What is a car finance claim?
Personal Contract Purchase (PCP) is chosen for 90% of car leases. It lets you drive away with no upfront payment, spreading the costs into monthly installments. Ownership is flexible, with a final payment option.
About
Personal Contract Purchase (PCP) is chosen for 90% of car leases. It lets you drive away with no upfront payment, spreading the costs into monthly installments. Ownership is flexible, with a final payment option.
Car finance was mis-sold when sellers raised interest rates creating a conflict of interest as sellers acted as both dealers and brokers. The more they charged, the more they made, without clear disclosure.
Mis-selling isn't the only reason for a claim. We see cases where lenders skipped affordability checks, making loans unaffordable. If your finance deal wasn't affordable from the start, you may be eligible for a refund.
Fast track
Fast track
Fast track
Fast track
Fast track
Fast track
Fast track
When you make a claim with us, we'll check to see if you qualify for our fast-track claims process. No calls, no emails, just straightforward resolution.
Examples
In 2018, a mystery shopper investigation conducted by the FCA, revealed that only 11 out of 122 car dealerships accurately disclosed the commissions they had earned from their clients.
Car dealerships used to establish the interest rates. The higher the rate, the greater the commission. In January 2020, the FCA prohibited this practice due to its evident conflict of interest.
The FCA found that 70% of dealerships couldn't fully explain their terms of service, causing significant customer confusion about costs. This instance of non-compliance was widespread.
FAQ's
See our list of frequently asked questions