Bought a car on finance? You could be owed £1,000s in mis-sold PCP or hidden commissions

A recent Financial Conduct Authority (FCA) investigation discovered widespread evidence of mis-selling on all types of UK car finance agreements.

If you bought a car on finance, after 2008, you could be owed £1,000s in compensation.

The average successful PCP finance claim is between £1,500 and £3,000, but some claims can be as high as £10,000.

The amount you receive is based on the amount of hidden commission charged.

Why use Reclaim Legal?

No-win, No-fee Claim

We operate on a no-win no-fee basis, so if your claim isn't successful we won't charge you a penny.

If your claim is successful, we'll charge a percentage of the compensation awarded for our time.

We Manage Your Claim

We'll check for mis-sold car finance and will manage the whole claims process on your behalf.

All we need from you is a few personal details and information about your finance agreement.

Experienced Team

We've been helping people obtain compensation from consumer claims for over 3 years.

During that time we've settled nearly 20,000 claims and recovered around £31 million in payouts from lenders.

£3,000 Avg. Claim

The average successful PCP finance claim is between £1,500 and £3,000, but some claims can be as high as £10,000.

The amount you receive is based on the amount of hidden commission charged.

What is Mis-sold Car Finance?

In March 2019, the findings of an investigation by the Financial Conduct Authority (FCA) uncovered concerning evidence of widespread unclear and excessive car finance costs, affecting millions of UK drivers. It found that over 560,000 consumers were paying more than 50% more on their car finance than they should be.

Even more shocking is the discovery that the secret commission was charged on what is commonly represented to be the most cost-effective ways of buying a car.

Customers' car finance had been mis-sold when entering into agreements for both new and used cars and commercial vehicles. This applied to all types of vehicle financing options such as personal contract hire and hire purchase (HP). Car buyers were collectively paying £300 million more a year than they should have been.

Am I eligible to claim?

There are many factors that could affect eligibility, but broadly speaking, if you were charged over 4.9% APR and the contract wasn't explained clearly to you, or you were given an unaffordable loan, you could be eligible.

We've made the process as simple as possible

Contact us

We need a few personal details and information about your finance agreement to start the process.

We'll check for PCP

We will review your details to see if you're eligible to claim.

If you are, we'll submit a claim with your lender. They'll provide a response to your claim.

Sit back and relax

We manage the whole claims process on your behalf. All you have to do is fill in your details, and we'll take if from there.

Start your claim

About us

Reclaim Legal is a specialist litigation law firm. Its membership is comprised of senior specialists from the financial litigation and mis-selling fields. In particular, the directors include a widely recognised financial litigation barrister.

The team has extensive, industry leading experience in processing and litigating financial claims relating to Unfair Relationships between consumers and lenders, notably Plevin and associated case types.

We will pursue the litigated claims process on your behalf, endeavouring to ensure that you are not only compensated for your PCP claim, but are kept informed throughout the process.

We have a no-win, no-fee policy, so you can be confident that we will endeavour to do all we can to achieve a successful outcome for your claim.

Details of our Terms of Engagement can be found here.

FAQs

Do I qualify for a claim?

Car finance may have been mis-sold to you if you were not fully informed about the level of commission you would be paying throughout the contract, or if the agreement was unaffordable.

Mis-selling of car finance was prevalent, so if you purchased a car on finance on or after 2008, you may be eligible.

How much can I claim?

The amount you'll be able to claim is dependent on how much you borrowed, how much interest you were charged, and the commission model employed. It will most likely be hundreds or thousands of pounds.

Once we complete your eligibility check, we'll be able to advise you on an approximate compensation value.

What are your fees?

We offer a free assessment service, meaning we'll find out if you're eligible to claim for free.

Once we submit your claim, we operate on a no-win no-fee basis, meaning you will not be charged if your claim is unsuccessful. If your claim is successful, we will charge a percentage of the compensation awarded as payment for the time we have spent on your case.

Can I claim myself?

You always have the option to claim yourself but the claims process can be lengthy if you're looking to do it without help. You'll need to gather lots of evidence and present this to the relevant companies.

Using a claims management company or a law firm which is an expert in making consumer claims makes this process far simpler as they do all the work on your behalf.

What is the process?

After you provide us with details for any vehicles you had on finance, we'll conduct a PCP car finance check.

Once we submit a claim to your lender, they have eight weeks to settle your claim. If they don't we may go the Financial Ombudsman on your behalf, and then wait for their verdict.

How can I speed up the process?

If you can locate any paperwork for vehicles bought on finance, this will help us to shorten the assessment process.

Whilst useful, this is not a requirement, as we can request this information from the dealership or finance provider.