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Mis-Sold Car Finance Claims
Mis-Sold Car Finance Claims
If you have bought a new or used car under finance, you may have been mis-sold. Vanstone Law is here to help you claim back the money owed to you. Get in touch today to make your claim.
Mis-Sold Car Finance
Mis-Sold Car Finance Claims
Have you bought a new or used car using finance in the last ten years? If you have, that finance agreement may have been mis-sold to you, and you may be able to claim hundreds, if not thousands of pounds in compensation.
Contact us today, and we’ll check your car finance agreement and tell you how much you may be able to claim in compensation.
What Is Mis-sold Car Finance?
Have you ever bought a car on finance? If yes, it’s quite possible you were mis-sold. An investigation by the Financial Conduct Authority has found evidence of widespread mis-selling across all types of car financing options. Unbeknown to customers, some car retailers received commission from lenders which was often linked to the interest rate customers were charged. Given that car retailers can set the interest rate, this created an incentive for them to sell more expensive credit – acting against their customers’ best interests.
How do I know if I’ve been mis-sold car finance?
If you bought a car on any type of finance, then it’s quite possible you have a claim. The quickest and simplest way to know if you have a mis-sold car finance claim is for us to review your car finance agreement and then check if ‘secret’ commission was paid to the car dealer / finance broker for arranging the credit agreement. However, ask yourself:
- Did you fully understand the finance deal offered to you?
- Were you made aware of other finance options available to you?
- Did the car dealer / finance broker tell you what commission they were receiving?
If you’re unsure then it’s likely you didn’t receive the best advice and were therefore mis-sold. That was certainly the outcome of a mystery shopping exercise, undertaken by the Financial Conduct Authority, which found that:
- Salespeople were quick to focus on one product, without considering alternative options, meaning customers weren’t making informed decisions
- For new car sales, PCP as opposed to HP dominated discussions, with customer’s desire to own the vehicle often being ignored
- The amount of commission, received by the dealer / broker, was rarely disclosed
Our Services
- Hire purchase (HP)
- Personal Contract Hire (PCH)
- Personal Car Loan
- Personal Contract Purchase (PCP)
GET IN TOUCH
Contact Vanstone law using the contact form or via the following details and we’ll be in touch to let you know how we can help:
What is the process for making a mis-sold car finance claim?
- Send us a copy of your car finance agreement, which we will treat in confidence (see our Privacy Policy). We’ll then review this and advise you if you have a claim.
Please note: if you don’t have a copy of your car finance agreement then just let us know the name of the lender and dealership and we’ll request a copy.
- If we accept your case, and you instruct us to act on your behalf, we’ll make a claim against the lender
- If we can demonstrate you were mis-sold car finance, then we’ll recover compensation for you.
How much is a mis-sold car finance claim worth?
This depends on the amount of finance taken, the interest rate applied, the commission model used and the length of the repayment term. However, it’s likely to run into hundreds or thousands of pounds. If you have a copy of your car finance policy to hand then we can review this and make the necessary checks to see if your repayments included secret commission, paid to the broker, for arranging the finance.
GET IN TOUCH
Contact Vanstone law using the contact form or via the following details and we’ll be in touch to let you know how we can help:
“Really good customer service. Responded quickly to minimise delays throughout the conveyancing process. I thought you were very efficient and handled all matters to a very high standard. Would gladly recommend you!”
Chaudhary
“The service is good. Mazhar did an amazing job with my case. He would contact me if I have missed anything to sign and would ensure that he would take the time to explain everything to me, providing the best service. I received a good settlement and the service was really good.”
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“I have used Vanstone Law twice in the past few years and am incredibly impressed not only by their professionalism and efficiency but the speed of their responses to any queries, which is something that is so important when dealing with any legal matter. Highly recommended!”
D.B
“Really good customer service. Responded quickly to minimise delays throughout the conveyancing process. I thought you were very efficient and handled all matters to a very high standard. Would gladly recommend you!”
Chaudhary
“The service is good. Mazhar did an amazing job with my case. He would contact me if I have missed anything to sign and would ensure that he would take the time to explain everything to me, providing the best service. I received a good settlement and the service was really good.”
W.Habib
“Vanstone Solicitors were very thorough and efficient with my work. They dealt with my Immigration matter and quickly sorted all aspects of my application. They got me the results I wanted. I will defiantly use them again for other matters. ”
M.Azad
“I have used Vanstone Law twice in the past few years and am incredibly impressed not only by their professionalism and efficiency but the speed of their responses to any queries, which is something that is so important when dealing with any legal matter. Highly recommended!”
D.B
Advice from our legal experts
Vanstone Solicitor’s specialists team has the experience and the expertise you need.
Call us now on or email us on and we will be in touch.
*A free consultation is only redeemable once, and is limited to 20 minutes.
Advice from our legal experts
Vanstone Solicitor’s specialists team has the experience and the expertise you need.
Call us now on or email us on and we will be in touch.
*A free consultation is only redeemable once, and is limited to 20 minutes.