Letter to Santander, Mis Sold PCP Fixed Sum Loan Agreement

[Picard91]

Hi all,

I have been reading many cases against Santander and mis sold PCP Agreement been underwritten by a Fixed Sum Loan agreement.
One thing this has taught me is to read before you sign.

My story, I got my first volvo in 2014 on what I thought was a PCP over 48 months (which I mentioned in the attached letter), the agreement does say fixed loan but also then says PCP so it is very confusing.
I was told by the Salesman it was a PCP with the balloon payment option at the end.

Carry on 2 years, I get offered a new car on the same deal, I am doing 18k miles a year spending most of the work time in my car so I decided to go ahead.
Again the dealer mentioned to me, PCP with a balloon payment at the end..

3 Years later (today), I had a new Job opportunity come up 2 years ago, I spend 8-10 months out of the country and the car has hardly been used.
I looked into VT and find out all about this fixed sum loan agreement which doesn't seem to be mentioned to the consumer at the time of purchase.

I have prepared the attached .pdf and would love to get opinions and any recommendations for changes before I send it off.
Do you think I have a case?

Thank you in advance.

[Picard91]

Anyone?

[Amethyst]

Could you post a copy of the credit agreement ? (only seems to be a sales agency agreement in the PDF )

[Corbyleek]

I am currently in the same situation. please let me know how you get on as I am only just at the start of the process.

[Picard91]

Anyone?

I don't have access to a scanner right at the moment however the Credit Agreement does say Fixed Sum Loan Agreement.

Now I realize what it is, but at the time they told me it was a PCP even pointing to the top of the sales agency agreement which says PCP.

I hope I have a case.

[Maz2019]

I’m in the same position and have just started a complaint with Santander. We were sold it as a PCP only to find out recently it’s a personal loan. Looking around it seems this happens a lot!

[Picard91]

The more I research online the more it happens.

I received a letter today from Santander saying they will not uphold it as a PCP and I have no right to VT.

Just drafting a letter to the Ombudsman. Will search the forums for some help as well. If anyone reading this could help it would VERY much be appreciated. Maybe even with a virtual Beer!