Car finance claim specialists: The UK car finance industry has been rocked by revelations of widespread mis-selling, with millions of drivers potentially overcharged due to undisclosed commissions and unclear finance terms.
The Financial Conduct Authority (FCA) has highlighted that practices like Discretionary Commission Arrangements (DCAs), banned in January 2021, led to inflated interest rates without consumer knowledge. Your Lawyers is a car finance claim specialist dedicated to helping you recover compensation for these unfair practices.
This article outlines the issue, your rights, and how our expert team can guide you through the claims process to secure the redress you deserve.
The car finance mis-selling scandal centres on hidden commissions and unclear terms in Personal Contract Purchase (PCP) and Hire Purchase (HP) agreements, particularly those taken out between April 2007 and January 2021. Dealerships often received commissions from lenders without informing customers, leading to higher interest rates and increased borrowing costs in some casses. A landmark Court of Appeal ruling in October 2024 deemed such undisclosed commissions unlawful, potentially entitling millions to compensation.
The impact of undisclosed commissions and unclear terms meant that some customers may have paid thousands more than necessary, often without understanding the full terms of their agreements. For example, a typical £10,000 loan could have incurred an extra £1,100 in interest due to hidden DCAs. Now is the time to act to ensure your claim is lodged promptly.
As leading car finance claim specialists, Your Lawyers has extensive experience in financial cases, representing thousands of UK drivers in securing compensation for unfair car finance agreements. Our No Win, No Fee approach ensures you face no worries when pursuing a claim. We can meticulously review your finance agreement to identify undisclosed commissions, inflated interest rates, or misleading terms, building a robust case to maximise your compensation.
The FCA estimates that 95% of car finance agreements involved commissions, making it highly likely you were affected. Our team handles everything from gathering evidence to negotiating with lenders or escalating cases to the Financial Ombudsman Service (FOS), ensuring an easy process.
Pursuing a car finance compensation claim is straightforward with Your Lawyers. Even if you have paid off your loan or no longer own the vehicle, you may still be eligible. The FCA’s ongoing investigation could lead to a redress scheme, but acting now ensures your claim is prioritised. We can offer a free case assessment to determine your eligibility and guide you through the process, ensuring you keep the maximum compensation possible.
If you financed a car, van, or motorbike between April 2007 and January 2021, you could be owed thousands in compensation for undisclosed commissions and unclear finance terms. Do not let mis-selling go unchallenged—join the many drivers fighting for justice with Your Lawyers. As trusted claim specialists, we make the process simple, transparent, and our No Win, No Fee service.
Claim with us today here now. Act now to secure the compensation you could be entitled to and hold lenders accountable.
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