Have you ever used vehicle finance? You may have been overcharged. Claim the compensation you deserve.
Tens of thousands of UK car owners could be owed compensation after being mis-sold personal contract purchase (PCP) car finance.
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£300 million
The FCA found approximately 560,000 customers have paid out over £300 million more in car finance per year than was necessary.
£1,100
An FCA investigation revealed that the average customer on a £10,000 PCP agreement over four years has been overcharged by more than £1,100.
You could be one of thousands of victims of mis-sold motor vehicle finance if:
- You borrowed more money than was necessary
- You weren’t given enough information about other options such as hire purchase
- You felt pressured into accepting a PCP agreement
- The commission on your sale wasn't revealed to you
- You were sold a mileage estimation that was too low
- They didn't make it clear who owned the car
- You weren't told who is financially responsible for repairs
- It wasn't explained you wouldn't automatically own the car outright after the term
Let the experts in PCP Claims handle your claim today
Let the experts in PCP Claims handle your claim today
Looking for more information?
Personal contract purchase (PCP) is a car finance agreement that typically lasts for 2 – 4 years. Buyers pay a deposit, and the size of the loan is equal to the amount the car’s value will fall over the length of the contract.
Anyone who has taken out a PCP contract in the last 10 years can pursue a claim.
Yes, you can.
Any broker, dealer or car finance provider that sold you a PCP contract is covered. Some well-known ones include:
- Moneybarn
- Zopa
- Car Finance 247
- Shawbrook Bank
- My Car Credit
- Zuto
- Bamboo
- Paragon Car Finance
Even if your provider isn’t on the list, you can still make a claim with us.
We’re proud to offer a no-win-no-fee service. We ask for nothing upfront and in the unlikely event that your claim isn’t successful, you won’t have to pay anything.
This depends on your situation. If your claim is successful, you’ll get a payout minus our fee.
Yes, you can claim for any PCP agreements you’ve had in the past 10 years.
Articles
The scandal over mis-sold PCP policies has come under severe scrutiny in recent years, with a considerable amount of car buyers being unwittingly overcharged.
A number of terms and conditions come with a PCP agreement, such as mileage limits being imposed, and what is deemed an ‘acceptable condition’ of the car at the end of the contract. It is also important to know the total sum of a ‘balloon payment’ you will have to pay in order to own the vehicle at the end of your PCP agreement. Find out the warning signs you should look out for when entering into a PCP car finance agreement by viewing our PCP articles here
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Brokers and dealers misled thousands of car owners to the tune of £300 million by not properly explaining the terms of PCP agreements. If you’ve ever had a PCP deal, you could be eligible to claim compensation.
Our friendly webchat team are on standby to answer any questions you may have.
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