What are PCP and HP?

Personal Contract Purchase (PCP) and Hire Purchase (HP) are car finance options where you make a deposit and monthly payments typically over 2 to 4 years. The loan amount reflects the expected depreciation of the vehicle over the duration of the agreement.

Who is eligible to make a claim?

You may claim if your lender didn't disclose commission details or if you faced higher interest rates due to undisclosed commissions. If you have entered into a PCP agreement within the past 10 years, you may be eligible to make a claim.

Can I still claim if my PCP/HP Agreement has concluded?

Yes, you can still make a claim even if your agreement has already ended.

Which lenders are eligible for claims?

Claims can be made against anylender, or car finance provider that issued your PCP contract. Well-known entities include BlackHorse Finance, MotoNovo, Santander Consumer UK PLC, BMW Financial Services, Volkswagen Financial Services, Mercedes Financial Services, RCI Financial Services Limited, FCE Bank (Ford), FCA Automotive, and Vauxhall Finance.

What are the costs involved?

You can view our full Terms and Conditions which detail our fees here.

How much compensation can I expect?

Following an FCA investigation, it was found that the average customer with a £10,000 PCP agreement over four years was overcharged by £1,100.

How long will the claim take?

The FCA has paused the investigation of motor finance complaints (from the usual 8 week deadline) and this may continue until on or after 4th December 2025 whilst they examine the issue of car finance sales that involved discretionary commission. We can still submit a complaint on your behalf but may not receive a response until after the FCA has completed its review.

Can I claim for multiple PCP contracts?

Yes, we can check all of your PCP contracts from the past 10 years, as long as we are able to retrieve the agreements from your lenders.

Can I cancel my claim?

Yes, you can cancel your claim at no cost within 14 days from the date you signed with us. After this we reserve the right to apply a cancellation fee which you can view in our Terms and Conditions.

How Will You Receive Your Payment?

Where you are due compensation, the lender will usually make this payment directly to you by bank transfer. We will send you an invoice for our fees, which must be paid within 14 days in accordance with our Terms and Conditions.