Services

Have you been mis-sold car finance?

We’ll help you find out

Buying a car is one of the biggest financial outlays most of us will make. And no one likes being deceived or plain ripped off when it comes to money. But according to the FCA, that’s exactly what’s happened to many people who’ve bought a car using PCP, HP or other financial arrangements.

Whether your agreement is active or has ended, the financial mis-selling experts here at Chelford Law can help you reclaim hidden charges you’ve paid, and get you compensation.

How much could you be owed?

On average, the compensation that’s paid out per mis-sold car finance claim is over £1,000 and, in some cases, significantly more, depending on:

The size of your loan
The length of your agreement
The difference between the interest rate you were quoted and the rate you should have paid
The commission you’re paying – and whether you’ve been made aware of it

Who can make a motor finance claim?

Maybe you’ve seen the ads or know someone who’s made a motor finance claim and are thinking will I qualify for compensation?

There’s only one way to find out and that’s ask our legal claims team.

The Chelford Law team will examine your car finance contract with a fine tooth comb to discover any hidden charges you’ve been paying.

If we discover any, we’ll help you recover what you’re owed and secure compensation. But before you contact us, check to see if you qualify to make a claim:

You took out an HP or PCP contract for a new or used car, van or motorbike
You entered into a finance agreement before 28 January 2021
Your lender and broker had a commission arrangement you didn’t know about
You weren’t made aware of your finance options
Interest rates and contract terms weren’t fully explained to you

What happens next?

If you think you’ve got grounds for a claim, contact us. From the information you give us, we’ll be able to assess if you have a case. Factors we’ll consider will include:

Whether you received all the information you needed from your car finance provider
If you were misled about the terms and nature of your agreement
The quality of the advice you were given
How aware you were made of any commission and interest you’d be paying as part of the agreement
Whether an affordability check was carried out
If there was a failure to disclose information that prevented you from making an informed decision about the value for money of the contract
If the contract was sensible to enter into

How long will it take?

We approach claims on a case by case basis, so there isn’t a set time. Much depends on whether your car dealer or credit provider holds their hands up and admits responsibility. In such cases, claims can usually be sorted within a few months. If there’s a dispute, claims will take longer to settle.

No Compensation, no charge

If we take on your case and can’t get you compensation, you won’t pay us anything. If your claim is successful, we’ll take a pre-agreed percentage of your payout