How It Works
Find out why you can claim and how we make the process super simple!
Why Can You Claim?
There are numerous reasons why dealers and lenders have mis-sold car finance. As regulated financial institutions, they must clearly and fully explain to you the deal you’re being offered so that you can understand the benefits, financial implications and drawbacks of the product on offer before making an informed decision.
Here's where they went wrong...
Unfair Commissions
Many intermediaries and dealers were paid a commission fee to sign customers up for PCP and HP agreements without the nature and size of the commission being clearly and fairly explained. Some commissions were as high as 50% of the interest payable under the agreement, adding to the overall cost of the loan and paid by the customer without their knowledge. This practice is highly unethical and has subsequently been banned.
Inflated Interest
Not only have intermediaries and dealers failed to explain the commissions they received from selling to the customer, but they have also been actively incentivised to sell unnecessarily high-interest-rate loans and have been rewarded for doing so. Consumer law stipulates that consumers should be provided with all the necessary information to make an informed decision, but this has not been the case for millions of customers.
Inadequate Checks
On a widespread basis, customers were offered car finance that, on face value, they should have been declined for due to having inadequate credit ratings or financial means. This oversight has led to the sale of expensive products to people who arguably can’t afford them, causing further and unnecessary economic hardship on a massive scale, resulting in car finance claims. Regulated finance providers have a duty of care that, in some cases, has been broken.
Your Rights
You have the right to purchase car finance that is fair, transparent, and meets your needs. If you've been treated unfairly by your lender, you may have a right to claim compensation.
Our Process
Want to start your journey towards compensation? Follow our simple process:
1
Check Your Eligibility
Use our easy online check to see if you meet the criteria of a potential claim. It only takes two minutes to complete.
Start Check2
Provide Your Details
If you’re eligible, then we’re ready and waiting to help! Provide us with details about your car finance agreement, and we'll prepare to submit your claim to your lender.
3
We Assess Your Case
We'll constantly assess the viability of your case throughout the process of handling your claim and will keep you updated. Our dedicated team will work with your lender to confirm if you're potentially eligible for redress.
4
Compensation Secured
Using our knowledge of your case, we will check any settlement offers received from your lender to ensure they are fair and proportionate. We will challenege it on your behalf if we feel it's too low. To find out more, read our guide to PCP finance compensation.
