Updated: 14 August 2026

Originally Published: 11 November 2024

Quick Answer

If you took out PSA car finance for personal use between 6 April 2007 and 1 November 2024, your agreement could fall within the scope of the FCA's proposed motor finance compensation scheme.

Not every PSA finance claim or PCP finance claim will qualify, and car finance compensation isn't automatic. However, millions of historic motor finance agreements are being reviewed following concerns about commission arrangements and wider car finance mis-selling practices.

The FCA estimates eligible motorists could receive around £829 on average [1], although every agreement is assessed individually. The implementation of the proposed compensation scheme has been delayed while legal challenges are considered by the Upper Tribunal [2], but motorists can still review their historic agreements and complete a PCP claim check or car finance refund check to understand whether they may fall within the scope of the FCA's review.

PSA Finance Claims at a Glance

• Who may be eligible? Drivers with eligible personal use PSA finance agreements entered into between 6 April 2007 and 1 November 2024.
• Which agreements are included? Eligible PCP car finance, Hire Purchase and other dealership arranged motor finance agreements.
• What is being investigated? Historic commission arrangements and whether customers were given enough information about how their finance agreement was priced.
• Could compensation be available? The FCA estimates eligible motorists could receive around £829 on average, although every agreement is assessed individually.
• Why has the process been delayed? Parts of the FCA's proposed compensation scheme are currently subject to legal challenges before the Upper Tribunal.
• Can I still check my agreement? Yes. You can still identify historic agreements and understand whether they may be relevant to the FCA's review while the legal process continues.
• What is the proposed deadline? The FCA's proposed deadline for eligible car finance claims is 31 August 2027.

Introduction

Many motorists remember buying their Peugeot, Citroën or DS, but far fewer remember the name that appeared on the finance agreement.

For many customers, PSA Finance simply formed part of the dealership experience. The focus was on choosing the right vehicle, agreeing affordable monthly repayments and driving away in the new car. The finance itself often felt routine, with little reason to question how the agreement had been priced or how the lender had been selected.

That's why many drivers are only now revisiting agreements they signed years ago.

The FCA's investigation isn't about whether the vehicle was good value or whether the monthly repayments suited your budget. Instead, it's examining whether some finance agreements were arranged fairly, whether commission influenced the cost of borrowing and whether customers received enough information before signing.

If you're considering a PSA finance mis-sold claim, this guide explains who may be eligible, the different types of mis-sold PCP car finance and commission practices under review, how the latest legal developments affect the proposed compensation scheme and what to expect if you're exploring a PCP compensation claim today.

Who Was PSA Finance?

Many motorists recognise the brands Peugeot, Citroën or DS Automobiles, but fewer remember the finance company behind their agreement.

For years, PSA Finance UK provided dealership arranged finance for vehicles across the former PSA Group. Customers typically discussed the finance with the dealership rather than the lender itself, making the process feel like a natural extension of buying the car.

As a result, many drivers remember the vehicle they purchased but not the organisation that provided the finance.

That isn't unusual, and it doesn't stop you from exploring whether your agreement could be relevant to the FCA's review.

If you no longer remember the name on your finance agreement, historic records can often still be traced using basic personal information, previous addresses and details about the vehicle.

The important question isn't whether you remember the lender. It's whether the agreement falls within the FCA's proposed compensation framework.

Could Your PSA Finance Agreement Be Eligible?

Not every PSA car finance claim or PCP finance claim will result in compensation, but many motorists are unsure whether their agreement is even worth reviewing.

You may wish to explore your options if:

• your PSA car finance was arranged for personal use between 6 April 2007 and 1 November 2024
• you purchased the vehicle through a participating dealership
• your agreement was PCP car finance, Hire Purchase or another eligible motor finance agreement
• you don't remember how the interest rate was determined or whether commission was discussed
• you've since paid off the agreement, settled it early or no longer own the vehicle

Many people assume they can't make a claim because the finance has ended or the vehicle has been sold. Neither of these automatically prevents an agreement from being reviewed.

Similarly, not having the original paperwork doesn't necessarily stop you from carrying out a PCP claim check. Historic agreements can often still be identified using the information available.

Ultimately, eligibility depends on the individual finance agreement and whether the FCA's review identifies evidence that the customer may have experienced a financial disadvantage.

