At Your Lawyers, we are dedicated to helping motorists affected by PCP car finance mis-selling claim the compensation they deserve.
The UK car finance industry has been rocked by revelations of alleged widespread mis-selling, particularly around Personal Contract Purchase (PCP) agreements. Between 2007 and 2021, millions of drivers might have entered into finance agreements tainted by undisclosed commissions and unclear terms, leaving them overcharged and uninformed.
One key issue stems from discretionary commission arrangements (DCAs), where dealers could increase interest rates to boost their own payouts – without telling you. Add to that reported failures to clearly explain contract terms, such as balloon payments or ownership options, and it is clear why so many are now eligible for refunds.
At the heart of PCP car finance mis-selling lies an alleged lack of transparency. Dealerships and brokers might have earned secret commissions by hiking interest rates, a practice banned by the FCA in 2021 after years of consumer harm. For example, on a £10,000 loan, you might have paid an extra £1,100 in interest without ever knowing why. Also, many agreements glossed over key details – like the final balloon payment or mileage limits – leaving drivers trapped in deals they did not fully understand.
The FCA’s ongoing investigation is shining a light on these practices, with a potential redress scheme on the horizon. Whether your agreement was for a PCP or Hire Purchase (HP) deal, you might have a claim. Your Lawyers operate on a No Win, No Fee basis, and with our expertise, we may be able to help you.
Navigating the fallout of PCP car finance mis-selling can feel overwhelming, but Your Lawyers make it simple. As one of the UK’s leading consumer law firms, we have built a reputation for taking on big companies and winning. Our team has recovered over millions for thousands of claimants in collective actions. We can handle everything – from digging up old agreements to challenging lenders – ensuring you do not have to do the legwork. If your claim succeeds, you could receive thousands.
The clock is ticking, though. Whilst the FCA’s review is ongoing, lodging a complaint now can help to secure your place in line and protect against certain time limits. Whether you have paid off your car or are still making payments, Your Lawyers can assess your case for free. We believe that some payouts can vary – some at lower levels of £1,000 or so, and others topping £10,000 – depending on the loan size and overcharges. With our proven track record and commitment to justice, we are the team you want fighting your corner against PCP car finance mis-selling.
Do not let undisclosed commissions or unclear terms cost you any longer. If you had a car finance agreement before January 2021, you could be entitled to significant compensation – and the team here at Your Lawyers is ready to help you claim it. Our No Win, No Fee service means you have got nothing to worry about, and perhaps a lot to gain.
Take the first step towards justice by contacting us today for a free eligibility check. Join thousands of satisfied clients and let Your Lawyers turn your PCP car finance mis-selling claim into a successful legal case.
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