What is a Scam and how to prevent it?
What Is a Scam and How to Prevent It? In today’s digital world, scams are becoming more common and more
DMJ Legal
March 26, 2025
10:40 am
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- Get expert PCP and HP claims advice
- You could be owed thousands in mis-sold car finance
- Check your eligibility in just sixty seconds
Reclaim your mis-sold car finance
What is a PCP Claim?
PCP claims involve compensation for mis-sold car finance plans. If the terms of PCP agreements—such as balloon payments, monthly instalments, and mileage restrictions—were not fully explained or were unsuitable, consumers can seek redress. Often, these car finance claims arise from financial providers not adequately assessing the customer’s ability to manage payments. Complaints can be filed through claims management services or directly with the provider, with the option to approach the Financial Ombudsman if necessary.
What Happened?
In January 2021, the regulator the Financial Conduct Authority (FCA) banned 'discretionary commission arrangements' (DCAs). This stopped lenders allowing brokers (including car dealers) to increase interest rates on car finance, so that they'd be bunged more commission (even though they did no work). It's an unfair practice, as consumers weren't told, and many – thinking it a fixed price – didn't negotiate.
What Happened?
In January 2021, the regulator the Financial Conduct Authority (FCA) banned 'discretionary commission arrangements' (DCAs). This stopped lenders allowing brokers (including car dealers) to increase interest rates on car finance, so that they'd be bunged more commission (even though they did no work). It's an unfair practice, as consumers weren't told, and many – thinking it a fixed price – didn't negotiate.
What Happened?
In January 2021, the regulator the Financial Conduct Authority (FCA) banned 'discretionary commission arrangements' (DCAs). This stopped lenders allowing brokers (including car dealers) to increase interest rates on car finance, so that they'd be bunged more commission (even though they did no work). It's an unfair practice, as consumers weren't told, and many – thinking it a fixed price – didn't negotiate.
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Am I eligible for a refund?
Have you signed a PCP or HP agreement between 2007 and 2021? If you have, you could be eligible to make a car finance claim and receive compensation.
Hidden “discretionary commission arrangements” were part of around 40% of car finance deals before January 2021. Lenders allowed brokers (including car dealers) to increase interest rates so that they could earn a higher commission. If you signed one of these car finance agreements, you might have overpaid without knowing. With the Financial Conduct Authority (FCA) investigating after the ban of these arrangements, you could be due a refund of thousands of pounds.
You have nothing to lose from making a claim if you believe you’re eligible. You can’t be blacklisted or receive a different service if you make a complaint. So, if you took out a PCP car finance agreement before 28 January 2021, making a claim could get you a great result
You bought a car on PCP or HP finance between 2007 and 2021
Did you buy a car on PCP (Personal Contract Purchase) or HP (Hire Purchase) finance within the last 10 years? If you did, you’re a good candidate for compensation. You may have been mis-sold this type of car financing, and you could claim some or all of your money back.
You bought a car on PCP or HP finance between 2007 and 2021
Did you buy a car on PCP (Personal Contract Purchase) or HP (Hire Purchase) finance within the last 10 years? If you did, you’re a good candidate for compensation. You may have been mis-sold this type of car financing, and you could claim some or all of your money back.
You bought a car on PCP or HP finance between 2007 and 2021
Did you buy a car on PCP (Personal Contract Purchase) or HP (Hire Purchase) finance within the last 10 years? If you did, you’re a good candidate for compensation. You may have been mis-sold this type of car financing, and you could claim some or all of your money back.
You bought a car on PCP or HP finance between 2007 and 2021
Did you buy a car on PCP (Personal Contract Purchase) or HP (Hire Purchase) finance within the last 10 years? If you did, you’re a good candidate for compensation. You may have been mis-sold this type of car financing, and you could claim some or all of your money back.
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