Types of PSA Finance Mis Selling Under Review

The phrase mis-sold PCP car finance is often used to describe a wide range of issues, but not every PSA finance claim involves the same circumstances.

Rather than investigating a single problem, the FCA is reviewing several historic commission and sales practices that may have affected the way finance agreements were arranged.

Understanding these different issues can help explain why compensation outcomes may vary from one agreement to another.

Discretionary commission arrangements

One of the best known issues in the wider car finance scandal involves discretionary commission arrangements, often referred to as DCAs.

Before these arrangements were banned in January 2021 [3], some lenders allowed dealerships to adjust the interest rate offered to customers within an agreed range. In some cases, a higher interest rate resulted in a higher commission payment for the dealership.

Many customers were unaware this flexibility existed and believed the interest rate had been fixed by the lender.

The FCA is reviewing whether these arrangements were explained clearly enough and whether they resulted in customers paying more than they otherwise would have.

Undisclosed commission

Not every commission related claim involves PSA Finance discretionary commission.

The FCA is also examining whether customers received enough information about commission more generally and whether important commercial arrangements were disclosed before the agreement was signed.

For many motorists, the monthly payment was explained clearly, but the way the finance was priced remained largely behind the scenes.

The review considers whether that level of transparency was sufficient for customers to make an informed financial decision.

Restricted finance options

Many customers arranged finance through the dealership without comparing multiple lenders.

That doesn't automatically mean anything was wrong with the agreement. However, the FCA is considering whether customers were given enough information about the finance options available to them and whether any commercial relationships between dealerships and lenders should have been explained more clearly.

The key question isn't whether PSA Finance was offered. It's whether customers had enough information to understand how that recommendation had been reached.

Other historic commission models

The FCA's review extends beyond discretionary commission arrangements.

Following recent court decisions and regulatory developments, the proposed compensation framework also considers other historic commission models that may have affected the fairness of some motor finance agreements.

Exactly how these agreements will be treated remains subject to the outcome of the ongoing legal challenges and Upper Tribunal proceedings, but they form an important part of the wider review across the motor finance industry.

Latest FCA Updates on PSA Finance Claims

The FCA has now published its proposed motor finance compensation scheme [4], providing greater clarity on how eligible agreements could be reviewed. However, the process has been delayed while several legal challenges are considered by the Upper Tribunal [5].

These challenges don't question the FCA's wider investigation into historic motor finance practices. Instead, they relate to aspects of the proposed compensation framework and how it should operate in practice.

The organisations bringing legal challenges include:

• Volkswagen Financial Services
• Mercedes Benz Financial Services
• Crédit Agricole Auto Finance UK
• consumer group Consumer Voice

Until those proceedings have concluded, parts of the FCA's proposed redress scheme remain suspended.

At the time of writing, the Upper Tribunal is expected to hear the case in December 2026 or, if required, February 2027. The final timetable will depend on procedural decisions made before the hearing.

For motorists considering a PSA finance claim or PCP finance claim, the important point is that the legal process has delayed implementation of the compensation scheme rather than bringing it to an end.

If the FCA's proposals are upheld, and there are no further appeals that significantly affect the timetable, compensation is expected to begin during 2027 instead of payouts 2026.

In the meantime, motorists can still identify historic agreements, gather supporting information and complete a PCP claim check to understand whether their agreement may fall within the scope of the FCA's review.

What Does This Mean for Existing PSA Finance Claims?

The pending litigation has inevitably caused confusion and uncertainty for many motorists. If you have already invested time in researching PSA finance PCP claims or have just recently become aware of the FCA's review then you may be questioning whether you should wait to see what the Tribunal decides before taking any further steps.

The current position is that parts of the FCA's proposed compensation scheme are paused while the legal issues are resolved. That means lenders aren't yet implementing every aspect of the proposed redress process.

However, this doesn't mean historic agreements have been excluded from the review.

If your agreement falls within the FCA's eligibility criteria, it may still be relevant once the legal process has concluded. Reviewing your paperwork now or tracing an older agreement can therefore help you understand your position without committing you to any particular course of action.

The most important thing is to recognise that the legal challenges relate to how compensation will be delivered, not whether the wider review into historic commission arrangements is taking place.

