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Motor Finance Claims

Unlock Your Compensation: Mis-sold Car Finance Claims! Learn About Hidden Commissions, Eligibility, and Protect Your Rights. Act Now to Reclaim What You're Owed.

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The Financial Conduct Authority has found that commission was paid on 95% of UK car finance PCP agreements. If you were not informed about this commission or the finance deal wasn’t right for you, you could be owed thousands in mis-sold car finance compensation.
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If you have purchased your vehicle via a car finance deal, your lender is obliged to inform you of exactly what is involved in that deal. You must make an informed decision so that you know the finance deal is right for you. Car salesmen or women cannot act in their own interest.If you were not informed thoroughly about your PCP agreement and the costs involved, you could be owed mis-sold car finance compensation.
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If you believe you have been mis-sold a finance deal and feel trapped, you may be owed thousands. Even if you haven’t lost money, if the car finance deal isn’t right for you and your financial situation you can potentially bring forward a claim for PCP mis-selling. If you used PCP or HP to finance a vehicle between 2007 - 2021, you could be owed compensation.

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What Are Mis-Sold Car Finance (PCP) Claims?

You may have been a victim of mis-sold car finance if you have received negligent or poor advice in relation to your car finance options in the last six years, or if you were not made aware of any commission being charged within the agreement. The lender might have been misleading about the extra costs involved, or they may have charged you more interest than they should have.

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What is Hidden Commission?

Hidden commissions occur when an agent, introducer, or finance broker sells you a loan or finance agreement from a bank or lender. In the case of car finance, it might be the car salesperson or dealership that brokers the finance deal.
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If the car salesperson received a fee or commission for bringing the car finance deal to the bank, and the bank has not informed you of this, that is a hidden, secret, or undisclosed commission. The finance provider or bank must inform you of ALL of the fees within the transaction.

Secret Commission in Car Finance PCP Deals

Official reports from the Financial Conduct Authority have shown that the car finance providers have a habit of concealing the existence of any commissions offered by their brokers. In their investigation in regard to the mis-selling of Car Finance (PCP), they found that:

- Out of the 122 car dealerships visited by mystery shoppers just 11 car dealerships confirmed that commission will be added on this type of deal.

Customers overcharging?

Some cases show that customers are being overcharged by over £1,000 in interest in order for the dealership to obtain a higher commission pay-out. The FCA estimates this could be costing consumers £300 million annually.

The FCA bans hidden commission in car finance.

In June 2020, the FCA banned commission linked to car finance deals outright. This means that car finance brokers won’t be allowed to charge a commission based on the interest rate offered from January 28th 2021.

You are still able to claim compensation if you believe the commission was hidden from you in a previous car finance deal.

The Financial Ombudsman Service can also compensate you if the lender has gone out of business and is not able to pay you anything.

Who can claim Mis-Sold PCP Compensation?

If you bought via a car finance agreement in the past six years, then it is possible you may be eligible to claim mis-sold car finance compensation.

You may be eligible to claim if:

- You purchased your car via car finance/HP/PCP agreement
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- This happened between 2007- 2021

You may have been a victim of mis-sold car finance if you have received negligent or poor advice in relation to your car finance options or if you were not made aware of any commission being charged within the agreement.

*Terms and conditions apply. You may be charged if either we or you terminate the agreement early, depending on the circumstances.
Please refer to your Damaged Based Agreement (No-Win-No-Fee) for more details.

Our No-Cost Guarantee

All of our Motor Finance claims are handled on a ‘No Win No Fee’ basis, which means that you do not have to worry about any financial risk at all. If your claim is unsuccessful, it will not cost you anything.*

We appreciate and understand that you are already out of pocket because you have lost money from your agreement, so we do not consider it is fair to ask you to risk losing any more money by making a claim.

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Our team is highly qualified. It's comprised of experts with many years of combined experience. We're confident that we'll give you the best advice available.

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