13 Sep PCP Claims: You Could Be Due Thousands
Posted at 19:06h
in PCP Claims
If you’ve ever taken out a PCP or Hire Purchase agreement on a car, you could be due thousands of pounds in compensation. That’s because many PCP and HP finance agreements were mis-sold, with people being charged hidden commission and interest rates. At Mis Sold Car Finance, we’re experts in helping people get the compensation they’re entitled to. We work on a no win no fee basis, so you won’t have to pay us anything unless we win your case.
So if you think you may have been mis-sold a PCP or Hire Purchase deal, contact us today for free initial advice or make an enquiry by clicking here. We can help you claim compensation and get your money back.
FCA’s report on Motor Finance
The Financial Conduct Authority (FCA) conducted a report on motor finance, highlighting the potential risks posed by personal contract purchase (PCP) agreements. PCP agreements have become increasingly popular in recent years, as they offer consumers the opportunity to spread the cost of a new car over a longer period of time.
However, the report warned that PCP agreements can be “complex and confusing”, and that some consumers may end up paying more than they expected. In particular, the report warned that some consumers may be unaware of the “balloon payment” that is required at the end of a PCP deal. This can often result in them being unable to afford to keep the car, leading to it being repossessed.
However, the report warned that PCP agreements can be “complex and confusing”, and that some consumers may end up paying more than they expected. In particular, the report warned that some consumers may be unaware of the “balloon payment” that is required at the end of a PCP deal. This can often result in them being unable to afford to keep the car, leading to it being repossessed.
You can find a full copy of the FCA’s report by clicking here.
Areas of Mis-Selling
When it comes to buying a car on finance, it’s important to be aware of what you are signing up to. If you think you may have been mis sold car finance, here are some of the most common areas of mis-selling to look out for by car dealers:
Did the salesman pressure you into signing the contract?
Were there any hidden costs or fees associated with the purchase of your car? Did they disclose the amount of commission?
Did the dealer promise you a certain interest rate/higher interest charges, but then change it when the contract was signed?
Were you given a full copy of the contract/agreement in advance allowing you to read before signing?
Did the dealer explain all of the terms and conditions of the contract?
If any of these things occurred, then you may have been mis sold PCP car finance. Contact us today to find out how we can help you claim compensation. We offer free initial advice, and work on a no win no fee basis, so you have nothing to lose.
What is No-win No-fee?
No win no fee is a term used to describe a type of financial arrangement between a claimant and their lawyer. Essentially, if the case is unsuccessful, the claimant does not have to pay any legal fees. This arrangement is also sometimes referred to as a ‘no win no cost’ or ‘no risk’ agreement. No win no fee agreements first became popular in the UK in the 1990s, as a way of making legal action more accessible to those on low incomes.
Mis Sold Car Finance deal with the industries leading law firms that specialise in no win no fee cases. We have helped thousands of people claim compensation for PCP claims, and we can do the same for you. Contact us today to find out more about our no win no fee services.
Why you should use a law firm
PCP claims can be a very complex and time-consuming process, so it is important to ensure that you have an experienced solicitor on your side as opposed to a claims management company. The solicitors that we work with are authorised and regulated by the solicitors regulation authority.
PCP claims involve a lot of paperwork and can be very confusing, so having someone who knows what they are doing can make all the difference. An experienced solicitor will also be able to deal with any problems that arise during the claim process, such as delays or complications.
Additionally, they will be able to offer guidance and support throughout the entire process, making sure that you receive the best possible outcome. If you are considering making a PCP claim, then make sure to get in touch with an experienced solicitor who can help you every step of the way. You can contact Mis Sold Car Finance on 0333 344 8970 and we will contact you to discuss your claim free of charge. Make sure you note you finance broker registration number and registered office when you contact them.
