Faqs
A PCP finance claim allows you to seek compensation if your PCP car finance agreement was mis-sold.
If you purchased a car, van, or motorbike on PCP or HP finance before January 2021, you may have been mis-sold. Many drivers were unknowingly charged higher interest rates, or had undisclosed commissions added to their agreements, costing them more than necessary.
Common reasons for PCP finance claims include:
- High-interest rates set by dealers to increase their commission.
- Undisclosed commissions that were not explained to you.
- Lack of affordability checks to ensure you could afford repayments.
If your agreement was mis-sold, you could be entitled to a car finance refund or compensation. Use our car finance checker to find out if you qualify.
To make a PCP car finance claim or other car finance claims, you must prove your agreement was mis-sold or breached regulations. Key criteria include:
- Misrepresentation of terms: Dealers misled you about costs, interest rates, or failed to explain the agreement.
- Undisclosed commission: A commission was paid to the dealer without your knowledge, affecting your deal.
- Lack of affordability checks: The lender failed to check if you could afford the repayments.
Use our car finance claim calculator or car finance checker to determine your eligibility.
You might have been mis-sold if:
- Interest rates were inflated to maximise dealer commissions.
- You weren’t told about the dealer’s commission incentive.
- Terms of your car finance agreement were unclear.
Check for car finance mis-selling using our car finance claims check tool.
Compensation depends on your loan amount, interest rate, and repayment period. Examples include:
- £5,492.10 with Black Horse
- £4,478.46 with MotoNovo
- £2,449.65 with Close Brothers
The mis-sold car finance average payout is around £1,600, but amounts vary.