A guide to claiming money back from car finance

Have you bought a car on finance in the past 10 years? If so, you could claim back thousands in mis-sold car finance. According to a FCA report done in March 2019, car finance consumers may have been overcharged and deceived when arranging their car finance deals. They found that only 28% of car dealers informed customers about the consequences of missed payments.

Have I been mis-sold car finance?

There are several methods that a dealer or lender uses to mis-sell a car on finance. If you have found yourself in any of the scenarios below, then there is a good chance you’re a victim of mis-selling.

If you believe that the salesperson failed to adequately run through all of your finance options or alternative deals, you could have been mis sold PCP car finance Manchester. Also, if they failed to tell you about receiving a commission on the sale or inform you that you’d be the person paying it, you have probably been mis-sold.

Finding out whether you have been mis-sold car finance can be tricky, especially if the deal took place a long time ago or there’s a lot of complicated paperwork. The fastest way to find out if you have been mis-sold car finance is to contact one of our expert advisors free of charge. We will take all the information you have and find out if you are eligible for compensation.

How much compensation will I get?

How much compensation you get will depend on your circumstances. On average, the amount of compensation for a car finance claim is £1,100. However, the number can be considerably higher for some claims.

Four things can affect the amount of compensation you receive:

1. The amount of the loan - the higher the loan, the more you’ll be able to claim.
2. The amount of time that has passed since you first signed up for the loan - the longer the loan term, the more you can claim.
3. What rate the lender quoted you.
4. The amount between the quote you received and the quote you should have received.

How to make a claim?

Now you know you’ve been mis-sold and have an idea of how much compensation you will receive, it's time to start your free car finance claims Manchester. Making a car finance claim can seem quite daunting, but it is a much easier process than you may think.

The first thing you should do is gather any documentation about the claim or evidence of the mis-selling. The more information we have, the quicker we will be able to process your claim. Don’t worry if you don’t have any of this, we may still be able to help. Instead, look through your bank statement to find the name of the company you look for the finance loan from.

Simply fill in our short form and we can start processing your claim. We will negotiate with lenders on your behalf and get the best deal for you. There is no need for you to worry about complicated paperwork and legal jargon as we handle this for you. All of our services are offered on a no win-no-fee-basis, so there is no risk in starting your claim.

PCP Claimsline - Car Finance Claims | Claims Management Company