Check if you’re eligible to make a mis-sold car finance claim now.
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Most people buying new or used cars sign up to what is known as a Personal Contract Purchase (PCP) financial plan. It has been common practice for the salesperson to receive a large commission from the lender finance company in return for signing the customer up to the PCP finance agreement. Quite often customers are not told about the amounts of commission paid. Commission which is increasing the cost of their car.
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We assist in claiming compensation for the mis-sale of finance on the vehicle. This is usually if you were not provided different finance options to find the right fit for you – often resulting in you paying more than you should have.
This can also be if you encountered unexpected charges at the end of the finance, or if you fell in payment difficulties as the finance was unaffordable.
We assist in claiming compensation when the Dealership did not disclose that they were receiving a commission for arranging your finance agreement with the finance provider.
This is known as a 'Section 140' claim. Both the Dealership and Finance Provider were obligated to be transparent and inform you of the commissions being paid – and if was actually you who was paying this by the way they applied the interest rate.
Warning signs of potential car finance mis-selling include:
The car salesperson told you their finance was the ‘best option’ rather than encouraging you to shop around or giving you a range of alternative options.
The salesperson did not give you information about any commission that they were getting from the finance company for you signing up to the agreement.
You were not told exactly how much commission they would get from the finance company.