DMJ Legal

  • 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.

Latest Articles

Scroll to Top