Was Your PCP Finance Mis-Sold?
Potential Redress Up To £1,658**
Some Personal Contract Purchase (PCP) and Hire Purchase (HP) finance agreements taken out between 2007-2024 may have included undisclosed commission arrangements. Start your Agreement Check in less than 1 minute.
How Dealerships Mis-Sold Finance
Some lenders and dealership brokers increased profits by using commission arrangements that may have affected your agreement interest rate.
PCP Claims & Supreme Court Ruling Timeline
January 2021: FCA Bans Discretionary Commissions
The Financial Conduct Authority (FCA) issues a complete ban on Discretionary Commission Arrangements (DCAs). Lenders are prohibited from using commission structures that incentivise dealerships to increase interest rates on your vehicle finance.
January 2024: FCA Launches Deep Investigation
Following a surge in customer complaints, the FCA pauses the 8-week deadline for motor finance complaints and initiates an industry-wide review into historical commission disclosures and dealership brokers.
October 2024: Landmark Court of Appeal Ruling
The Court of Appeal delivers a historic verdict in favour of consumers. It rules that it is unlawful for motor finance brokers to receive commission from lenders without the customer's fully informed, explicit consent.
March 2026: FCA Redress Scheme Consultation
The FCA consults on a proposed free consumer redress scheme for motor finance discretionary commission arrangements. The consultation sets out how affected agreements could be reviewed and how consumers could complain directly to lenders or the Financial Ombudsman Service.
Frequently Asked Questions
What is the PCP/HP finance commission issue?
The Financial Conduct Authority (FCA) has investigated lenders who allowed dealerships to increase interest rates on finance agreements to earn higher undisclosed commissions. This practice, called Discretionary Commission Arrangements (DCAs), was banned in 2021. Millions of UK consumers may have agreements that need review.
Could my agreement need further review?
If you purchased a vehicle on Personal Contract Purchase (PCP) or Hire Purchase (HP) between 2007-2024, and the agreement involved a Discretionary Commission Arrangement, your agreement could need further review. Businesses, individuals, and those with active or ended agreements could be included depending on partner firm assessment.
What is the average redress estimate?
*Average payout £829 per agreement FCA Policy statement PS26/3. Individual outcomes may vary based on agreement terms, interest margins, and length of agreement.
What documents do I need to provide?
You do not need your original finance paperwork to perform the check. By signing the digital authorisation (LOA), you enable our specialist panels to request and review agreement details from the finance provider.