Frequently Asked Questions

This depends on many factors including the wording of the finance agreement, the interest rates that were charged, the amount of finance and how long ago the PCP finance agreement was signed. However, you could be entitled to thousands of pounds in compensation. If you think that you have been mis-sold car finance, get in touch with our mis-selling team and we can discuss your claim and what it might be worth.

This varies from claim to claim. If the dealership and/or the finance company accepts responsibility for the alleged PCP mis-selling and agrees to put things right, then a compensation claim can take just a few months. If the allegations are disputed, then the claim could go to the Financial Ombudsman Service (FOS), where the case could take anywhere between 12 to 18 months to conclude. If starting court proceedings is the best option, then that process again could take somewhere between 12 and 18 months.

It will cost you nothing to make an enquiry and once our team has reviewed your potential case and if we feel it suitable, then we will enter into a no-win-no-fee agreement. That means, if the case is unsuccessful, we will not charge for the time we have spent on the case. If we are successful then we will charge you between 18% and no more than 30% +vat, depending on the amount of your refund.

This is where the car dealer sells you a finance package for the car but does not tell you that they are getting a commission or just how large the commission they are getting is. Most customers expect the salesperson or dealership to make their money on the sale of the car, but they do not realise that they may also be getting a commission from the finance company for the PCP finance agreement that goes with it meaning that the customer is potentially paying more than they should.

Because of the high risk of there being a conflict of interest between the customer and the car dealer (the dealer recommending finance products based on the amount of commission as opposed to what is best for their customer), and to ensure full transparency for their protection, the exact amount of this commission should be disclosed to the customer.

If the payment of commission and the amount of that commission has not been explained, then the customer can claim compensation for mis-sold PCP car finance.

Anyone who has taken out a car on PCP finance with any dealership for any manufacturer’s vehicle since 2014 is very likely to be affected.