What Is A Mis-sold Car Finance Agreement?
Mis-sold Car Finance Claim
What Is A Mis-sold Car Finance Agreement?
According to an investigation conducted by the Financial Conduct Authority (FCA), they have uncovered evidence of widespread mis-selling across different types of vehicle financing from personal contract hire (PCP) and hire purchase (HP) type of agreements.
Undisclosed and hidden to consumers, lenders have systematically incentivized brokers and car dealers to charge their customers high interest rates by paying the dealership bigger commissions in return. In many cases, people have been sold car finance agreements that don’t have their best interests in mind. It could be that you were not presented with all options available, or were given options less-suited to your needs with a view to the provider making more money. This means you may have paid more than you should have.
If you've purchased a vehicle on finance within the last 10 years, you may have been a victim of mis-sold motor car finance if you have been given a poor advice on your financing options, or if you have incurred unexpected fees and costs. If you were not adequately made aware or sufficiently informed of the various commissions being charged within your agreement, and the options or risks were not clearly explained to you, or the dealership failed to disclose the commission they'd receive, then you could be owed thousands of pounds in compensation. The amount you're owed will depend on numerous factors including the size and duration of the loan, or the difference between the interest rate offered and the rate you should have rightfully received. If this sounds familiar or if you have experienced these when purchasing a car finance, then you may have been a victim. You can get more information about making a claim from Ingram Toft or Allison Allcott Ltd.
We can facilitate you and anyone who has been mis-sold a car finance around the UK that needs help, or thinks they may be eligible! And the best part is, we can immediately start your claim today! It’s a No Win, No Fee, which means it will cost you nothing to try! You can click on the claim button below and fill out the claim form and we will contact you as soon as we received your completed claim form to start processing your claim request.