How Could a Successful PSA Finance Claim Be Calculated?

One of the questions motorists ask most often is how much a successful PCP compensation claim or PSA finance claim could be worth.

There isn't a standard payment.

The FCA estimates that eligible motorists could receive around £829 on average across all participating lenders. This is only a broad indication rather than a guaranteed amount, and individual outcomes will depend on the specific finance agreement.

When assessing PSA finance compensation, lenders are expected to consider factors such as:

• the amount borrowed
• the interest rate applied
• the length of the agreement
• whether commission affected the cost of borrowing
• the financial impact on the customer

Some motorists refer to the outcome as a PSA finance refund or PCP refund, but the proposed scheme isn't designed to refund every payment made under the agreement.

Instead, its purpose is to correct any financial disadvantage identified during the review.

Because every agreement is assessed individually, two motorists with similar vehicles or similar monthly repayments could still receive different outcomes.

Why PCP Features in So Many PSA Finance Claims

Many vehicles financed through PSA car finance were purchased using PCP car finance, making PCP one of the most common finance products included in today's FCA review.

For many motorists, PCP offered an affordable way to drive a newer vehicle with lower monthly repayments and the flexibility to change cars, return the vehicle or make a final payment at the end of the agreement.

The FCA isn't investigating PCP itself.

Instead, it's reviewing how some PCP finance claims were arranged, including whether commission influenced the overall cost of borrowing and whether customers received enough information before entering into the agreement.

Eligible Hire Purchase agreements may also fall within the scope of the review, so the deciding factor isn't simply the type of finance chosen.

Whether you're researching PCP car claims, considering a PCP compensation claim, or carrying out a PCP claim check, the first step is establishing whether your agreement may be relevant to the FCA's review.

Can't Find Your PSA Finance Agreement?

Many motorists considering a PSA finance claim haven't looked at their finance paperwork for years.

You may remember buying the vehicle, the monthly payments or even the dealership where the agreement was arranged, but not the name of the finance provider or where the documents are now.

That's perfectly normal.

Many eligible agreements were taken out several years ago, and it's common for paperwork to have been misplaced after the finance ended or the vehicle was sold.

Fortunately, you don't need to remember every detail before exploring whether your agreement could be relevant to the FCA's review.

In many cases, it helps to have:

• your full name
• your date of birth
• your current and previous addresses
• your contact details

If you still have them, the following information can also be useful:

• your vehicle registration number
• the approximate date you arranged the finance
• the dealership where you bought the vehicle
• the finance provider, if you remember it

If you no longer have the agreement, older records may still be traced through bank statements, emails, finance paperwork or your credit report.

The aim isn't to recreate every detail from memory. It's simply to identify the agreement and establish whether it may fall within the FCA's proposed compensation framework.

What Is a Car Finance Refund Check?

Many motorists begin with a car finance refund check or PCP claim check because they aren't sure whether their agreement could be affected.

Rather than confirming whether compensation will be paid, a claim check is intended to establish whether your finance agreement may be relevant to the FCA's review.

Depending on the information available, a claim check may help to:

• identify historic finance agreements
• confirm the lender involved
• establish when the agreement was arranged
• determine whether it falls within the FCA's review period
• identify whether further assessment may be appropriate

A PCP claim check doesn't guarantee compensation or prove that an agreement was mis-sold. Instead, it's an opportunity to better understand your finance history before deciding what to do next.

What Are Your Options If You Think Your Agreement May Be Affected?

If you think your agreement may be within the scope of the FCA's review, there are a number of ways you can explore your options.

Contact the lender directly  

Some motorists want to contact the lender who arranged their finance directly.

This means you can speak to the lender yourself and deal with any correspondence during the review process.

Speak to a solicitor  

Some of our customers have sought independent legal advice, particularly where they have questions about their individual circumstances.

A solicitor can explain the legal position and advise on the options available. Costs and funding arrangements will vary from firm to firm.

Use an FCA regulated claims management company

Others choose to work with an FCA regulated claims management company.

A claims management company with finance claims experts may be able to help identify historic agreements, assist with gathering information and communicate with lenders throughout the process.

Whichever route you choose, the FCA's eligibility criteria remain the same.

Should You Wait Before Exploring a PSA Finance Claim?

