Claim Back Compensation On Your Mis-sold Car Finance

Have you purchased a car on finance since 1st April  2014, it is likely that they put you in touch with a finance company to provide the actual loan on the vehicle as a Hire Purchase Agreement or a Personal Contract Purchase. At Pearson Locke we assist in checking if you are due compensation if the dealership failed to provide comprehensive advice about financing options when buying a vehicle.

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Eligible for a Claim?

Both the Dealership and Finance Provider were obligated to be transparent and inform you of the commissions being paid – and if it was  you who was paying this commission by the way they applied the interest rate. This would often happen without the buyer even knowing what commission the sales team was getting. This is known as a ‘secret’ or ‘hidden commission’ and meant that customers were unfairly paying more than they should.

Your car finance agreement may have been mis-sold if:

  • The car salesperson did not inform you that they would receive a commission for the sale of the car.
  • The car salesperson did not adequately explain the details of the financial contract they sold to you, including the Terms and Conditions.
  • The car salesperson did not present all of the finance options available, including explaining the differences between each type of product.
  • The car salesperson did not present to you, with complete transparency, the interest rates charged for all loan options and how they may differ.
  • The car salesperson did not offer the best interest rate available to you.
  • The car salesperson talked you into a financial package that was unaffordable.

If you believe that you have been a victim of mis-sold car finance, please contact our specialist team

who will assess the merits of your case and will agree to act for you on a no win no fee basis.