happy to help.
