MY CAR FINANCE REFUND
Refund Your PCP or HP Agreement
If you've purchased a car on Finance between 2010 & 2020 you could be due a substantial refund thanks to an investigation by the FCA
- Refund worth £1,000's
- Without having to give your car back
- Applies to cars you've already handed back
Rated 'Excellent' by 5-star reviews
Rated 'Excellent' by 5-star reviews
- Refund worth £1,000s
- Approved by the FCA
- Rated 5/5
- UK Based Team
Why Could You Be Owed a Refund
On Your Finance Agreement?
Secret Comission
When the dealer sold your finance, they likely received commission for the sale of the finance and additional incentives for the volume of loans and cars sold in that period. This was deliberately hidden from you if they didn't disclose it
Interest Rate Manipulation
Until 2021 dealers had the power to control the interest you paid, breaking the link between your credit score and the rate you received. This outrageous behaviour was granted to them by the lender because more interest meant greedy dealers could get more commission.
FCA Investigation
40% of car finance deals had hidden commissions, leading to an FCA investigation on January 11, 2024. This affects even returned cars, with consumers overpaying £1,100 on £10,000 loans
What Does The FCA Say?
- 40% of car finance deals, there were hidden 'discretionary commission arrangements'
- On 11 January 2024, the FCA launched a major investigation into this
- Applies to cars you've already handed back
- The FCA has sided with motorists who were mis-sold car finance
- The FCA's own stats suggest that, on average, car buyers paid £1,100 more interest on a typical £10,000
Rated 'Excellent' by 5-star reviews
How Do You Get Started?
Enter Your Details
Complete the form above providing your contact details.
Check your eligibility
Select your finance provider & provide any additional information about your agreements.
Request your VFA
Sign our paperwork so we can request your vehicle finance agreement.
Claim your refund
We’ll inspect your VFA for any potential hidden commissions or fees.
Your Frequently Asked Questions
Mis-sold car finance occurs when a car loan or finance deal is presented to a buyer in a misleading, deceptive, or disadvantageous manner. This often includes not disclosing the full costs or terms of the deal, or failing to mention commissions that violate consumer credit laws.
To determine if your car finance was mis-sold, look for hidden fees, high-pressure sales tactics, lack of comprehensive agreement details, or if the finance didn’t suit your needs. Spotting these signs may require the expertise of professionals like My Car Finance Refund.
The time to settle a mis-sold car finance claim varies with its complexity and the resolution method (negotiation or litigation), generally ranging from 9 months to a year once initiated.
Filing a claim for mis-sold car finance with us operates on a “No Win, No Fee” basis, ensuring you incur no costs unless your claim succeeds.
In the event of an unsuccessful claim, you typically are not liable for legal fees when represented on a “no win, no fee” basis.