Can a PCP Claims Checker Tell If You’re Owed Money?

Personal Contract Purchase (PCP) car finance has surged in popularity across the UK, but many drivers may have mis-sold their agreements. If you took out a PCP deal, you could be entitled to compensation. A PCP claims checker helps identify if you were mis-sold finance, but does it guarantee a refund? Let’s break it down.

How Does a PCP Claims Checker Work?

A PCP claims checker reviews your finance agreement to spot any mis-selling signs. It looks for unfair commission charges, missing disclosures, or hidden fees. You provide details about your car finance, and the system checks for red flags. If issues are found, you could have a valid claim against your lender.

Common Signs of Mis-Sold PCP Car Finance

Many car buyers were not informed about crucial parts of their finance agreements. One major issue is hidden commission payments between lenders and dealerships. Here are key signs that you may have been mis-sold PCP finance:

• You were not told about a commission fee on your loan.
• The lender did not explain the full cost of the agreement.
• The dealer pushed PCP as your only option without alternatives.

If any of these apply, a PCP claims checker can help assess whether you were unfairly charged.

How Much Could You Be Owed?

The Financial Conduct Authority (FCA) found that many lenders failed to disclose commission fees properly. Some customers have received thousands in refunds after challenging their finance agreements. Compensation depends on how much interest you overpaid and whether hidden fees were applied.

A report from the FCA estimated that unfair commission structures may have cost UK drivers up to £300 million in overpayments. The exact refund amount varies based on your loan terms and the level of mis-selling.

Can a PCP Claims Checker Guarantee a Refund?

A claims checker identifies potential mis-selling but does not guarantee a payout. Once mis-selling is confirmed, you need to submit a formal complaint to your lender. If they reject it, you can escalate the case to the Financial Ombudsman Service (FOS) for review.

How to Start a PCP Mis-Selling Claim

If you believe your PCP deal was unfair, follow these steps to start a claim:

1. Use a PCP claims checker – Enter details about your finance agreement online.
2. Gather paperwork – Find loan agreements, dealership emails, and any finance documents.
3. Submit a complaint – Contact your lender, outlining the reasons for mis-selling.
4. Escalate if needed – If the lender refuses compensation, file a complaint with the FOS.

What Lenders Are Affected?

Several major lenders have been accused of mis-selling PCP finance. These include banks and car finance providers that operated with undisclosed commission structures. Many cases involve well-known brands like Barclays Partner Finance, Black Horse, and Santander.

Mis-sold car finance Motonovo cases have also been investigated, with some customers receiving refunds after raising claims. If you financed a car through Motonovo and suspect mis-selling, it’s worth checking your agreement.

Should You Use a Claims Management Company?

Many companies offer to handle claims for a fee, but you can do it yourself for free. The Financial Ombudsman Service provides free assistance if your lender refuses to compensate you. Using a claims checker is a good first step, but be cautious of firms charging high fees for something you can manage independently.

Final Thoughts

A PCP claims checker is a useful tool to determine if you were mis-sold car finance. While it can’t guarantee a payout, it helps identify if you have grounds for a claim. If you suspect mis-selling, act quickly, as financial claims have time limits. Checking your agreement today could mean reclaiming money you never should have paid.