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Fight Back! Did You Buy a Car on Unaffordable Finance? PCP, Debt Or Crippled?

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Post: Fight Back! Did You Buy a Car on Unaffordable Finance? PCP, Debt Or Crippled?

Did You Buy a Car on Unaffordable Finance?

Car Finance Mis-Selling Investigation – Could You Be Owed Compensation?

Overview

Millions of UK drivers may be owed compensation after a court found car finance companies unlawfully paid commissions to dealers without informing customers.

If you bought a car on finance before 28 January 2021, you might have been charged more than necessary—without even knowing it.

The Financial Conduct Authority (FCA) is currently considering a redress scheme that could refund affected customers without the need to complain individually.

Am I Eligible?

  • Supreme Court review: The case will be heard in April.
  • Potential redress: If upheld, compensation across the industry could reach £6–16 billion.
  • Involved firms: Barclays, Lloyds, Santander, Close Brothers, and others.
  • How it worked: Dealers earned more commission by increasing your interest rate—meaning you may have overpaid without realising.

How to Claim

You can check if you were affected and use a free template letter to make a complaint.

Avoid using claims firms—you can submit a complaint yourself for free and keep 100% of your compensation.

📌 Read the full guide and stay informed.

#CarFinanceMisSelling #FCAInvestigation #CarLoanCompensation #FinanceScandal #CarFinanceRedress #MotorFinanceUK #Barclays #LloydsBanking #SantanderUK #CloseBrothers #FOS #ConsumerRights #MisSoldFinance #KnowYourRights #UKFinanceNews #WhichAdvice #CompensationAlert #FCAUpdate #DriveSmarter #StayInformed #CarFinanceHelp

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Financial Claims Experts

Welcome to our latest news page.  You'll find all the latest Credit and Store Cards advice and updates on holding lenders to account.

✔ How this forum works

It’s important you are clear on the purpose and limitations of the site. We’re an information sharing website, aiming to help people who may have been mis-sold financial products. We base our information on over 20 years of experience in financial services and claims sectors, but we can’t guarantee our insights are perfect for everyone. So do note you use the information at your own risk and we can’t accept liability if things go wrong.

  1. This info does not constitute financial advice, always do your own research on top to ensure it’s right for your specific circumstances and remember we focus on rates not service.
  2. We don’t as a general policy investigate the solvency of companies mentioned (how likely they are to go bust), but there is a risk any company can struggle and it’s rarely made public until it’s too late (see the Section 75 guide for protection tips).
  3. We often link to other websites, but we can’t be responsible for their content.
  4. Do note, while we always aim to give you accurate product info at the point of publication, unfortunately price and terms of products and deals can always be changed by the provider afterwards, so double check first.
  5. Always remember anyone can post on the Mis-sold Finance Guy forums, so it can be very different from our opinion.