Trust the UK's PCP reclaim specialists.
We do all the hard work so you don't need to!
Submit your details securely online and we will be in touch by email & SMS
Start your PCP Car Finance claim today. You will only be charged after the claim has been won!
Think you may have a PCP Refund Claim ? Buying a new car nowadays on PCP can be an expensive affair, so much so, that there are various options to purchase the vehicle by different PCP car finance deals, to spread the cost of the car by paying a small amount per month. These finance options often seem good deals, especially when the monthly payments can be low, however, on many occasions, these finance options are actually mis-sold to customers; in some cases, customers also pay over 50% more on their car finance packages than they should be. Are you owed a PCP Refund?
The two most common forms of car finance deals are hire-purchase and Personal Contract Plans (or PCPs). A PCP is similar to a person loan, in that a pre-agreed amount is paid back over a set period of time (usually 2-4 years for cars). The loan amount is calculated by the anticipated depreciation value of the car. PCP Car Loan Refunds, Once the loan period is over, the customer can opt to make a single payment- a sum that’s equal to the estimated worth of the car at that point- to enable them to own the car outright.
One common misconception with PCPs is that you are paying off the value of the vehicle per month, as part of the loan amount. In reality, the monthly payments are actually paying off the difference in the car’s value, from when you purchase it, to when the contract actually finishes. For example, if the car’s value goes down by £4,000 over the contract period, that is what you will pay in total, through the monthly payments. Even after the monthly payments, you still do not own the vehicle.
At the end of the contract, you can either give the car back, or pay lump sum to keep (and therefore own) the vehicle. This is known as a balloon payment. PCPs are popular, as it enables people to afford a brand-new car. To give you some idea; back in 2012, the total amount of car loans taken on by consumers was £28 billion. In 2016, just four years later, that figure had risen to £58 billion. Unsurprisingly, motor finance is second only to the mortgage market when it comes to loans
Firstly, contact the lender and explain why you fell you should be rewarded for a PCP compensation claim. If the lender refuses to help, you are able to take the PCP complaint to The FOS.
The FOS look at all financial claims including possible PCP commission claims. PCP car finance should never be sold without conducting the checks necessary whilst openly offering the income generated in commission.
Car sales / PCP finance mis sold questions and answers please contact us today and we will do our very best as the UK’s best PCP claims company online,
The FCA have found that some dealerships and finance companies have been overcharging customers by over £1,000 per deal. As PCPs are essentially interest-only loans, the interest charges can be more expensive than anticipated especially if the process wasn’t clearly explained to you when you agreed to the deal. Customers have reported that ‘Car payments are ruining out lives’, with the newspaper, the Sun, reporting that ‘millions could be owed compensation for unaffordable and expensive car finance deals’.
If you are looking for a help with your PCP claims and need a specialist PCP claims company to help with a compensation claim for your BMW PCP or AUDI PCP claim you are in the right place. We have had experience with many of the biggest brands in the UK including success in claiming Range Rover PCP claims.
Compensation for mis sold car finance is nothing new. Car sales agents have been reducing the price of cars and vans for years to make the purchase look attractive, yet the sales agent in recent times increases the APR charged regardless of your credit history for the commercial gain of the sales agent.
If you are reading this and recall buying a car on finance and believe you may have been mis sold a PCP finance deal we would recommend you allow the experts to help you determine if you PCP car finance claim has been mis sold or not.
We maybe able to help you with your PCP claim back. The PCP claim check tool is free to use and offers a quick calculation for mis sold car finance PCP claims.
PCP claim check – Car finance PCP claim – Mis sold Car finance PCP – mis-sold PCP claim
Here are some examples of circumstances where you might have been mis-sold a car finance package:
Start your claim or get in touch with the experienced team at one of our partner CMC’s who will guide you through the process.
You could be eligible to claim compensation. Start your refund claim online and begin the process to reclaim a refund from PCP.
If you are a PCP customer, you could be eligible to claim a refund.
Please wait while we find the perfect match for your claim.
Don't worry, you're in good hands - We partner with many professional specialists who are ready to help.
We will automatically redirect you in 5 seconds.
If you are not automatically redirected, please click the button below: