Compensation Due on mis-sold Car Finance!
Compensation Due on mis-sold Car Finance!
Compensation Due on mis-sold Car Finance!
Compensation Due on mis-sold Car Finance!
Compensation Due on mis-sold Car Finance!
In recent years, Financial Conduct Authority (FCA) investigations and reports have highlighted several concerns around the way car finance packages have been sold to consumers across the United Kingdom.
Such is the level of concern and the variety of ways car finance has been mis-sold that the FCA themselves have suggested that some car retailers and motor finance brokers received commission which was linked to the interest rate that customers paid – that created an incentive to sell more expensive credit to some customers.*
Depending on the way in which your PCP agreement was sold, you could have paid thousands of pounds more than you should have done. If you’ve repeatedly changed cars every 2 – 3 years with the same dealer and you’ve been mis-sold every time, you might be due up to a decade’s worth of overpayments!
In recent years, Financial Conduct Authority (FCA) investigations and reports have highlighted several concerns around the way car finance packages have been sold to consumers across the United Kingdom.
Such is the level of concern and the variety of ways car finance has been mis-sold that the FCA themselves have suggested that some car retailers and motor finance brokers received commission which was linked to the interest rate that customers paid – that created an incentive to sell more expensive credit to some customers.*
Depending on the way in which your PCP agreement was sold, you could have paid thousands of pounds more than you should have done. If you’ve repeatedly changed cars every 2 – 3 years with the same dealer and you’ve been mis-sold every time, you might be due up to a decade’s worth of overpayments!
What is mis-sold car finance?
In recent years, Financial Conduct Authority (FCA) investigations and reports have highlighted several concerns around the way car finance packages have been sold to consumers across the United Kingdom.
Such is the level of concern and the variety of ways car finance has been mis-sold that the FCA themselves have suggested that some car retailers and motor finance brokers received commission which was linked to the interest rate that customers paid – that created an incentive to sell more expensive credit to some customers.*
Depending on the way in which your PCP agreement was sold, you could have paid thousands of pounds more than you should have done. If you’ve repeatedly changed cars every 2 – 3 years with the same dealer and you’ve been mis-sold every time, you might be due up to a decade’s worth of overpayments!
In recent years, Financial Conduct Authority (FCA) investigations and reports have highlighted several concerns around the way car finance packages have been sold to consumers across the United Kingdom.
Such is the level of concern and the variety of ways car finance has been mis-sold that the FCA themselves have suggested that some car retailers and motor finance brokers received commission which was linked to the interest rate that customers paid – that created an incentive to sell more expensive credit to some customers.*
Depending on the way in which your PCP agreement was sold, you could have paid thousands of pounds more than you should have done. If you’ve repeatedly changed cars every 2 – 3 years with the same dealer and you’ve been mis-sold every time, you might be due up to a decade’s worth of overpayments!
You can start your free check today
if any of these scenarios apply!
- Not telling you how they earned their commission
- Failing to highlight different financing options, or pushing you specifically towards a PCP deal
- Not checking if your finance agreement was affordable
- Failing to outline how interest was applied to your PCP agreement
- Pressurising consumers into a PCP agreement
- Hiding or not disclosing excess mileage charges
- Not clarifying who owned the vehicle, or how you could come to own the vehicle
- Misleading you around the terms of a PCP agreement
- Providing information that could be construed as advice despite not being regulated to do so
- Final payments being much higher than advertised or advised
- Misleadingly telling you they were responsible for servicing and repairs
You can start your free check today
if any of these scenarios apply!
- Not telling you how they earned their commission
- Failing to highlight different financing options, or pushing you specifically towards a PCP deal
- Not checking if your finance agreement was affordable
- Failing to outline how interest was applied to your PCP agreement
- Pressurising consumers into a PCP agreement
- Hiding or not disclosing excess mileage charges
- Not clarifying who owned the vehicle, or how you could come to own the vehicle
- Misleading you around the terms of a PCP agreement
- Providing information that could be construed as advice despite not being regulated to do so
- Final payments being much higher than advertised or advised
- Misleadingly telling you they were responsible for servicing and repairs
You can start your free check today if any of these scenarios apply!
- Not telling you how they earned their commission
- Failing to highlight different financing options, or pushing you specifically towards a PCP deal
- Not checking if your finance agreement was affordable
- Failing to outline how interest was applied to your PCP agreement
- Pressurising consumers into a PCP agreement
- Hiding or not disclosing excess mileage charges
- Not clarifying who owned the vehicle, or how you could come to own the vehicle
- Misleading you around the terms of a PCP agreement
- Providing information that could be construed as advice despite not being regulated to do so
- Final payments being much higher than advertised or advised
- Misleadingly telling you they were responsible for servicing and repairs
You can start your free check today if any of these scenarios apply!
- Not telling you how they earned their commission
- Failing to highlight different financing options, or pushing you specifically towards a PCP deal
- Not checking if your finance agreement was affordable
- Failing to outline how interest was applied to your PCP agreement
- Pressurising consumers into a PCP agreement
- Hiding or not disclosing excess mileage charges
- Not clarifying who owned the vehicle, or how you could come to own the vehicle
- Misleading you around the terms of a PCP agreement
- Providing information that could be construed as advice despite not being regulated to do so
- Final payments being much higher than advertised or advised
- Misleadingly telling you they were responsible for servicing and repairs
Frequently Asked Questions
It depends on several factors, including:
• The level of finance involved. In general, a more expensive car means higher repayments, and higher levels of compensation if you’ve been mis-sold.
• How long ago you took out your PCP agreement.
• The interest rate applied to your PCP agreement, and whether this is higher than it should have been.