If you believe you've been mis-sold car finance, first contact the finance company to discuss your concerns. If unsatisfied with their response, escalate the complaint to the Financial Ombudsman Service.

The compensation for mis-sold car finance varies. It might include refunds of overpaid interest or compensation for misleading information.

Many companies have faced accusations of mis-selling car finance. Always check the latest reports or announcements from the Financial Conduct Authority for specific names.

Legally, you cannot sell or auction a car that is still under finance without settling the finance agreement first, as the lender retains ownership of the vehicle until fully repaid.

PCP (Personal Contract Purchase) claims involve situations where customers were not fully informed about the terms, leading to payments or terms that were not suitable for their financial situation.

Anyone who entered a PCP (Personal Contract Purchase) agreement and feels that they were not given clear or complete information about the terms and costs can potentially claim compensation.

Review your finance agreement for unclear terms, undisclosed fees, or misrepresentations. Consulting a financial advisor or a legal expert can also help determine if your car finance was mis-sold.

Compensation for mis-sold PCP car finance can vary. It generally covers the difference between what you have paid and what you would have paid had the contract been suitably explained.

The claims process typically involves gathering all relevant documentation, submitting a formal complaint to the lender, and if unresolved, taking the case to the Financial Ombudsman Service.

Claims can be made against any car maker or dealership that sold the finance product if they failed to provide clear, accurate information at the point of sale.

Generally, you can make a claim for mis-sold PCP finance within six years of the agreement start date, or three years from when you first became aware (or should have become aware) of the mis-sale.

Mis-sold car finance (PCP) claims arise when consumers are not provided with clear and accurate information before agreeing to a Personal Contract Purchase, leading to unsuitable deals.

The most common claims involve high interest rates, undisclosed commissions, balloon payments, and the failure to explain financial risks or terms adequately.

Hidden commission involves undisclosed payments made by lenders to dealerships based on the interest rates of the finance agreements, which can lead to biased recommendations and higher costs for the consumer.

You can claim compensation for financial losses due to unfair terms, overpaid interest, and fees, or for stress and inconvenience if your situation warrants it.

Any consumer who was not provided with complete and accurate information about their PCP agreement, or who was pressured into agreeing to terms that were not suitable for their financial situation, can claim compensation.

To determine if your car finance was mis-sold, evaluate whether all terms were clearly explained, if there were undisclosed fees or commissions, or if the finance was unsuitable for your financial situation at the time of agreement.

If you suspect that your car finance agreement was unfair or mis-sold, contact us immediately. We will review your agreement, assess the terms, and advise you on whether your suspicions may be justified, potentially leading to a claim for compensation.

An unfair car finance agreement might include high interest rates not aligned with your financial status, lack of proper affordability checks, or undisclosed commissions. If your payments are uncomfortably high or the terms were not clearly explained, these could be signs of mis-selling.

Lenders are required to conduct thorough checks to ensure affordability, including verifying income through pay slips and considering long-term financial stability. They must also consider potential future financial difficulties that could affect your ability to maintain payments.

If you were sold a car finance deal with unjustifiably high interest rates, especially due to broker incentives, you may be entitled to a refund of interest and potentially other charges. Contact us for a detailed assessment and assistance with filing a claim.

While dealerships can act as brokers, they should not set interest rates based on their commission. If a dealership has increased your interest rate to earn a higher commission, this practice goes against Financial Conduct Authority rules and could be grounds for a claim.

Many customers are unaware that car sales agents or brokers receive commissions based on the loans they sell, which can lead to conflicts of interest. If your broker set a higher interest rate to increase their commission without your knowledge, this is likely a mis-sold finance agreement.

To initiate a claim for mis-sold car finance, start by gathering all relevant documentation of your finance agreement and contact us. We’ll help you understand the process, assess the details of your agreement, and guide you through the steps necessary to pursue a claim.