Start Your FREE Claim Today!

Apply Online Now...

* Required


Mis-sold Car Finance

Have you bought a new car on a Personal Contract Plan (PCP) from a dealership?  If so, you could have been mis-sold your car loan.

Car owners who purchased their car using this type of finance deal from a dealership are being warned they might have fallen victim to a new type of mis-selling scandal.

This relates to car finance known as Personal Contract Plans (PCP) and thousands of people could be effected by this as it is one of the most popular ways to finance a new car.

The National Association of Commercial Finance Brokers (NACFB) says that the complex nature of PCPs is being exploited by dealers to convince drivers they are getting a better deal, or that the PCP deal on offer is a more economical alternative to traditional hire-purchase (HP) arrangements.  A PCP is a bit like a personal loan that typically runs for between two and four years. But the size of the loan is equal to the expected amount of depreciation in the car over the length of the deal. 

PCP's have become popular as they seem to offer the car buyer with a cheaper way to buy a car, but is this actually true?  The NACFB say buyers can end up paying much more interest than on hire-purchase deals – even if the APR (annual percentage rate) appears to be the same. 

This is due to the fact that part of the PCP deal relates to the balloon payment and is effectively an interest-only loan, which is not paid down during the term of the deal.  As a result, interest charges mount up more quickly, and anyone who uses PCP and then decides to buy the car outright will face a much higher interest bill than if they had gone down the hire-purchase route.  The NACFB believes that some dealerships do not always make this clear when promoting PCP's over traditional hire purchase agreements, and this could potentially provide a basis for mis-selling claims.  

Claims2gain are keeping a very close eye on this matter and if the FCA rule that a mis-selling case has been proven we will be one of the first companies in the UK to help our customers claim back what is rightfully theirs. 

If you think you may have been mis-sold a car loan then please register your details and we will be back in touch if we think we can help you with your claim.

Call our claims experts now on - 0800 138 8687

Read more information here:

Contact Us Today

We look forward to assisting you with your mis-sold car finance enquiries. If you have any questions please call us today on: 0800 138 8200 or from a mobile call: 01942 238 214

Our no win no fee promise **

  1. We will never ask for any money from you to start your claim. We take our fee's from the conclusion of your successful claim no matter how long or complicated a case it is.
  2. We do everything for you, all you need to do is speak to us and go through any information you have, we will then take care of the rest for you.
  3. Once we have been successful with your claim you get paid before we take our fee.

Why choose Claims2gain

  1. We do everything for you, its easy.
  2. We complete most of the complicated and lengthy paperwork on your behalf.
  3. Millions of £'s reclaimed for our customers already.
  4. Most of our claims are completed and settled within weeks.
  5. Our no win no fee promise.**
  6. You can talk to us any time you want and we provide you with your own dedicated claims handler.
  7. Over 40 Years experience in the financial marketplace.
  8. Read what our customers say about us on our testimonial page, they speak for themselves.

** Our standard fees are 30% + vat of your total claim. If you cancel outside of the 14 days cooling off period, we reserve the right to charge a cancellation fee based on the work completed to the day of cancellation charged at £60+vat per hour to a maximum of £360+vat.