If you have taken out a PCP Car Finance from 2007-2019, then you may be able to claim up to £3,231.7 in compensation*
Have you purchased a new or used car on finance in the last 10 years? If you took out a PCP car finance agreement between 2007 and 2019, you may be entitled to claim £1,000s in compensation. Check for hidden commissions with our free online agreement check.
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Have you bought a new car on a Personal Contract Plan (PCP) from a dealership? If so, you could have been mis-sold your car loan.
Car owners who purchased their car using this type of finance deal from a dealership are being warned they might have fallen victim to a new type of mis-selling scandal. This relates to car finance known as Personal Contract Plans (PCP) and thousands of people could be affected by this as it is one of the most popular ways to finance a new car. The National Association of Commercial Finance Brokers (NACFB) says that the complex nature of PCPs is being exploited by dealers to convince drivers they are getting a better deal, or that the PCP deal on offer is a more economical alternative to traditional hire-purchase (HP) arrangements. A PCP is a bit like a personal loan that typically runs for between two and four years. But the size of the loan is equal to the expected amount of depreciation in the car over the length of the deal.
You could be eligible to put in a claim if you weren’t provided with all of the required information when taking out a car finance deal. You may be able to get back £1000’s if you were overcharged or mis-sold by the dealer.
You could have been mis-sold for a number of reasons. There could have been commission for the dealer that you weren’t told about, you could have been pressured into an agreement that wasn’t right for you, or you may have paid higher interest than necessary. You can fill out a short form to check if you’re eligible and start a claim.
You do not have to pay anything upfront. During this claim, you are covered under a no win, no fee agreement, meaning if your claim is not successful you do not pay a penny. If the claim is successful and you receive compensation, the solicitors will charge you 25% fee of the compensation they recover on your behalf.
You could claim back thousands if you were mis-sold. The amount you can claim will depend on a number of factors, for example the extra interest you paid and the amount of commission received by the dealer. Average claims can be over £1,000.
Our services operate on a strict NO WIN, NO FEE* policy, ensuring that you face no financial risk. You can have peace of mind knowing that we will exert utmost effort to assist you in obtaining the compensation you rightfully deserve for your injuries. Our team of seasoned lawyers and legal experts will provide comprehensive guidance throughout the entire process, from initiation to completion.
You’ll usually need to submit a claim online and provide further information about the agreements. Claims companies will then work with a legal partner who will process the claim and you’ll get a decision confirming the amount you will receive in compensation.
You’ll need details of the finance agreements you’ve had, along with details of the sales process - for example, if you were informed of the commission that would be paid to the dealer. You’ll then just need to provide your contact details to start the claims process. Alternatively, you can also write a letter to claim compensation yourself without the need to get a claims company involved.