What is the criteria for making a claim?

To make a PCP (Personal Contract Purchase) claim, you must show that the agreement was mis-sold or breached regulations. Key criteria include:

• Misrepresentation of Terms: The dealer misled you about costs, interest rates, or failed to explain the agreement clearly.
• Undisclosed Commission: A commission was received by the dealer without your knowledge, affecting the deal offered.
• Lack of Affordability Checks: The finance provider didn't properly assess whether you could afford the repayments.

How have I been mis-sold

Interest rates we're at the discretion of the dealer/broker, meaning the higher the interest rate charged the higher the commission the dealer/broker received, clients were also not made aware of the commission incentive that they we're receiving for this

What a mount compensation will I receive?

Compensation depends on factors like the interest rate, loan amount, and how long you've been repaying the loan. We've seen some claims worth up to £5,492.10 with Black Horse, £4,478.46 with MotoNovo, and £2,449.65 with Close Brothers. The average claim value is expected to be around £1,600.

How has mis-sold car finance come about?

In 2019 the FCA were concerned that about the way commission arrangements were operating in motor finance and that is has lead to harm on a significant scale

How long until I receive my compensation

Clients can expect updates on their PCP claims after the FCA concludes its investigation, currently scheduled for December 2025. submitting your claim as soon as possible is advisable. Acting now reduces the risk of missing out due to any future deadlines imposed following the FCA's final report.

How much do you take out of my claim?

Where the service is offered at No win no Fee this means that a customer will typically pay 30% + VAT 36% including VAT of any amount recovered by a panel solicitor although this will be subject to your individual circumstances and the actual fee may be less than this, but it will never be more. A cancellation fee may be charged by a third party/panel solicitor if you cancel outside the cooling off period.