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Car Finance Claim

What is a Car Finance(PCP) claim?

A PCP claim involves seeking compensation from a finance provider who sold you a car through a monthly payment plan. You might have been car finance claim in two main ways:

1. Unaffordability – If you struggle to keep up with your car finance payments, the dealer might not have conducted a proper affordability check. They should have asked various questions to determine if you could manage the payments.

2. Undisclosed Commission – The Financial Conduct Authority (FCA) recently discovered that car dealers could increase the interest on a finance agreement to earn higher commissions. If you weren't informed about the commission they would earn, you were likely car finance claim.

If you signed a PCP or HP agreement before January 2021, consult a solicitor to see if you’re eligible for a refund from the lender.


How much could I be owed?

This depends on the finance amount, the interest rate, the commission model, and affordability. The average claimant receives £5,318.25, but it could be as much as £10,000!

To find out, fill out our form or head over to our other website for mis-sold car finance which will be able to tell you if you have a claim in 60 seconds!

The exact amount you can claim depends on several factors:

-The loan size: the larger the loan, the higher the compensation.

-The quoted interest rate and the difference between it and the rate you should have received.

-Your actual affordability compared to what you were offered, especially if the dealer didn’t conduct a sufficient affordability check.

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Your claim might be worth: £4,000*

*This figure is based on the average of previous claims we’ve handled.

Get in touch today!

Car finance claim occurs when a lender or financial institution provides misleading information or fails to disclose important details regarding a car finance agreement. This may include inadequate explanations of interest rates, hidden fees, or the failure to consider the borrower's financial situation.

Don't worry! Whether your car's been fully paid off or you're still paying for it won't affect your eligibility.

Whether or not you paid it off or are still paying it - the mis-selling happened at the point of you taking the loan out and how much you repaid doesn't affect your eligibility for compensation.

You can start a PCP claim for any agreements within the last six years. However, if you've only recently become aware of the potential mis-selling, you're still eligible.

There is no guaranteed amount, however our partner law firm aim to get you up to the full amount of the finance agreement. The average claim is worth £6,000. You must legally receive minimum of 51% of the winnings but it is normally more.

Don't worry, you are still able to start a claim with us as we are able to request your finance agreements from the dealership and/or the finance provider.

You can make one claim, per finance agreement, so if for example you took four cars out on finance, then you could be eligible for four claims.

We offer a free assessment service, you will then be referred to our partner solicitors, who will explain why they're the best fit for your case and their percentage fee for a successful outcome. Our legal partners provide a risk-free service, with the only potential charges being if you cancel within 14 days before the case ends. If you stay with them until the case ends, even if the case is unsuccessful you will not be charged.

Fees are clear and inline with SRA guidelines. The fee structure can be found here:
https://www.lawgazette.co.uk/sra-to-cap-fees-on-financial-services-claims/5118747.article

Alternatively, you can use your own legal representation for court claims or directly complain to the lender, utilizing the Financial Ombudsman if dissatisfied,at no cost.