With the FCA’s proposed compensation scheme on hold pending legal challenges, some motorists are questioning whether it is worth reviewing their agreement now or whether it would be better to wait until the Upper Tribunal proceedings are over.

There is no one-size-fits-all answer.  

Some people will be happier waiting for a little more certainty on the legal position before taking any further steps. Others will want to identify historic agreements now so they are in a better position to understand their financial history once the Tribunal has made its decision.

Performing a PCP claim check and reviewing your agreement does not commit you to making a claim. Nor does it guarantee that you will receive any compensation. What it will do, however, is give you a much clearer idea of whether your agreement is likely to be relevant to the FCA’s review while the legal process plays out.

Key Things to Remember

If you're considering a claim, these are the main points to keep in mind when checking PSA finance claim online:

• Personal use PSA car finance agreements entered into between 6 April 2007 and 1 November 2024 may fall within the FCA's proposed compensation framework.
• The FCA is reviewing historic commission arrangements and other forms of mis-sold car finance, rather than the vehicles themselves.
• Eligible motorists could receive around £829 on average, although every agreement is assessed individually.
• Ongoing legal challenges have delayed the implementation of parts of the proposed compensation scheme while the Upper Tribunal considers the issues.
• Even if you've paid off your finance, sold the vehicle or misplaced the paperwork, you may still be able to explore your options by identifying your historic agreement.

Frequently Asked Questions

Can I make a PSA finance claim if I no longer own the vehicle?

Potentially, yes. The FCA's review focuses on how the finance agreement was arranged rather than whether you still own the vehicle. Many historic agreements being reviewed relate to vehicles that have since been sold, traded in or returned.

Does every PCP agreement qualify for compensation?

No.

Having PCP car finance doesn't automatically mean you'll receive compensation.

Every PCP finance claim is assessed individually, and the outcome depends on the circumstances of the agreement and the FCA's proposed framework.

Can I still make a claim if my finance agreement has ended?

Yes, potentially.

Many motorists exploring PCP car claims finished paying their agreement years ago. An agreement doesn't usually need to be active for it to be considered under the FCA's review.

What if I don't know whether commission was involved?

You don't need to determine this yourself.

One purpose of the FCA's review is to examine how individual finance agreements were structured, including whether commission arrangements may have affected the overall cost of borrowing.

Will I automatically receive a PSA finance refund?

Not necessarily.

If the FCA's proposed compensation scheme proceeds following the legal challenges, eligible agreements will still need to be assessed individually. Not every agreement will result in a PSP compensation claim or PCP refund being paid.

Looking Back at Your PSA Finance Agreement

For many motorists, arranging finance through a dealership felt like just another step in buying a new car.

The paperwork was completed, the monthly payments were agreed and attention quickly shifted to enjoying the vehicle rather than thinking about how the finance had been structured.

The FCA's review has encouraged many customers to revisit those agreements with fresh perspective.

Rather than asking whether buying the vehicle was the right decision, it's asking whether the finance agreement was arranged fairly, whether commission was explained clearly and whether customers had enough information to make an informed decision.

While the legal challenges mean the compensation process is taking longer than originally expected, you don't need to wait before understanding your finance history. Reviewing an older agreement today can help you make informed decisions as the FCA's review continues to develop.

If you'd like to learn more about the wider issues, our guides to the car finance scandal, discretionary commission arrangements, undisclosed commissions and the latest FCA car finance updates explain how the investigation has evolved and what it could mean for motorists across the UK.

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References:

1. The FCA estimates eligible motorists could receive around £829 on average - https://www.fca.org.uk/publication/policy/ps26-3.pdf
2. The implementation of the proposed compensation scheme has been delayed while legal challenges are considered by the Upper Tribunal - https://www.fca.org.uk/news/statements/motor-finance-scheme-partially-suspended
3. discretionary commission arrangements were banned in January 2021 - https://www.fca.org.uk/news/press-releases/fca-ban-motor-finance-discretionary-commission-models
4. The FCA has now published its proposed motor finance compensation scheme - https://www.fca.org.uk/publications/policy-statements/ps26-3-motor-finance-consumer-redress-scheme
5. several legal challenges are considered by the Upper Tribunal - https://consumervoice.uk/cars/fca-car-finance-compensation-challenge/