Have you been Mis-Sold Car Finance?

Have you purchased a new or used car, van or commercial vehicle on finance prior to 2021? If the answer is yes, then you could be the victim of mis-sold car finance. The Financial Conduct Authority (FCA) has discovered widespread evidence of mis-selling on all types of UK car finance agreements. If you have been misled by a dealer, broker or salesperson then you could be entitled to a claim for compensation.

Seeking compensation from your car finance lender can be challenging and stressful. However, you’re not alone at Paul Crowley & Co Solicitors, our experienced team specialise in successfully handling mis-sold car finance claims and are here to assist and guide you through the process.

What is mis-sold car finance?

Mis-selling occurs when the person buying the car has not been presented with all the necessary information to decide whether the contract represented value for money or was financially viable.

Can I claim for mis-sold car finance?

The answer is yes you can, if you have unknowingly been mis-sold car finance, Paul Crowley & Co solicitors are here to help you claim back the money that is rightfully yours.

But first, let’s explain how the mis-selling of car finance happens so you can identify if you have been mis-sold.

What are the mis-sold car finance options?

There are three popular types of car finance options any of which could have been used to mis-sell a car by a dealer or credit broker to finance the purchase of a car.

Hire Purchase (HP)

Hire Purchase is where the customer puts down an initial deposit on the vehicle, then repays the remaining amount including interest, via monthly payments over a set amount of time.

Personal Car Loan (PCL)

A personal car loan (also known as an automobile loan, or auto loan) is a sum of money a consumer borrows in order to purchase a car.

Personal Contract Purchase (PCP)

PCPs have proved very popular with car finance credit brokers and car buyers in recent years. A PCP is where the car dealership estimates what the value of the car will be worth at the end of the contract, which is usually three or four years.

Did the lender carry out the necessary financial background checks?

The lender has an obligation to make the necessary financial background checks on the purchaser to ensure the terms of the car finance are right for them and that they can afford the loan.

This includes checking your expenses, income, and financial records. If this did not happen, then you have been mis-sold your car finance and Paul Crowley & Co are here to help you to recover any money you may have lost.

How do I know if I have been mis-sold car finance?

An example of how you could possibly have been misled was if the lender or the salesperson only discussed with you the deposit and monthly payments.

How do I know if my car finance company was suspected of mis-selling?

A number of lenders are suspected of mis-selling car finance. If you have taken car finance out with any of the financial companies listed below, then there is a possibility you may not have been presented with all the necessary information and you could be entitled to a no win no fee compensation claim:

• Audi Financial Services
• CA Auto Finance UK Ltd
• Close Motor Finance
• Clydesdale Financial Services
• FGA Capital UK Ltd
• Fiat Financial Services
• Ford Credit
• GMAC
• Hyundai Capital UK Ltd
• Jaguar Finance
• Kia Finance
• Land Rover Finance
• Mini Financial Services
• NIIB Group Ltd
• Oplo
• RCI Financial Services Limited
• SEAT Finance
• Secure Trust Bank

If you think you have been mis-sold finance, then please contact our Mis-sold Car Finance team and let us claim back what is rightfully yours.

What if the credit broker fails to disclose any fee or commission?

If the credit broker, prior to the car buyer signing the car finance agreement fails to disclose, any commission, fee or other remuneration, which could adversely affect the car buyer’s purchasing decision, then on the grounds of non-disclosure, an act of car finance mis-selling has been committed and Paul Crowley & Co can help you to file a claim for compensation.

Areas of mis-sold car finance that you can claim back against

To help identify if your car finance was mis-sold, the team of experienced claims handlers at Paul Crowley & Co have provided the following list.

Situations that are typically associated with car finance mis-selling that we can claim back against:

• Finding it difficult to afford your monthly payments
• Your car dealership did not properly outline the charges on interest
• You were not given a full range of options to choose from despite suitability and affordability
• You felt pressured to buy due to the hard-sell tactics of the salesman
• You were not informed of excess mileage charges
• Your car dealership failed to tell you about who the actual owner of the vehicle is
• Your car dealer did not adequately explain the financial agreement to you
• You were given misleading advice about the terms of your payment or finance agreement
• Your final payment is much more than you expect
• You were given a vague and unclear explanation about who would be financially responsible for vehicle repairs

If any of the above situations occurred when you purchased your car on finance, then Paul Crowley & Co can help you to file for compensation.

“Our claims experts are on your side, you will be speaking directly to a mis-sold car finance specialist, who will discuss your NO WIN NO FEE compensation claim and answer any questions you may have. Our mis-sold car finance team are successfully helping customers, who have been mis-sold car finance to win back thousands of pounds in compensation”.

Julie Jones
Paul Crowley & Co

How Paul Crowley & Co Solicitors can help you?

Paul Crowley & Co are experts in claiming compensation. We have successfully claimed back thousands of pounds in mis-sold car finance for our clients. With no upfront costs we offer No Win, No Fee, No Risk compensation claims, with nothing to lose… and everything to gain!

If you feel that you’ve been misled about a key feature of the car or the finance agreement, we will look at:

• What the salesperson/dealer/broker says would happen and what actually happened
• Any information you were given about the car before purchasing, this can include, brochures, advertisements, manuals, invoices, the car services and MOT inspection history
• Relevant documents such as pre contract information and finance agreements

Do not worry if you do not have any of this information, our experts claims handlers can still look at your complaint. If you think something was said that wasn’t correct, or that you were misled into taking out the finance agreement, we will look at the impact that this has had on you and what you might have done differently had you been fully informed at the outset.

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