If you’ve taken out a Personal Contract Purchase (PCP) finance agreement, you might be owed money. Many car finance deals included hidden commission fees that were not disclosed to borrowers. A recent surge in complaints has led to thousands of motorists successfully reclaiming unfair charges.
What is a PCP Refund Claim?
A PCP refund claim is a legal process where you seek compensation for mis-sold car finance. Many lenders failed to inform customers about commissions paid to car dealers, which led to higher interest rates. If your agreement included an undisclosed commission, you could claim back the extra costs plus interest.
How Does the Free PCP Claims Calculator Work?
Our free PCP claims calculator provides an instant refund estimate based on your agreement details. By entering key information, such as loan amount and monthly payments, you can see if you’re eligible for compensation. This tool helps you understand your potential claim value before taking legal action.
Why Are PCP Refund Claims on the Rise?
The Financial Conduct Authority (FCA) launched an investigation into hidden commissions in the car finance industry. Their findings revealed that many lenders and dealers misled consumers by failing to disclose extra charges. As a result, thousands of claims have been filed, with some refunds exceeding £5,000.
Who Can Use the PCP Claims Calculator?
Anyone who took out a PCP agreement within the last ten years can check their eligibility. If you believe your lender didn’t fully disclose the terms of your finance deal, you might have a valid claim. Even if you’ve completed payments or refinanced, you could still be entitled to a refund.
Step-by-Step Guide to Using the Calculator
- Enter details of your car finance agreement, including loan amount and interest rate.
- The calculator will estimate how much you could claim based on FCA guidelines.
- If eligible, you can start your claim immediately with expert legal support.
How Much Could You Get Back?
The average PCP refund varies depending on the amount borrowed and the undisclosed commission. Some customers have reclaimed thousands, while others received smaller amounts plus interest. A financial expert can review your case and help maximise your compensation.
What Should You Do Next?
If you think you’ve mis-sold a PCP deal, check your eligibility today. Using our free PCP claims calculator is the first step towards getting your money back. With billions at stake, don’t miss the chance to reclaim what’s rightfully yours.
Sources:
- Financial Conduct Authority (FCA) Report on Car Finance Mis-selling (2023)
- UK Financial Ombudsman Data on PCP Refund Cases (2024)
- BBC News: “Drivers Owed Millions in PCP Refunds” (2024)
