If you financed a vehicle before January 2021, you may be eligible to
make a mis-sold hire purchase car finance claim for compensation.
The car finance industry in the UK has been rocked by revelations of widespread mis-selling, particularly through undisclosed commissions and unclear finance terms in Personal Contract Purchase (PCP) and Hire Purchase (HP) agreements. Your Lawyers, a leading firm in compensation claims, is here to help you navigate this complex process and secure the redress you deserve.
This article explores the issue, your rights, and how
our expert team can assist you in reclaiming thousands of pounds.
Understanding Mis-Sold Car Finance: What Went Wrong?
Between April 2007 and January 2021, millions of UK car finance agreements, including Hire Purchase (HP) and PCP deals, were tainted by mis-selling practices. The Financial Conduct Authority (FCA) reportedly found that 95% of these agreements involved commissions, with 40% featuring Discretionary Commission Arrangements (DCAs), where dealers could inflate interest rates to earn higher commissions without informing customers.
Additionally, unclear finance terms, such as hidden fees or balloon payments, left consumers unaware of the true cost of their agreements. This lack of transparency, as highlighted by a 2024 Court of Appeal ruling, means you may have overpaid significantly. Your Lawyers specialises in identifying and pursuing mis-sold hire purchase car finance claims to hold lenders and brokers accountable.
How to Make a Mis-Sold Hire Purchase Car Finance Claim
Making a mis-sold hire purchase car finance claim with Your Lawyers is straightforward and worry-free, thanks to our No Win, No Fee representation. If you took out car finance before January 2021, you may be eligible if the dealer failed to disclose commissions, pressured you into an unsuitable agreement, or did not clearly explain repayment terms.
Start by gathering any finance agreements, correspondence, or payment records, though our team can assist even if you lack paperwork. We will assess your case for free, compile evidence, and submit a formal complaint to the lender or broker. Compensation can include overpaid interest, financial losses, or even a reduction in outstanding balances, potentially worth thousands. With the FCA’s ongoing investigation set to conclude by May 2025, now is the time to act.
Choose Your Lawyers for Your Car Finance Claim
Your Lawyers has a proven track record in financial claims, helping thousands of UK consumers recover compensation for unfair practices. Our specialist team, backed by years of experience, is actively pursuing mis-sold hire purchase car finance claims against major lenders like Barclays, Lloyds, and Close Brothers, and some have set aside billions for potential payouts. We can operate on a No Win, No Fee basis, ensuring no worries for you.
Our expertise in navigating complex regulations, including the FCA’s rules and the 2024 Court of Appeal ruling on commission disclosure, positions us to maximise your compensation. Whether you have paid off your agreement or still own the vehicle, we are here to fight for your rights.
Start Your Compensation Claim Today
If you suspect you were mis-sold a car finance agreement due to undisclosed commissions or unclear terms, do not wait to pursue your mis-sold hire purchase car finance claim.
Claim with Your Lawyers today here now to get started.
With the FCA’s investigation nearing its conclusion and potential redress schemes on the horizon, now is the time to act. Let Your Lawyers help you reclaim the compensation you are owed and hold those responsible accountable!
