Consumer Action Law Centre is warning Australians about the behaviour of car yard shonks following an ASIC action refunding $400,000 to a group of NSW car buyers who were forced to purchase warranties.
Australians sold junk insurance are demanding their money back as ASIC releases a damning report into the atrocious value and shocking sales practices at car yards. The ASIC “A market that is failing consumers: The sale of add-on insurance through car dealers” report says: – Over 3 years, the claims payout ratio was only 9 […]
“Working in travel insurance, Paul Quinn thought he knew insurance inside-out until recently, when he found out he had been sold a “junk” policy with his car loan.
AT LEAST $350 million of worthless car loan insurance has been sold to consumers — often without their knowledge — and there’s a push to get the money back.