I purchased a new car on a 3 year PCP deal in 2011 through Porsche Financial Services (PFS) and returned the car at the end of the agreement early 2014.

Yesterday I got a letter in the post from PFS apologising that they had not informed me during the monthly statements that I had a right to cancel the agreement at any time. Consequently, they are sending through a hefty check to refund all of the interest paid under the PCP agreement.

What law have they fallen foul of here? We also have a Toyota on a PCP agreement (and have had in the past) and I see no mention of voluntary termination on the paperwork for those statements either.. Is this PFS specific, or is this another PPI style situation brewing?