FAQ

Was my car finance agreement mis sold?

We have found the main issues around mis sold car finance are:

  • Undisclosed commissions

  • High Interest rates

  • Issues with the balloon payment

  • Unable to terminate the agreement due to negative equity

  • Damage charges

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Some people feel that how the car finance especially PCP finance works was not explained and others are saying they should never have been able to obtain the finance initially.

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What types of car finance can I claim?

You can claim the following types of car finance:

  • PCP - Personal Contract Purchase

  • HP - Hire Purchase

What is being done to prevent car finance mis selling?

The FCA estimate that mis-sold PCP car deals are costing consumers £300 million annually. They have published a public report outlining the findings of their investigation and will be bringing it to the attention of relevant trade bodies so industry-wide action can be taken.


They'll also be following up with individual firms who didn't meet FCA standards when investigated. They "may consider supervisory or enforcement action" where necessary to make sure that dealers follow through with changes to their practices.


One of the FCA's biggest concerns is the commission arrangements that many retailers have. To combat this, they're working on policy changes that would affect commission structures and ensure that customers are better informed before signing an agreement. The FCA will be reviewing PCP commission models and are currently considering limiting or banning them in order to prevent further mis-selling.

What if I don't have my PCP agreement?

Don't worry. To get a copy of your finance agreement is very easy. Simply call the finance company and ask for a copy of your signed agreements. They will usually ask for some personal details to verify you say who you are such as your date of birth, address where the contract was taken out, vehicle registration etc.  

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Here is a list of useful contact numbers for popular lenders, don't worry if your lender isn't listed here simply carry out a Google search for your lender and you'll be able to get a telephone number. 

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1st Stop Car Finance - 01914 921 919

Advantage Finance - 01472 233 200    
ALD Automotive - 08000 323 277    
Aldermore - 01189 556 675    
Autolend - 02033 221 916    

Audi - 0800 912 3564

AutoMoney - 0800 197 9090

Barclays Partner Finance - 0800 152 2888    
Billing Finance - 01604 402 204    

Black Horse - 03448248888
Blue Motor Finance - 0203 005 9330
Burnley Savings and Loans - 01282 454 744    

BMW - 0370 5050 0150
Close Brothers Motor Finance - 0333 321 6060  
Close Brothers Asset Finance - 01482 359 452    
Corporate Asset Solutions Limited - 02380 766 467    
Hampshire Bank - 0207 862 6262    
Hartwell Finance - 01865 388 388    
Hitachi Personal Finance - 0344 375 5500  
Investec - 0330 123 9614 (Opt.5) 
JBR Capital - 0203 282 5411    
LCC Capital - 01798 667 677    
Lloyds Flex Car Finance - 0330 123 4715

London & Surrey Motor Finance - 01737 553 311    
Mallard - 01206 243 100    
Mann Island - 0370 600 6668    
Marsh Finance - 01706 648 882    

Mercedes-Benz Finance - 0370 847 0700
Moneybarn - 0330 550 1230    
Moneyway - 0345 111 7125    
Motonovo Finance - 0333 200 0030    
Novuna Vehicle Solutions - 03444 632 900    
Ogilvie Fleet - 0330 333 5678    

Oodle Car Finance - 0800 023 4567
Oplo - 0191 492 1919
Paragon - 0345 149 7770
PCF - 0207 222 2426
Praetura    03301 244 203    

Porshe Financial Services - 03457 911 911
Quantum Funding Limited - 0330 123 2798 
Ratesetter - 0203 142 6226
Santander Consumer Finance - 0800 085 1759
Shawbrook - 0345 604 0970
Specialist Motor Finance - 01244 200 746
United Trust Bank - 0207 190 5555

V12 Vehicle Finance - 0330 303 0568

VW - 0800 912 3564
Zopa - 0207 580 6060

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If you have any questions please feel free to email info@pcpclaimline.co.uk 

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