Car finance reclaim

Cas30

Hi all, I purchased a car on finance in 2015 and have completed the car finance reclaim form and sent it to the finance company (Mercedes Benz) I have had a response from them saying 

“Good Afternoon,

We don’t currently hold an email address for your agreement on our system, so we’re not able to help with your request due to data protection”

has anyone else had a response like this, or know how to progress this claim? 

Much appreciated. 

Nasqueron

Send them some proof of ID to show you are the person who took out the finance

Hugobossdog

I will be the same as sent it on husbands behalf. When did you send original e-mail? 

dunstonh

If you just gave them the email address then that is not a lot to identify you by.  Especially with older agreements where things like that have been deleted or if you have used a different email address.  

You need to provide them with sufficient information to identify you.

Billster24

Hi, I had the same problem with Mercedes Benz, I sent them a pic of my driving license as ID but they still wouldn’t accept this. I’ve got to contact them and go through security questions to then update my email address on their system. Have you had to do this aswell? 

Pops108

I've just had this as well.  Everything was done in the dealership with paper copies as back in 2013 and I no longer have the email address I had back then.  

sparky456

Hi,   I read the item details on car finance mis-selling and I have used the template. I have done so even though I bought my car in October 2021 which is after your date.

I looked at my agreement and it says I have  to  pay a large amount on my last payment in September this year. Is this classed as an inflated balloon

The company has replied to me and said they are looking into it for me.

Do you think I could be included  in the campaign.

Nearlyold

That sounds like a perfectly normal PCP "Personal Contract Purchase" to give its full name. The lump sum due in September is simply the balance due if you want to take ownership of the vehicle. Alternatively you can hand the vehicle back with nothing more to pay (provided you haven't exceeded the mileage allowance)

How much was the vehicle, what is the interest rate,  what is your monthly payment, how many payments have you made and how much have you paid so far if you include any deposit/trade in?
If your purchase did not involve a DCA- which it shouldn't have as it was post the early 2021 ban then it would seem unlikely that you could  succesfully complain that you have a DCA if you don't 

DullGreyGuy

sparky456 said:

Hi,   I read the item details on car finance mis-selling and I have used the template. I have done so even though I bought my car in October 2021 which is after your date.

I looked at my agreement and it says I have  to  pay a large amount on my last payment in September this year. Is this classed as an inflated balloon

The company has replied to me and said they are looking into it for me.

Do you think I could be included  in the campaign.

It won't be, you bought after DCA was banned

This is how PCP works, you pay monthly instalments to get the debt down to a balloon payment based on the estimated value at the end of the loan. At the end you get the choice, you pay the balloon and the car is yours or you give the car back and avoid paying the balloon. 

The advantage of this is your repayments are less because you are not paying off all the cars value with the regular payments but you will pay more overall if you decide to keep the car at the end. 

No legal issue with PCP, in principle if you want to switch your car every few years it can be a lower cost of ownership without the risk of what the car is worth in 3 years time. Obviously switching car every few years is not an economical idea but were you to do it and dont have the cash to do it with then PCP is a reasonable option.

Desmond_Hume

Good to see people are fully understanding agreements they’re entering into…

DullGreyGuy

Desmond_Hume said:

Good to see people are fully understanding agreements they’re entering into…

And the letters of complaint full of legalese mean