Is there PPI on PCP

RenSmart

Hi there.... would anyone know whether Mercedes added PPI to their PCP agreement at all? I bought a Smart Car and have the paperwork but it is not clear to me. The contract was with Capital Bank Plc. Perhaps someone has already checked?

I also was unaware that I was hiring the car. When I thought I had finished paying it off they told me I had to make a lump sum payment in order to keep it which I did. I ended up paying something like £17k for a smart car. It was a hard lesson to learn from. I am interested to see if they owe me any refunds.

Nearlyold

Mercedes would only add/have added PPI to the loan if the dealer who sold you the car also sold you PPI. The dealer could equally well have sold you a separate stand alone regular premium PPI through an insurer such as Cardiff Pinnacle which would not appear on the finance agreement anyway.

How long ago did you buy the car?

Its difficult to believe you could have taken out a PCP without knowing that you had to pay a lump sum at the end of the agreement to keep the car. All the promotional literature from adverts to sales leaflets to posters in the dealership and the finance agreement itself make this crystal clear.