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Financial Fairness For All
Mis-Sold Car Finance
If you financed a vehicle between 2007 and 2021 you may be eligible for a refund worth thousands.
Do you think you were mis-sold on your PCP or HP finance agreement? Recent rulings by the Financial Ombudsman mean motorists may be able to make a PCP claim for unfair sales commission and unfair interest rates.
Regulatory Intervention
Steps Taken By The FCA
FCA Begins Preliminary Investigation
The FCA acts on concerns surrounding transparency, conflicts of interest and irresponsible lending
2017
FCA Bans Discretionary Commissions
Undisclosed scaled commissions are banned due to concerns around consumer fairness and potential mis-selling.
2021
Full Investigation Announced
The FCA announces an industry wide investigation into historic mis-selling and a pause on complaint handling.
Q1 2024
FCA Extends Investigation
The FCA announces an eight month extension for its investigation into widespread mis-selling.
Q3 2024
FCA Due to Publish Findings
The pause on complaint handling and the announcement of the FCA's findings is scheduled for May 2025.
2025
Do you think you've been mis-sold?
We offer a free check for all UK consumers to identify any agreements that contain discretionary commissions.
Frequently Asked Questions
Can I claim for free?
For PCP mis-selling claims you do not need to use a law firm or a claims management company to make your complaint to your provider, you may be able do this yourself for free. If your complaint is not successful you can refer it to the Financial Ombudsman Service yourself for free. You must lodge a complaint to the lender first before it can escalate to the Financial Ombudsman Service.
There are however many benefits of choosing us to handle your claim. We will manage all communication with your lender, working closely with them to ensure that you receive a fair level of compensation. If your lender encounters any difficulties in locating your details, we will assist them to enable your claim to proceed. After you register with us, you can simply sit back and relax while we handle everything, keeping you updated via email throughout the process.
What are my rights?
Firstly, your rights are safeguarded by consumer protection laws. If you were misled about the financial terms or conditions of your car finance agreement, you might have a valid basis for a claim. Legally, you are entitled to complete and accurate information about your contract's terms.
Millions of people have been misled and might be due compensation. This is because consumers have paid undisclosed commissions and been charged unfair interest rates.
Can I claim for multiple cars?
Absolutely, you can submit claims for more than one car if you were misled in multiple PCP or HP agreements. However, keep in mind that the rules and processes may differ for each vehicle, depending on the details of the agreements and any legal precedents concerning those misrepresentations.
Do I have to pay anything?
We handle your case on a No Win, No Fee basis. We will only be compensated if the claim is successful. This aligns our interests with yours, demonstrating our confidence in our ability to secure a positive result.
In the event of a favourable result, our billing structure entails a nominal deduction from your compensation. To find out more about our charges please read our "No Win No Fee" policy.
How much will I get?
The most straightforward answer is that it varies. The compensation you could receive depends on several factors, including the amount you paid, the specifics of the contract, the lender involved, and the interest rate charged.
One of the earliest successful claims involved a borrower who financed 100% of the car, paying an interest rate of 5.5%. Over the course of the five-year agreement, the borrower paid a total of £2,095 in interest. It was later revealed that the financing bank was offering similar loans at a significantly lower rate of 2.49%. As a result, the bank was instructed to refund the borrower £1,147 for the excess interest charged.[1]
When will I be paid?
The Financial Conduct Authority (FCA) is currently conducting a thorough investigation into PCP and HP contracts. This involves placing a pause on the 8-week deadline that finance providers have to respond to complaints that involved discretionary commission arrangements. Whilst consumers can still complain to their finance provider, the provider will not have to respond to their complaint until June 2025, at the earliest.
Following this, any eligible claims will likely be processed within three to six months. It is advisable to initiate your claim as soon as possible. Compensation will be paid in the order in which claims are received. By registering early, you will benefit from priority in the queue, which is especially important given the likely backlog lenders will face. If you would like to know more, please refer to the FCA's website.
What is DCA?
DCA or also Scaled models is where the lender would set a minimum APR or fixed interest rate then the dealer or broker could increase that percentage which would increase in most cases the amount of commission they earned, these practices where banned from January 2021, this means millions of people across the UK could have overpaid substantially on car finance agreements between 2007-and January 2021. Start your check today and see if you were affected.
My lender is not listed can you still help?
Not all lenders offered either a DCA or scaled commission models and not all finance agreements where affected, please message our team with the name of the lender and we will let you know if you could be affected.