Car finance is one of the most convenient ways to purchase a vehicle, but unfortunately, not all deals are as transparent as they should be. Many consumers in the UK have unknowingly been overcharged due to hidden fees, inflated interest rates, and undisclosed commissions. If you suspect that your car finance agreement wasn’t handled fairly, you could be entitled to car finance compensation. At Claim My Loss, we specialise in helping clients recover the money they are owed through mis-sold car finance claims.

Have You Been Mis-Sold Car Finance?

Mis-selling can often go unnoticed for years, and many customers only realise they have overpaid after a thorough review of their finance agreement. Here are some key signs that you might have been mis-sold car finance:

1. Undisclosed Commissions
Car dealerships often receive commissions from lenders for arranging car finance. If this commission was not disclosed to you at the time of purchase, you may have a strong case for a claim.

2. Inflated Interest Rates
Was your interest rate higher than expected? In some cases, dealerships inflate interest rates to maximise their commission. This results in unnecessary overpayments for the customer.

3. Lack of Transparency
If the terms of your finance agreement – including fees, interest rates, and potential commissions – were not clearly explained to you, this could indicate mis-selling.

4. Pressure to Sign
Were you rushed or pressured into signing the agreement without sufficient time to review the details? This is a common sign of mis-selling.

If you purchased a vehicle under a PCP (Personal Contract Purchase) or HP (Hire Purchase) agreement up until the 28th of January 2021, and you experienced any of these issues, you may be eligible to file a complaint.

What Can You Claim for Mis-Sold Car Finance?

Through our services at Claim My Loss, you can claim compensation for:

• Overpaid Interest – Reclaim excess interest paid due to concealed or inflated rates.
• Refund of Commissions and Charges – Any fees or commissions that were not properly disclosed at the time of agreement.
• Balance Adjustments – In some cases, the outstanding balance of your finance agreement can be reduced.
• Agreement Cancellation – In severe cases of mis-selling, the entire finance agreement may be cancelled, relieving the borrower of further payments.

By filing a claim, you can reduce financial pressure and recover funds that should never have been charged in the first place.

How Does the Claim Process Work?

At Claim My Loss, we make the process simple and stress-free. Our step-by-step approach ensures that you are supported at every stage:

1. Free Initial Consultation
We start with a 30-minute, no-obligation consultation. During this time, our experts review your case, asking about your car finance agreement and assessing whether you have grounds for a claim.

2. Document Review
We gather essential documents, such as car finance agreements, payment records, and correspondence with the lender. If you don’t have all the paperwork, don’t worry – we can help retrieve it for you.

3. Filing the Claim
Once we confirm that mis-selling has occurred, we draft and submit a formal complaint to the lender or broker. This outlines the grounds for your claim and the compensation you are seeking.

4. Negotiation and Resolution
In most cases, lenders settle claims directly. However, if they reject the claim or fail to respond within eight weeks, we escalate the matter to the Financial Ombudsman Service (FOS).

5. Final Outcome
If the Ombudsman rules in your favour, compensation is awarded, and funds are transferred directly to you.

Our streamlined process ensures that clients receive fair treatment without unnecessary delays or complications.

Why Choose Claim My Loss?

At Claim My Loss, we pride ourselves on delivering exceptional service to clients across the UK. Here’s why we stand out:

• No Win, No Fee – If we don’t win your case, you pay nothing. This ensures there is no financial risk in pursuing your claim.
• Expert Knowledge – Our experienced solicitors specialise in car finance mis-selling, successfully recovering compensation for countless clients.
• Client Satisfaction – With a 4.9/5 rating from 75+ reviews, our reputation speaks for itself.

Don’t Miss Out – Act Now!

If you suspect you’ve been mis-sold car finance, don’t delay. You have up to six years from the date of the agreement to make a claim, or three years from the date you discovered the mis-selling. We review most car finance agreements from the past ten years, even if the loan has been fully repaid.

Taking action now can help ease financial burdens and put money back in your pocket.

Get in touch today at 0161 840 1560 or email us at hello@claimmyloss.co.uk to start your claim. Visit claimmyloss.co.uk for more information.

Take control of your finances with Claim My Loss – your trusted partner in mis-sold car finance claims.