claim car finance compensation

You could be eligible to claim £000's in compensation with My Car Finance Claim if you have leased or borrowed against a vehicle, including PCP finance

Start your claim today, choose your lender:

Blue Motor Finance




Oodle Car Finance

Specialist Motor Finance

Starline Motor

Other/ Multiple

You do not need to use a claims management company to make your complaint to your lender. If your complaint is not successful you can refer it to the Financial Ombudsman Service yourself for free.


The Car Finance Mis-Selling Scandal

A recent Financial Conduct Authority (FCA) investigation discovered widespread evidence of mis-selling on all types of vehicle financing options. Unknown to customers buying vehicles, lenders systematically incentivised brokers and car dealers to charge their customers higher interest rates so they could receive higher commissions themselves. As one car dealer openly admits in a recent article, “frankly, we were getting away with murder. We weren’t treating customers fairly and were, in effect, charging them to earn us money.”

The FCA estimated that hundreds of thousands of motorists might have been mis-sold finance packages. In some cases, customers are being overcharged by over £1,000 in interest in order for the dealership to obtain a higher commission pay-out. The FCA estimates this could be costing consumers £300 million annually.

Reports have shown that the car finance industry is rife with these secret payments and hidden commissions, meaning you could have been mis-sold your finance deal. 

Mis-selling has been discovered on all motor vehicle types, including new and used cars and vans under all vehicle financing options such as personal contract hire (PCP), hire purchase (HP), Contract hire or a car loan.

The broker often gets a commission, which they keep a secret

It has been unveiled that lenders tend to conceal the existence of commission offered to their brokers


Can I Claim Car Finance Compensation?

Like all loans, your car finance was mis-sold if the loan was unaffordable or the lender did not perform proper affordable ability checks. In relation to the hidden commission, your car finance deal may have been mis-sold if:

The car salesperson did not fully explain they would receive a commission on the sale of the car

The lender/bank did not fully explain the commission


The salesperson skipped through the car finance agreement Terms & Conditions


The customer felt pressured into the finance deal and was not given a range of options including explaining all of the differences in each type of product


The payments were unaffordable or no finance credit checks were carried out


The salesperson did not make it clear who was financially responsible for the repairs to the vehicle?


The salesperson did not offer the best interest rate available to you?


The salesperson did not present to you, with complete transparency, the interest rates charged for all loan options and how they may differ?

Don’t worry if you can’t find the agreement or remember who the lender or dealership was. You just need the name of the company you made the payments to. You should be able to find this information on your old bank statements.

If you think you have a claim, you need to act quickly as there are statutory deadlines, known as limitation periods, that apply to mis-selling claims. If your car finance product was taken out over six years ago, you can still claim if you only became aware of the potential mis-sale within the last 3 years.




Why Use The Claims Guide For My Claim?

You pay nothing upfront and we work on a no win no fee basis. Our rates are also competitive and lower than many other claims management companies. Claiming a refund can be a daunting task. We make it easy and ensure everything you need is included. Each claim is different and specific circumstances that are relevant to the claim need to be explained. The Financial Ombudsmun has previously been unable to progress some complaints that involved a “template” or “standard letter”.

How Much Will I Recieve If My Claim Is Successful?

If you are successful with your claim, you can claim back the interest and charges on your loans, plus, typically, 8% statutory interest.

What Information Do I Need to Provide?

You just need to provide the name of your lender and your personal details including the address that you lived at when registering with them. Once you have given these we can obtain details of any loans where a refund may be due.

How much will I be charged?

We always work on a no win no fee basis, meaning you won't pay a thing unless you win compensation. You will have the right to cancel the agreement within 14 days with no penalty. If you cancel after 14 days you may be charged for work done up until the time of cancellation. We use multiple partners to ensure we are able to offer claims against all lenders, from whom we receive payments. The exact fee structure will depend on which lender you are claiming against, as this decides which of our partners is most suitable for your claim. A breakdown of our fee structure can be seen here.​

How Do I Submit My Claim?

Simply complete our online application form by choosing the lender you want to claim against here. This is the first stage of your complaint to the lender where you could receive compensation.

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