If you bought a car between 2006 and 2009 you can now recover more than 10% of the investment

Now you can claim and recover part of the investment you made if you bought a car between 2006 and 2009, since the courts have made it clear that those affected have the right to claim and receive compensation which, in most cases, is around 10% of the amount invested, a figure that can reach 9,000 euros, always depending on the purchase price of the vehicle.

Thomas Osborne
Thomas Osborne
01 March 2023 Wednesday 02:26
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If you bought a car between 2006 and 2009 you can now recover more than 10% of the investment

Now you can claim and recover part of the investment you made if you bought a car between 2006 and 2009, since the courts have made it clear that those affected have the right to claim and receive compensation which, in most cases, is around 10% of the amount invested, a figure that can reach 9,000 euros, always depending on the purchase price of the vehicle.

This case, rather turned into a scandal given the large number of people affected, came to light in 2015, when the CNMC (National Market and Competition Commission) ruled against a series of fraudulent activities in which they had been involved. a large part of the brands of car manufacturers in Spain.

These practices consisted of the exchange of commercial and strategic information to establish the market price of the vehicles, which created a kind of monopoly that undermined free competition and harmed consumers. Not all brands or dealers are involved in the plot, so before starting to process anything, we must find out if the dealer where we bought our car was part of it.

After several favorable judgments in the last months of 2022, the procedure has been simplified as there is jurisprudence in this regard. It is very important to have the necessary documentation to be able to claim it and take into account the limitation periods, since, if they are exceeded, it will no longer be possible to request compensation. And, as we always recommend, it is important to hire the services of professionals in the field who can advise and guide us during the process to prevent us from making mistakes in time or form that prevent us from being able to claim our compensation.

The three basic and essential documents to be able to initiate the claim are the vehicle purchase invoice, the purchase or leasing contract and the registration tax or model 576 from the Tax Agency. It does not matter that we no longer own the car for whatever reason, as long as it can be shown that it was bought at the time and with that additional cost imposed by the car cartel plot.

Once the claim process has started, it is important to present an expert opinion that shows that a price had to be paid for the car above its real value. This step is essential to be eligible for compensation and is one of the main tests on which the judge will rely when passing sentence, so it is vitally important to hire a professional in the field to take care of its wording, since winning the trial will depend on that and, if so, the compensation to be received.

Normally the term for this type of issue is one year, but the latest rulings in favor of those affected by this so-called car cartel have established a limitation period of 5 years from when the Supreme Court recognized the existence of the plot and issued the corresponding sentence that condemned those involved to pay a fine for it. This gives those affected much more room for maneuver to be able to claim the compensation that corresponds to them in each case.

But each case may have a different prescription date, since it depends on the manufacturer, so it must be consulted in a personalized way so as not to exceed the term and lose the option to claim.