How it works

Destination? Compensation

If you've been mis-sold during a PCP car finance agreement, compensation could be just around the corner. 

Getting the right deal

The average compensation claim nets around £1,600. But every agreement is different, and pay-outs can go up and down — even rising beyond £3,000. It all depends on a few factors.

Loan size

The larger the loan the more significant your payments and the higher your potential compensation.

Length of agreement

Longer agreements mean you may have paid more interest than you needed to.

Interest rates

If the rate you were charged is higher than it should’ve been, your compensation could be higher too.

Can I claim?

Get an instant answer about whether you can claim and how much you may be able to claim.

1

Add your personal details like name, date of birth and address.

2

We look for your finance agreements, tell you if you can claim and how much

3

You decide if you would like our partner Bott & Co Solicitors to represent you

What happens next?

From Confusion to conclusion

If you decide that you would like our partner (Bott & Co) to represent you, you must agree and sign their terms and conditions, a confirmation email will be sent once you have done this.

The financial conduct authority is currently looking into mis-sold car finance claims, focusing on getting anyone who’s overpaid their money back.

The investigation is scheduled to finish on 25 September 2024, so to ensure you're in the best position, submit your claim sooner rather than later.

  • Day 1-2

    Our partner, Bott and Co solicitors, will contact your lender by letter to make a claim on your behalf.

  • Day 14

    The lender should reply or at least acknowledge your complaint.

  • Week 8

    Your lender must reply, but can delay as the FCA has allowed firms to pause complaints until 25/09/24.

  • 25 September 2024 

    The FCA releases its findings

No win no Fee this means that a customer will typically pay 40% + VAT of any amount recovered by a panel solicitor although this will be subject to your individual circumstances and the actual fee may be less than this but it will never be more. A cancellation fee may be charged by a third party/panel solicitor if you cancel outside the cooling off period. You do not need to use a claims management company to make a PCP claim you can do this yourself for free by contacting the car dealership or finance provider and if that is not successful you can complain to the Financial Ombudsman Service. We may receive a fee for introducing you to a third party/panel solicitor, this does not affect any compensation you may receive.

questions to ask

Let’s get some answers

Mis-selling isn't just the feeling that you've paid too much — it's about not getting the full picture.
Below are a few quick questions to help you determine if you were mis-led when you agreed to your finance deal.

  • Did you enter into a Personal Contract Purchase (PCP) or Hire Purchase (HP) agreement?

  • Did you take out your finance agreement before 28 January 2021?

  • Were you aware the broker or dealer would receive a commission for arranging your finance?

  • Did you know they had the ability to set or adjust the interest rate on your agreement?

  • Did you go through proper affordability checks?

  • Were the terms of your agreement clearly explained to you?

  • Did you feel pressured to agree on the deal?

  • Were you presented with multiple financial packages?

  • Were all the fees and charges explained to you upfront?

  • Did you think you’d own your car after the PCP agreement?

The FCA's ongoing review underscores a window of opportunity not just for redress but for ensuring fairness in the finance industry.

Martin Lewis, MoneySavingExpert.com

Ready to get started?

Get what you deserve. Claim with Reclaim247.

Reclaim247.co.uk is a trading style of Claimsline Group Ltd, registered in England and Wales, Company registration number 09071409. Registered Office: C/O Burton Varley Ltd, Suite 3, 2nd Floor, Didsbury House, 748 - 754 Wilmslow Road, Manchester, United Kingdom, M20 2DW. VAT registration number 199616255. Registered with the Information Commissioner's Office; registration number ZA059156.

Where the service is offered at No win no Fee this means that a customer will typically pay 40% + VAT of any amount recovered by a panel solicitor although this will be subject to your individual circumstances and the actual fee may be less than this but it will never be more. A cancellation fee may be charged by a third party/panel solicitor if you cancel outside the cooling off period.

You do not need to use a claims management company to make a claim; you can do this yourself for free by contacting the car dealership or finance provider and if that is not successful you can complain to the Financial Ombudsman Service. We may receive a fee for introducing you to a third party/panel solicitor, this does not affect any compensation you may receive.

You can find our terms of use, privacy policy and our cookie policy here. Claimsline Group Ltd is a claims management company. Any solicitor we recommend you to is an independent professional from whom you will receive impartial and confidential advice. You are free to choose another solicitor.

*Average compensation of £1,600 source Bott & co (https://www.bottonline.co.uk/mis-sold-car-finance-pcp-claims) Representing thousands of clients, they have successfully won over 90% of mis-sold car finance claims that have gone to trial since January 2022, with the average pay out over £1,600 in compensation.

**Roughly 90 per cent of new cars and 50% of used cars (https://www.autotrader.co.uk/content/news/mis-sold-car-finance-claims)You can find our terms of use, privacy policy and our cookie policy here.

Claimsline Group Ltd is authorised and regulated by the Financial Conduct Authority (FRN:831196). Claimsline Group is a claims management company and only undertakes marketing activities which comply with Solicitors Regulation Authority Code of Conduct 2011 (in particular, Chapter 8 - Publicity). Regulatory information.