If you think you’ve been mis-sold a car finance PCP deal in the UK, several top legal firms can help you reclaim what you’re owed. Below are five standout providers that specialise in mis-sold car finance claims.

1. Bott and Co

Bott and Co have an impressive track record, winning more than 90% of mis-sold car finance cases since early 2022. Their clients typically receive over £1,600 in compensation, making them a reliable choice for those seeking redress.

2. Courmacs Legal

Specialising in civil litigation, Courmacs Legal provides tailored support for mis-sold car finance claims. They offer easy access to PCP claim forms and personalised advice, ensuring your case is handled with expertise.

3. Slater + Gordon

Slater + Gordon make it simple to find out if you qualify for a claim. If eligible, they handle negotiations with your lender, aiming to secure the best possible outcome on your behalf.

4. LawPlus Solicitors

LawPlus Solicitors offer a free, no-obligation review of your car finance agreement. They believe car finance mis-selling could become as significant as the PPI scandal, urging consumers to check their contracts carefully.

5. ClaimExperts

ClaimExperts focus on the transparency of car finance deals, emphasising that undisclosed commissions could make both the lender and broker liable. Their expertise could strengthen your claim for compensation.

Why Act Now?

Mis-sold car finance claims can result in significant compensation, often exceeding £5,000, plus additional interest. Whether you pursue your claim directly with the lender, through the Financial Ombudsman, or with the help of a solicitor, it’s crucial to take action if you suspect you’ve been mis-sold.

Compensation and Process Overview

Average Payout: Mis-sold car finance claims can lead to significant compensation, often around £5,318.
Timeframes: If the claim is straightforward, compensation could be awarded within a few months. However, disputed cases might take 12 to 18 months to resolve.
Interest: In addition to the refund, you may be entitled to 8% interest annually on payments from the time they were made until settlement.

Grounds for Mis-Selling

You might have been mis-sold car finance if:

The dealership failed to disclose commission arrangements.
You unknowingly entered into a discretionary commission agreement.
Hidden fees or unclear terms led to you being overcharged.

How to Make a Claim

You have several options:

Direct Approach: Contact your lender to request a refund.
Financial Ombudsman Service (FOS): Seek resolution through this independent service.
Solicitor Assistance: Engage a solicitor on a “no win, no fee” basis, ensuring no financial risk to you.

Key Considerations

Regulatory Insights: The Financial Conduct Authority (FCA) indicates that around 40% of finance agreements may have undisclosed commission structures.
Ongoing Investigations: Major finance companies, including Barclays Partner Finance, Blackhorse, and Santander, are currently under investigation, which could affect many customers.

If you believe you’ve been affected, it’s worth exploring these avenues to potentially start a claim.