We have found that the majority of people we speak to are not aware they were mis sold their car finance until our experts checked their finance agreements.
You could be owed £1000’s in compensation - We’ll check all of your finance agreements within the past 10 years
Mis-Sold car finance is estimated to be costing consumers £300m Annually *Source FCA
The FCA estimates that a typical mis-sold motor finance agreement of £10,000 can result in the customer paying around £1,100 more in interest charges
We have found that the majority of people we speak to are not aware they were mis sold their car finance until our experts checked their finance agreements.
You could be owed £1000’s in compensation - We’ll check all of your finance agreements within the past 10 years
Mis-Sold car finance is estimated to be costing consumers £300m Annually *Source FCA
The FCA estimates that a typical mis-sold motor finance agreement of £10,000 can result in the customer paying around £1,100 more in interest charges
Possible ways below as to how you were mis-sold Car Finance
We work on a No Win, No Fee Basis
It was up to the brokers/dealers to set the interest rate. A higher interest rate increased their commissions.
Dealers/Brokers had a legal obligation to disclose their commissions earned on sales of financing in a clear and concise manner
Dealerships and brokers often coerced clients into signing agreements that were most financially attractive for them rather than giving them a clear choice
Often clients were not informed of the options available to them, and they were swayed to purchase the product most beneficial to the dealer/broker
We work on a No Win, No Fee Basis
1. Online application
Fill out our online form to see if you were missold CarFinance
2. Making a claim
As soon as we confirm you have a claim, we will submit it to your lender
3. Review of your claim
Our experts will determine if you have a claim
4. The payment of compensation
As quickly as possible, we aim to pay compensation to our clients
Purchase Price £10,000, Deposit amount £1,000
Loan term 60 months, APR% 9.9
We’ll check all your agreements in the last 10 years. Even if you can’t locate all your agreements we can still help!
No win, no fee arrangements eliminate the risk of making a claim as you are not charged if your case is lost.
The solicitor may need to take out legal protection insurance on your behalf, which will cover the costs if the claim fails and ensure that the claim is risk-free. Those costs will only be incurred if you win. No upfront fees or hidden charges will ever be charged, so you'll never be out of pocket.
The way lenders remunerate their brokers/dealers is causing customers to pay significantly more for their motor finance
These incentives significantly affect the costs of motor finance for consumers
We are concerned about the disclosure of commissions
The FCA mystery shopped 90% of retailers and only 11 told their customers the dealership might receive commission for arranging the deal.
Over the past 10 years, if you have taken out car finance and been charged more than 3.5% interest, you may have been mis-sold.
Since interest rates were set by the dealer/broker, the higher the interest rate charged, the more commission the dealer/broker received. Clients were also not informed about the commission incentive they were receiving.
The amount of compensation depends on the interest rate, loan amount and length of time you paid the loan. Feel free to contact us for a free no-obligation consultation, one of our claim handlers can explain everything in more detail.
The FCA was concerned in 2019 about the way commission arrangements were being handled in motor finance, which was harming customers to a significant extent.
Some of our claims will settle in a couple of months while others may take over a year. Submitting your claim as soon as possible will give you the best chance of settling your claim.
PCP Finance reclaim acts as an introducer for potential clients/customers to UK legal professionals or claims management companies who are authorised and regulated by the Financial Conduct Authority. PCP Financere claims relationship with it’s partnered claims management companies is limited to that of a business partnership with no common ownership or control rights exist between us. We may receive payment from our partner once a compensation claim is successfully paid out to you. Please note, we will not charge you for our service.
PCP Finance reclaim acts as an introducer for potential clients/customers to UK legal professionals or claims management companies who are authorised and regulated by the Financial Conduct Authority. PCP Financere claims relationship with it’s partnered claims management companies is limited to that of a business partnership with no common ownership or control rights exist between us. We may receive payment from our partner once a compensation claim is successfully paid out to you. Please note, we will not charge you for our service.
