PPI! Look at this please. Do I have it?!

[bibi24]

Hi, I'm new! Hope someone comes back to me.

Last week I sent 18 letters to 18 different credit card companies, banks, car finance people as I think I may have PPI that I've never noticed before.

I've now had 2 responses in so far from BMW and I've attached these. The finance for both these cars just doesn't seem to stack up to me and I wondered if I'd had PPI sneakily added. Is anyone clever enough to understand whether I've got PPI on either of these agreements? I'd be so grateful. I don't really know what I'm looking for to be honest. I've never been very good with all of this money/finance thing! Please help and be kind please!:tinysmile_hmm_t2:

[seduraed]

Re: PPI! Look at this please. Do I have it?!

nope no cover

[bibi24]

Re: PPI! Look at this please. Do I have it?!

Really? but the figures don't seem to stack up, especially with the £23k one?

[Sapphire]

Re: PPI! Look at this please. Do I have it?!

Can someone (maths minded) have a look at this guys agreement please, he seems to think that the HP figures don't add up properly.

Thanks in advance

[Sapphire]

Re: PPI! Look at this please. Do I have it?!

Bibi are there any others you want us to look at for you ? Might as well stick them all up if you're unsure.

[Bill-K]

Re: PPI! Look at this please. Do I have it?!

Hi Bibi. I'm afraid I have to concur with Sed.
Taking the first example,
Purchase price is £23000
Deposit paid is £3000
Balance due is £20000 (ie. 23000 - 3000)
Total charge for credit is £5188.58
Total Amount Payable under the loan agreement is £25188.58 (ie. 20000 + 5188.58)

The total of all the repayments and charges listed comes to £25188.58, which tallies with the TAP above.

The only thing I think that is wrong is that at the top of the agreement, the Total Amount Payable is entered as £28188.58, as they appear to have added the £3000 deposit to the TAP. The £28188.58 is actually the total cost of the vehicle, and NOT the Total Amount Payable under the loan agreement.

It is possible that this might have been enough to invalidate the agreement, but might have been considered 'de minimis,' and not enough for that. Either way, it would really have probably just needed them to re-draft the agreement, so I doubt if you would have gained anything apart from a month's 'payment holiday.

The second agreement stacks up in exactly the same way.

[bibi24]

Re: PPI! Look at this please. Do I have it?!

Hi Sapphy

thanks for asking maths minded people to take a look. I will have lots more to come and as soon as I've collated all my agreements I will post on this site for advice. Thanks again for encouraging others to take a look at my 2 BMW agreements above. x

[Bill-K]

Re: PPI! Look at this please. Do I have it?!

Thanks again for encouraging others to take a look at my 2 BMW agreements above. x

Encouraged ? !!! I was dragged here by my ear'ole !!!
Seriously, Bibi, post up any other dodgy-looking agreements, and we'll be glad to take a look. I'm sure we'll find some PPI in there eventually !!!

[bibi24]

Re: PPI! Look at this please. Do I have it?!

Hope your ears are ok now! Soon as I get my agreements in order I will post them. Thanks again for your help!

[Inca]

Re: PPI! Look at this please. Do I have it?!

Encouraged ? !!! I was dragged here by my ear'ole !!!
Seriously, Bibi, post up any other dodgy-looking agreements, and we'll be glad to take a look. I'm sure we'll find some PPI in there eventually !!!

Now now,Bill,,the girls use 'gentle persuasion',

[bibi24]

Re: PPI! Look at this please. Do I have it?!

good morning everyone!
thanks again Bill K (Alsaition) for your response re PPI. Could there be any hidden PPI in the BMWs?

I just wondered.

Anyway, I wrote to Nationwide a week ago and provided them with 2 account numbers for mortgage products (a secured loan and a mortgage I had a number of years ago). I asked them for a copy of the credit agreement for the 2 accounts. They've written to me saying the 2 accounts are not regulated by the Consumer Credit Act 1974 and returned my 2 x £1 cheques. What does this mean? Can I ask for more information in the form of a SAR? Will a SAR be able to tell me if I've got PPI?

Any help you can give GREATLY appreciated!

Have a good weekend all of you! Happy Beagling.

[Bill-K]

Re: PPI! Look at this please. Do I have it?!

Hi Bibi. Although we often refer to ourselves collectively as Beagles, we're all allocated a particular breed, depending on how much of a nuisance we have been over the years (it's actually the number of posts we've made, I believe !) So, newbies are Beagle Puppies, and old gits like me are Alsatians, etc., etc.

With those two BMW's, all the money paid is accounted for. I doubt very much that the PPI is hidden in the credit charges. However, in some cases, the lender may sell PPI (or other insurance) as a separate 'stand alone' item. This would then be paid entirely separately - either as an 'upfront' lump sum, or a monthly charge. You would need to check for this in your own records. You can send a Data Subject Access Request (DSAR) to request a copy of all data they have on you, but this will cost £10 for each main lender, so it can be a bit of a gamble, as you MAY find evidence or proof of PPI.

Mortgages and secured loans are generally not covered by the CCA, so they were correct to return your CCA requests & cheques. A DSAR might be the best thing for these. Again, though, check if there might have been separate insurance for these - this is quite common with mortgages and secured loans.