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Home Car Finance Claims – Start Your Claim

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Frequently Asked Questions (FAQs) for PCP, HP and Car Finance Claims.

Why can I complain?

Car sales firms recieved commission from selling loans however many customers were unaware of the level of these charges which ultimately resulted in paying significantly higher costs.

 

Some firms allowed the salesmen to select a higher interest rate than the bank offered which resulted in significantly higher costs for consumers. These higher interest costs went straight to the garages & their sales staff as commission.

What about Bikes, Vans, Motorhomes, Boats and Caravans?

We can also help whether you purchased a motorbike, vans, trucks, pick-ups, campervan, tourer, caravan, motorhome, bike, electric vehicles or even boat.

It also doesn’t matter if the car or vehicle was purchased new or used.

Just complete the form above and we’ll get started on your claim!

How to Identify If You Were Mis-Sold Car Finance

If you’re wondering whether you fall into the category of individuals who were mis-sold car finance, consider the following:

Were you informed about the commission the dealership would earn from your finance?

Were you informed that the interest rate may be set at a higher rate by the seller rather than the finance provider?

Did you receive the best interest rate available, or was it inflated?

Were you provided with a range of finance options suited to your situation?

What is the process for making a claim?

The process begins when you provide us with details of any vehicles you’ve had on finance. We’ll then contact the finance provider to gather all necessary documents and/or submit a complaint to the relevant firm. While it’s helpful to provide us with copies of your car loan contract at this stage, if you don’t have this we can still go ahead.

 

You can start the process to reclaim 24/7 by completing the form above, uploading any paperwork you have and reviewing and signing the agreement online.

 

If you have any questions just give us a call and we’ll be happy to help.

How can I speed up the process?

To expedite the assessment process, having any paperwork related to your past and present vehicles on hand can be incredibly beneficial. You can start the process through our online claim form.

What is the average payout for mis-sold car finance claims?

We’ve all seen the adverts showing X or Y amounts in compensation but the reality is you may get more than this or may get less.

If the claim on your car finance is sucessful the amount you recieve will vary depending on a number of factors such as how long ago the loan was taken out, the interest rates charged and the amount borrowed.

 

Obviously if you were ripped-off more then you should recieve more compensation than others!

 

Please be wary of firms promoting high compensation figures as this is often based on a claim of customers having multiple loans.

Do I have to hand the vehicle back if I claim successfully?

Absolutely Not. You would not have to return the vehicle if your claim is successful. The only situation in which you might not receive the full compensation owed is if you’re in arrears with your finance payments or have defaulted on the loan. In such cases your compensation might be used to bring your account up to date. Please make sure you tell us as if you are in arrears as we may not be able to help.

What if I do not have any paperwork?

Lack of paperwork is not an issue. We can request the necessary documentation from both the dealership and/or the finance provider on your behalf.

Mis-sold car finance calculator

The amount you’re owed due to mis-sold car finance depends on your unique situation and the details of your car finance loan.This is impacted by how much you were overcharged as a result of the hidden commission, the value of the loan, how long the loan was for and how long ago you took this out.

Do I need to use Claims or another CMC to make claim?

No, absolutely not. You can complain or claim directly to the lender for free and if they reject your claim to the Financial Ombudsman Service for free. There may also be a redress scheme set up which will also be free.