Guide 9 April 2026 |  | Shannon Smith O'Connell |
Understanding the Timeline for PCP Claims in 2026
Understanding the timeline for PCP claims is essential in 2026 as the FCA car finance redress scheme moves into action. If you are making a claim for mis-sold car finance, timelines now depend on when you complain and which scheme your agreement falls under. This guide explains how long a PCP claim takes, how long refunds take, and what to expect from payouts in 2026.
Guide 8 April 2026 |  | Chris Roy |
Car Finance Mis-Selling in 2026: Your Complete Guide to FCA Redress, PS26/3 and Consumer Rights
Car finance mis-selling affects millions of UK drivers who took out PCP or hire purchase agreements between 2007 and 2024. Under the FCA’s PS26/3 redress scheme, eligible consumers could receive an average of £829 in compensation. This guide explains what mis-sold car finance is, who can claim, how payouts in 2026 will work, and the steps you can take to secure a car finance refund.
News 8 April 2026 |  | Andrew Franks |
FirstRand to exit UK motor finance as FCA compensation scheme deepens industry crisis
FirstRand will exit the UK motor finance market after raising provisions to £750m amid the ongoing car finance scandal. The FCA car finance scheme has triggered millions of car finance claims and PCP claims linked to mis-sold car finance, with payouts 2026 expected as compensation costs across the industry reach billions.
News 7 April 2026 | | Andrew Franks |
Regulator’s car finance compensation plan faces legal scrutiny
The FCA car finance compensation scheme aims to address mis-sold car finance and undisclosed commissions, but legal experts warn it may exceed regulatory powers. Millions of car finance claims and PCP claims could lead to payouts in 2026, though challenges may delay refunds and reshape the outcome of the UK car finance scandal.
| | Chris Roy |
Latest Updates on Car Finance Claims in the UK (2026)
The FCA has confirmed a £7.5bn car finance compensation scheme covering agreements from 2007 to 2024. Millions of drivers may be eligible for a car finance refund due to undisclosed commission or unfair pricing. Payouts are expected to begin in 2026, with most claims settled by 2027. If your lender does not contact you, you must submit a car finance claim by 31 August 2027 to be included. This guide explains eligibility, how compensation is calculated, key timelines, and what you should do next.
News 6 April 2026 | | Andrew Franks |
Drivers urged to act as FCA car finance compensation scheme begins
Millions of UK drivers are being urged to act as the FCA car finance compensation scheme begins, with £7.5bn set aside for mis-sold car finance claims. The scheme covers agreements from 2007 to 2024, including PCP claims, with average payouts of £829. Consumers can submit a car finance claim now, with payouts 2026 expected and a final deadline of 31 August 2027.
| | Andrew Franks |
Car Finance Scandal Explained in 2026
The car finance scandal affects millions of UK drivers who may have been overcharged due to undisclosed commission and unfair lending practices. In March 2026, the FCA confirmed a formal redress scheme expected to return £7.5 billion in car finance compensation. This guide explains who may be eligible, how car finance claims and PCP claims work, what payouts could look like, and what steps to take next.
News 2 April 2026 | | Andrew Franks |
Two routes open for millions as FCA launches car finance compensation scheme
Millions of UK drivers can now claim car finance compensation after the FCA launched its redress scheme addressing the car finance scandal. Around 12 million motorists may be eligible for payouts 2026, with average refunds of £829. Consumers can receive a car finance refund automatically or pursue car finance claims, including PCP claims and PCP refund cases, before the claims deadline.
Guide 1 April 2026 | | Chris Roy |
FCA Car Finance Redress Scheme: Claims, Compensation, Payouts 2026 and Deadlines Explained
The FCA car finance compensation scheme covers around 12.1 million agreements made between 2007 and 2024. The regulator expects around £7.5 billion to be paid in compensation, with an average payout of about £830 per agreement. Payouts are expected to begin in 2026, and lenders will contact eligible customers by late 2026 or early 2027. The final deadline to submit a car finance claim is 31 August 2027, with most claims expected to be resolved by January 2028.
Guide 31 March 2026 | | Shannon Smith O'Connell |
FCA PS26/3 Explained: What the Car Finance Compensation Scheme Means for Your Claim
FCA PS26/3 introduces a UK wide car finance compensation scheme for mis-sold car finance, including PCP claims and hire purchase agreements. The FCA estimates around £7.5 billion will be paid to consumers, with an average payout of £829 per agreement. Claims relate to undisclosed commission and unfair pricing. Payouts are expected across 2026 and 2027, and the final deadline to make a car finance claim is 31 August 2027.