Had a car on finance before 2024?
You could be owed compensation
And you get to keep your car!
You could be owed an average of £829* per agreement for mis sold car finance
Just 3 Steps to More Justice
Follow These three simple steps to start your claim.
Fill in your details
Find your agreements
Start your claim
How Do You Know If Your PCP Was Mis-Sold?
If any of the following apply to you, you may be entitled to compensation from a PCP claim:
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You were not informed about the existence of a sales commission.
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The commission was disclosed, but the amount was not made clear.
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You paid a high interest rate that may have been influenced by the commission.
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You took out a PCP finance agreement at any point before 2024.
Personal Contract Purchase (PCP) is a type of car finance that allows you to spread payments over a fixed term, typically two to three years.
Unlike a traditional loan, you're not repaying the full value of the vehicle — unless you choose to make a final "balloon payment" at the end of the agreement.
PCP agreements generally consist of three key parts: an upfront deposit, monthly repayments, and a final optional payment if you decide to keep the car at the end of the term.
Providing as much detail as possible about your finance agreement can help speed up the claims process.
Key information such as the lender's name, car make/model, agreement date, and any documents or emails you still have can help the finance provider locate your records faster.
This also helps reduce the chance of delays caused by follow-up requests for more information.
PCP finance is commonly offered by dealerships as it allows customers to drive a new car with lower monthly payments compared to other types of finance.
This structure encourages repeat purchases and upgrades every few years.
According to the Finance & Leasing Association, by 2014, around three-quarters of new car purchases were made using PCP — making it one of the most widely used car finance products in the UK at the time.
Car finance companies are legally required to keep customer records for at least six years.
Even if you no longer have the original documents, your claim may still be investigated as long as the finance provider can locate your agreement using the details you supply.
Yes — you may still be able to make a claim even if your PCP agreement is over six years old and you no longer have the documents.
Under UK financial complaint rules, you generally have:
- Six years from the agreement date, or
- Three years from the point you became aware of a potential issue — whichever is later.
This means older agreements (even from 2024) could still be eligible if you only recently discovered the possibility of mis-selling.
Many consumers believed PCP finance was simply a way to buy a car — but in reality, it's a form of credit regulated by the Financial Conduct Authority.
For years, limited attention was given to how commissions were arranged between lenders and car dealers.
Recently, the FCA began investigating concerns that some customers were charged higher interest rates due to undisclosed commission structures.
These issues are now under greater scrutiny, and many customers are only just learning they may have been affected.
Fees & Charges
PCP Expert will act on a 'NO WIN NO FEE' basis, and there are no administration charges or hidden fees payable. Our charging rates are set in bands depending upon the amount of redress or refund you receive. The fees shown are exclusive of VAT and are subject to VAT at the prevailing rate.
| Band | Redress (£) | Received % Fee | Maximum Fee |
|---|---|---|---|
| A | 1–1,499 | 30.00% | £420 |
| B | 1,500–9,999 | 28.00% | £2,500 |
| C | 10,000–24,999 | 25.00% | £5,000 |
| D | 25,000–49,999 | 20.00% | £7,500 |
| E | 50,000+ | 15.00% | £10,000 |
These fees are in line with the FCA guidelines on compensation refunds of up to £49,999.
Cancelling this agreement. You have a 14-day cooling off period which starts from the date you sign/e-sign the Letter of Authority in which you can cancel your contract without charge. Please see your terms and conditions for more detail.
To read more information on the facts referenced on our website, you can visit this article on the FCA's website .
PCP Expert is a trading name of Benson Goldstein Ltd, a company registered in England and Wales (company number 14417365) which is authorised and regulated by the Solicitors Regulation Authority under SRA No. 8003245. Registered office at 3rd Floor, 86-90 Paul Street, London EC2A 4NE.
You can make a complaint yourself, free of charge, directly to your lender and/or the Financial Ombudsman Service. The Financial Conduct Authority ('FCA') have published a consultation paper which closed on 12/12/25, where they are proposing a free compensation scheme, to launch in February/March 2026. The FCA estimate eligible consumers will receive an average of £829 per agreement (Para 1.30 CP25/27 Motor Finance Consumer Redress Scheme).
*The Financial Conduct Authority (FCA) is likely introducing in 2026 an industry wide Consumer Redress Scheme, where it has indicated that redress (per finance agreement) may be on average £829 per finance agreement, with the total estimated amount to be paid to consumers being £8.2b.