In Debted... - The AA - oldroverboy.

www.telegraph.co.uk/finance/newsbysector/retailand...l

How on earth can they lose so much money when they are probably the most expensive breakdown organisation?

In Debted... - The AA - Trilogy

They lost me this year. No appreciation of loyal customers. I'd been a member for eight years without a call out. Then when I misfuelled they wanted £225 and kept me waiting 3 hours.

In Debted... - The AA - Wackyracer

I cancelled my membership with them in 2007 as I was paying much more than the rates for new customers despite being with them for almost 3 decades. Their free home start is not as free as it implies, as soon as I questioned the price I was told it was because I had homestart. That was not something I had originally asked for and was added on by them as a 'free gift'.

It is the same with any service these days, New customers or customers asking to leave are usually given better prices.

In Debted... - The AA - Bromptonaut

www.telegraph.co.uk/finance/newsbysector/retailand...l

How on earth can they lose so much money when they are probably the most expensive breakdown organisation?

The answer is in the article. They aquired a mountain of debt while in ownership of private equity. I don't pretend to understand the mechanism but it's a common one.

However good their operating profit is servicing that debt mountain costs more.

In Debted... - The AA - Gibbo_Wirral

I know several people who've stopped using them because of bad advice given when broken down. They rely heavily on their code readers and just pick the most common issue relating to that fault code.

They've told two of my customers that their cars needed new HP fuel pumps because of the low pressure P code reported.

Its a well known issue in the Pug community that the issue is usually down to a clogged filter on the tank pump, and it usually appears on cars over ten years old or has done over 150,000 miles (the "life" expectancy of the car).

A clean of the tank pump or a tank pump replacement was cheaper than the hundreds of pounds for a new High Pressure pump.

In Debted... - The AA - Ethan Edwards

As I understand it. You want to take over a company. So you borrow a shedload. Then buy the company. Once they are part of your group you transfer the debt to the new company. So you've effectively just bought them with nearly all of their own money.

Then you asset strip them make everyone redundent and sail off into the sunset with your newly gotten gains. All of the consultants trouser lots of comissions and start looking for the next target.

Thats pretty much the Glaser/ Man Utd model isn't it?

Or something like that.

High Finance seems to have a special morality all of it's very own. Speaking as a wage slave that is...purely my perspective you understand.

In Debted... - The AA - Brit_in_Germany

An alternative route is for the private equity owners to pay themselves a special dividiend financed through borrowing before they float the remains on the stock exchange, trousering a further payment.

In Debted... - The AA - daveyK_UK

Like many people, I left the AA after getting a ridiculous renewal quote.

In Debted... - The AA - Galaxy

Like many people, I left the AA after getting a ridiculous renewal quote.

I challenge their charges at every renewal.

I will NEVER pay anything like the original amount that they have the cheek to ask for!

In Debted... - The AA - Hamsafar

Annoying for me..

I was with the AA in 2013.


RAC in 2015 but renewal was more so cancelled.


Went back to AA in 2015 for £39.


Received letter shortly after from AA saying come back to us for £39 and get a free £20 boots voucher.


Wish I had waited another week - maybe best to flip every year at renewal and renew at the last minute or even late.

In Debted... - The AA - galileo

Many years ago I was with the AA, long wait for an agent, useless when he arrived on the one time I needed them.

Changed to RAC, called them once, OK service but had waited 90 minutes for a patrol to reach me.

Changed to Britannia, over the years I and SWMBO called them about 4 times, never had to wait more than 20 minutes, whether out in the sticks, town centre or motorway, always solved the problem or recovered to our destination/home.

Not had to use them for years (touch wood!) as we've had newer, more reliable cars, but friends tell me they are still good.

In Debted... - The AA - Bromptonaut

Not had to use them for years (touch wood!) as we've had newer, more reliable cars, but friends tell me they are still good.

They're generally good but kept me waiting 90mins when car's clutch failed on Tuesday. Urban road, mid afternoon on a quiet weekday.

Used to be three or four companies working for them round here. Constant squeeze on call out rates has reduced that to one - part of a regional/national chain. Aside from loss of flexibility it's much harder to keep a contractor in order if he's got little or no competition.

In Debted... - The AA - craig-pd130

As I understand it. You want to take over a company. So you borrow a shedload. Then buy the company. Once they are part of your group you transfer the debt to the new company. So you've effectively just bought them with nearly all of their own money.

Then you asset strip them make everyone redundent and sail off into the sunset with your newly gotten gains. All of the consultants trouser lots of comissions and start looking for the next target.

Thats pretty much the Glaser/ Man Utd model isn't it?

That's pretty much it. The debt is attached to the 'asset', not the group that bought the company.

It's like buying a house with a mortgage, the debt is secured on the property. Then you want to build an extension, so you add onto the mortgage, and then want to re-roof it, so you add on to the mortgage ... and so on.