Mis-Sold PCP Car Finance Claims

Did you get a car on finance but you couldn't afford payments or you weren't told about the car dealer's commission?

What is a PCP Claim?

A PCP claim is a claim for compensation against a finance provider who sold you your car on a monthly payment plan. There are 2 ways you could have been mis-sold car finance:

1. Unaffordability – If you were/are unable to keep up with your car finance payments, the car dealer may not have sufficiently carried out an affordabilty check. They should have asked a series of questions to find out if you could keep up with your payments!

2. Undisclosed Commission – The Financial Conduct Authority (FCA) recently ran an investigation and found that car dealers were able to boost the interest on a finance agreement which gave them more commission. If you were not told about how much commission they’d be earning, it is likely you were mis-sold car finance.

If you took out a PCP or HP agreement before January 2021, it is worth checking with a solicitor to find out if you’re eligible to claim some money back from the lender. 

If you’ve financed a car before January 2021, chances are you weren’t informed about hidden commissions within the agreement. This widespread issue, recently investigated by the Financial Conduct Authority (FCA), has resulted in many UK car owners overpaying on their monthly car finance. Car dealerships increased interest rates to earn more commissions, leading to many car owners overpaying on their finance agreement and struggling to make payments.

How much compensation can I get from my PCP claim?

This depends on the amount of finance taken, the interest rate applied, the commission model used and affordability. The average claimant receives £5,318.25 but it could be up to £10,000!

In order to find out you can fill out our form and we will run a series of checks to find out if you can claim under unaffordability or if you were paying for secret commissions. 

The exact amount you may be able to claim will be dependent on several factors:
pcp claim car finance
pcp claim car finance

How do I know I've been mis-sold PCP car finance?

If you bought a car on PCP finance before 2021, then it’s quite possible you have a claim. The quickest and simplest way to know if you have a mis-sold car finance claim is for us to review your car finance agreement. There are signs that you can spot yourself, however.

Ask yourself:

Courmacs Legal Ltd. specialises in civil litigation, particularly in mis-sold car finance claims. We’re committed to assisting those who’ve been misled and mis-sold, securing compensation. For advice or to initiate a claim, use our dedicated PCP claim form or request a callback, and our advisors will reach out promptly.

Ready to claim compensation?

Start your claim now or speak to one of our friendly team over the phone and find out if you're eligible for compensation. We offer a free, no-obligation eligibility check, just fill out our PCP enquiry form.

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PCP Claim FAQs

How much is the average PCP claim?

Over 560,000 consumers have been victims of PCP mis-selling and could be eligible for up to £10,000 in compensation. The average claim is £5,318.25 in compensation.

How can I make the claims process as quick as possible?

In order to speed up the claims process, please provide as much information as you can about your financial agreement. It’s always a good idea to save policy documents; by providing these, we can locate your policy within the lender’s systems. 

This will also help avoid requests for further information later on in the process.

How long does a PCP claim take?

The length of time a claim will take generally depends on the lender’s response time. As mentioned, there are two routes your claim could take: unaffordabilty or undisclosed commission.

  • Unaffordability PCP claims tend to take around 10 weeks to settle, however, if the lender does not want to settle it can take longer. These claims are fairly straight-forward and tend to be settled quickly.
  • Undisclosed commission claims are more complex and need to be handled a little differently. These claims can take around 12 months to settle, depending on whether they need to go to court and, again, if the lender is willing to settle quickly.
What are Courmacs' fees?

We do not take any up-front fees! You may have heard of ‘no win, no fee’ – this seems a little daunting, however it just means that we back every compensation claim with insurance to ensure that if your case is lost, you will not have to pay anything. 

If your case does win and you receive compensation, we will take a percentage to cover our solicitors’ time working on the case. 

We guarantee that all our clients will receive at least 51% of the compensation rewarded.

Will I ever have to pay costs out of my own pocket?

Absolutely not! We work on a no-win, no-fee basis so your claim is entirely backed by insurance. If your claim doesn’t win, our fees will be paid by the insurance company and your case will be closed with no hidden costs to you. If your claim is settled, the lender will pay your compensation into our ‘client account’, our percentage of fees will be deducted, and you will be paid your compensation promptly.

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