Financial Claims Helpline

CLAIM COMPENSATION FOR
​MISSOLD CAR FINANCE

If you currently pay or used to pay for car finance within the last ten years, then you may be eligible for compensation. Many of these finance deals were missold. The dealerships deliberately signed you up to the most expensive finance agreement instead of the most suitable. This is misselling and as such you will be due compensation as a result.

How to Claim Compensation For Missold Car Finance

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Have you had car finance over the last ten years​​

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Understand why there has been mis-selling​

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Check if you are eligible to claim​​

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Use the PCC  Claims Calculator to work out how much your claim could be worth​

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Complete our online claim form to start your claim​

What is Car Finance

A Personal Contract Purchase (PCP) is a way to pay for a car. It’s like long-term rental, allowing you to use the car until the contract ends. At the end of the contract, you can: 

  • return the car
  • pay the resale value and keep it
  • use the resale value towards buying a new car


Most car financing is done on a PCP basis so if you have bought a car on finance, it was most likely done using PCP and you will have a claim.

Dealerships and brokers have been found to have consistently mis-sold this types of financing

Why Was There Misselling

It is all to do with secret / hidden commission. This is where the car dealer sells you a finance package for the car but does not tell you that they are getting a commission or just how large the commission they are getting is. Most customers expect the salesperson or dealership to make their money on the sale of the car, but they do not realise that they also be getting a commission from the finance company.

Because of the high risk of there being a conflict of interest between the customer and the car dealer (the dealer recommending finance products based on the amount of commission as opposed to what is best for their customer), and to ensure full transparency for their protection, the exact amount of this commission should be disclosed to the customer.

If the payment of commission and the amount of that commission has not been explained, then the customer can claim compensation for mis-sold PCP car finance.

Am I  Eligible To Make a Claim

The answer is yes. When you took out the agreement the dealership failed to perform a number of action and in most cases actively tried to hide the true value of the commission that you should have been paying.  Generally the agent placed you on the highest commission that they though they could get away with instead of the rate that you should have been on. By doing this they earned themselves a bigger bonus at the end of the month and a larger profit for the dealership.

The most common issues are
  • The commission that the sales person made from your contract was not explained.
  • The sales person who sold the contract failed to explain the interest charges correctly.
  • The car dealership failed to explain who actually owns the car, whether it be the car dealership or a third party finance company.
  • The salesperson did not make it clear who is financially responsible for the cost of repairs to the vehicle.
  • You were not taken through a comprehensive range of options, as other financial products may have worked out in some cases 50% cheaper than a PCP deal.


Eligible Lenders List

Car Finance Claims Calculator

Use the calculator to work out how much your claim could be worth. 

Claiming Your Compensation For Missold Finance

Claiming your compensation could not be simpler. Click on the button below and complete the questionnaire and we will take it from there. 


Your claim will be conducted on a No Win No Fee basis and on successful completion of your claim a fee of 20% is charged

Claim Now
Authorised and regulated by the Financial Conduct Authority FRN: 830381