FAQs
Got questions? Here we answer some FAQs about car finance claims:
I can’t find the paperwork relating to my agreement. Can I still claim?
Yes, we can still help you. Many of our clients don’t have print outs or digital copies. But if you share some details via our claims checker form we can progress your case.
I don’t remember the number plate of the car I had finance on. Can I still claim?
Yes, we can help. Just contact us to discuss your situation and see if you may be due compensation.
I can’t remember which lender I had a car finance agreement with. Will that affect my claim?
No. We can search your credit record for any motor finance agreements you’ve had recently, and can look into whether they’ve been mis-sold.
Can I claim on an agreement that’s still active?
Yes, we investigate both active and expired car finance agreements taken out before January 28, 2021.
I bought a used car on finance. Can I claim?
Absolutely. You can claim for finance agreements for used cars as well as new cars.
I have a lease agreement for my car. Can I claim?
You may well be able to claim in these circumstances. The best advice is to contact us.
Will lenders blacklist me if I make a claim against them?
No, they can’t do this and must treat you fairly even though you’re making a claim against them.
My lender has gone out of business. Can I still make a claim?
Unfortunately not, but you might be able to claim against the company that arranged your finance.
Can I make a claim myself?
Yes, you do not need to use a law firm or claims management company to make a claim; you can do this yourself for free by contacting the car dealership or finance provider and if that is not successful you can complain to the Financial Ombudsman Service.
What is a Personal Contract Purchase (PCP)?
With a PCP financial arrangement, you’ll usually pay a deposit upfront and then a monthly fee for the car for a certain number of years. As the agreement expires, you can either give the car back to the lender or keep the car by paying a lump sum. Alternatively, you can put the value of the car towards a different car with the same dealership.
What is a Hire Purchase (HP)?
This arrangement sees you paying a deposit and then a set amount each month to pay off the loan for the value of the car until it’s all paid off, at which point the car will be yours.
What is commission?
Commission is a fee your finance provider may have paid to a car dealership for selling on their finance agreement to you.
The Financial Conduct Authority revealed that commission was paid on 95% of UK car finance agreements taken out before January 2021. Of these, they estimate that almost half have been mis-sold.
At the time you signed on the dotted line, your provider should have told you the exact amount of commission you were paying. Did they? If they didn’t, you could be entitled to claim.