Have You Financed a Car Since 2008?
Like the 50,000 clients we've assisted before, allow us to aid you in determining whether your PCP or HP finance was mis-sold through a complimentary, no-obligation assessment.
Verify compensation eligibility for all your vehicles.
Free, No-obligation assessment
Fast and straightforward process
"After years of feeling overcharged, I finally found clarity and relief through Claims. Their expertise turned my frustration into a substantial refund."
We offer a complimentary assessment of your past and current car finance agreements, with no obligation on your part. If your situation warrants compensation, we can connect you with one of our trusted affiliated law firms. Their fees typically range from 15%+VAT to 40%+VAT for successful claims.
It's worth noting that as a reputable claims management company, you retain the option to pursue your claim independently through the Courts or file a complaint directly with the lender. If you're unhappy with the outcome, you have the recourse to seek resolution through the Financial Ombudsman at no charge.
Our simple 3 step process
Why Can I Claim?
If you bought a car from a dealership, chances are they connected you with a finance company to facilitate the loan for the vehicle. We help determine if you're entitled to compensation if the dealership failed to disclose that they were receiving a commission for arranging your finance agreement with the provider.
This falls under a 'Section 140' claim. Both the dealership and finance provider were required to be transparent and inform you about any commissions being paid – including whether it was you who ultimately bore this commission through the applied interest rate.
What is Mis-sold Car Finance?
A recent probe by the Financial Conduct Authority (FCA) revealed extensive mis-selling across the spectrum of vehicle financing options. This investigation showed that upwards of 560,000 consumers were paying over 50% more for their car finance than necessary. Mis-selling was identified across a variety of vehicles including cars, vans, motorcycles, and motor homes/caravans, and spanned several financing arrangements such as Personal Contract Purchase (PCP), Hire Purchase (HP), Contract Hire, and car loans. Notably, PCP agreements, which feature lower monthly payments ending in a sizable final payment, were particularly popular but also often ended up being more costly due to high-interest charges.
The FCA uncovered a trend where brokers were allowed to set interest rates, often leading to inflated charges and higher commissions for dealerships. This practice led to consumers being overcharged by up to £1,100 per deal in some instances. This revelation prompted admissions from within the industry about unfair treatment of customers and excessive charging purely for profit. The investigation also revealed significant issues in how commission structures were communicated—or rather, not communicated—to customers, affecting major dealerships of brands like Audi, BMW, Mercedes, and Land Rover among others.
This situation has paved the way for consumers to seek financial redress for the mis-selling of car finance, potentially marking one of the largest compensation scandals of the decade. Millions of customers now have the opportunity to claim what they are rightfully owed. Transparency regarding commission payments is essential, as it influences customer decisions. If you've been affected by these practices, you're encouraged to investigate your eligibility for compensation. Start your free check with us today to discover what you might be owed.
Frequently Asked Questions
