Claim for mis-sold car finance

Did you finance a vehicle between 2007 and January 2021?
You could be owed compensation!

We’re helping existing customers find out if they’re eligible for a refund due to mis-sold vehicle finance agreements.

If you purchased a vehicle on finance before January 2021 you may have been mis-sold and could be owed compensation from your lender. Many customers were unknowingly charged higher interest rates because some dealerships earned secret commissions from lenders, without telling customers!

It’s time to check if you were mis-sold and claim back what you deserve!

Could you have been mis-sold vehicle finance?

The Financial Conduct Authority (FCA) estimates that up to 99%* of the 31.7 million vehicle finance agreements arranged since 2007 included hidden commission payments, meaning it’s highly likely that you overpaid!

In January 2021, the FCA banned discretionary commission arrangements (DCAs), a practice where brokers and car dealers increased your interest rates to boost their own commission, without your knowledge. If you financed a vehicle before this ban, you may have been overcharged and could be entitled to compensation.

In 2024, the FCA launched a major investigation into historical motor finance commission arrangements, with a final report expected by May 2025. Lenders will have until December 2025 to respond to claims, but don’t wait! ACT NOW to avoid missing out on potential compensation.

What are the next steps?

Our team of mis-selling experts is here to help, offering a FREE vehicle finance check** with a simple, hassle-free claims process.

If you’ve received a claim pack in the mail, simply complete the form and return it using the prepaid envelope.
If we find you may be eligible, we will refer your case to our trusted partner law firm, who can contact your lender(s) and pursue your claim on a No Win, No Fee basis**.
Haven’t received a mailing? Contact our friendly customer service team, and we’ll be happy to assist:

Call us: 0330 828 0420
Email us: info@ycmcarfinanceclaims.co.uk

You can sit back and relax while the hard work is done for you!

Car Finance FAQs

What is the car finance mis-selling claim about?

If you bought a car, van, or motorbike with a personal contract plan (PCP) or Hire Purchase (HP) between April 2007 and January 28, 2021, you might be owed compensation.

The Financial Conduct Authority (FCA), which oversees the car finance industry, launched a major investigation into hidden, and unfair car finance commissions, as some car dealers were often paid a commission by the finance companies. The higher the interest rate on the finance, the higher the commission the dealer would be paid, leading many buyers to overpay without knowing it. This mis-selling practice, known as ‘discretionary commission arrangements’ is now banned, and means millions of people could be entitled to compensation.

The FCA’s investigation is likely to finish by May 2025 with lenders being given up to December 2025 to respond to claims. This means there will be a delay in finding out if your claim is successful. However, it’s still important to act now and file your claim to avoid missing out.

Am I entitled to claim if I bought a used vehicle?

Yes, you can also claim for any used vehicle where you had finance in place.

Which car finance providers can I make a claim against?

Many of the claims will be against the banks or lenders who have agreements with the car dealerships. It is thought that ‘discretionary commission arrangements’ were commonplace and may involve a variety of finance providers including:

Black Horse Ltd
BMW Financial Services (GB) Ltd
CA Auto Finance UK Ltd
Close Brothers Ltd
Clydesdale Financial Services Ltd
FCE Bank PLC
FirstRand Bank Ltd (London Branch)
Hyundai Capital UK Ltd
Mercedes-Benz Financial Services UK Ltd
Moneybarn No. 1 Ltd
MotoNovo
NIIB Group Ltd
PSA Finance UK Ltd
RCI Financial Services Ltd
Santander Consumer (UK) PLC
Startline Motor Finance Ltd
Toyota Financial Services (UK) PLC
Vauxhall Finance PLC
Volkswagen Financial Services (UK) Ltd

If your finance provider is not listed above, don’t worry, we’ll check your finance agreement to establish whether you have been affected.

Can I claim for more than one vehicle?

Yes, you can claim for any separate finance agreements you may have had at any time between 2007- January 2021.

I can’t find the paperwork for my finance agreement; can I still claim?

Yes, you can still make a claim. This is a typical situation for many people, so don’t worry, our law firm partner will still be able to act on your behalf to pursue compensation.

How long does it take?

Once it’s been identified that you may be eligible to claim, we will transfer you to our law firm partner who will submit the claim to your lender(s).

Ordinarily, your lender(s) would have 8 weeks in which to respond. However, due to an ongoing investigation by the Financial Conduct Authority (FCA) which is scheduled to complete in May 2025, lenders have been allowed to pause responses until December 2025.

However, it’s important to act now and file your claim to avoid missing out on potential compensation. Lenders will be chased as soon as possible, and our law firm partner will keep you informed of any progress.

*FCA Consultation Paper CP24/22, page 30, section 12.

*We will run a free vehicle finance check. If we find you may be eligible, we will refer your claim(s) to our law firm partner My Law Matters (MLM) who may contact your lender(s) to verify your information. MLM will submit eligible claims to your lender(s) on a no win no fee basis. If successful, MLM’s fee is between 15% to 30% + VAT (18% to 36% total) of the amount recovered plus an admin fee of £30 + VAT (£36 total) per claim. MLM may charge a fee if you cancel after the 14-day cooling off period, see MLM Terms & Conditions for details inc. full fee breakdown. MLM pay YCM for claims referred, this is not payable by you. You don’t need to use our services; you can use another claims company or contact your lender or Financial Ombudsman Service for free. See our Terms & Conditions and Key Facts for further details including law firm fees.

Here to help!

If you have any questions or queries, you can call our team on 01902 939 000
we would be more than happy to help.