Did it ever occur to you that buying a car on a PCP plan could be problematic? Most people in the UK need to consider claims and compensation they can make on their purchases. They are unaware of consumer laws. The Personal Contract Purchase (PCP) is a plan in which the individual finances a car from the seller for a few years. It gives the impression that the driver owns the car. That is not true. While you are driving a car that was sold to you under a PCP plan, you don’t own it completely. The rights of the car still belong to the seller. However, PCP claims can be made if you are not totally aware of the PCP agreement and what it is about or if you have overpayments as per the vehicle’s current value.
Were You Mis-Sold?
The history of car dealers includes practices of mis selling car finance. If you were mis-sold through a PCP agreement, there would be many indications you can witness in your situation. For example, if someone tells you about your vehicle’s value and you have paid more than the real value, you were mis-sold. It is not your fault that you were unaware of the vehicle’s current value, but the seller has misinformed you. Another situation where you could be mis-sold is that you found the PCP agreement ambiguous. Most of the things should have been mentioned in the agreement. At the time of vehicle repair or excessive mileage, you were held accountable. When you know that responsibilities are unclear in the agreement, you can get assistance from an experienced car finance solicitor for your claim. If you discovered you were mis-sold in the PCP agreement, you can make PCP claims against the seller.
What Did FCA Find Out About PCP Claims?
It has been investigated by the Financial Conduct Authority (FCA) that most PCP claims were made against hidden commissions, high interest rates and faulty vehicles. Sellers have sold vehicles with damages at a higher price than they should have been sold at. Earlier, the sellers and discretionary committees were allowed to set their commissions. It resulted negatively. Therefore, FCA has taken that liberty from the discretionary committee and has decided to commission themselves.
Am I Responsible for Signing a Misinformed PCP Agreement?
Signing the PCP agreement does not mean you are responsible for everything. You can still make a claim even if you have signed the agreement because the PCP agreement may not have been explained to you correctly.
Compensation for Mis-Sold Finance
If you are looking for a PCP claims solicitor, you must hire an experienced legal expert who can get you fair compensation for your claim. Your compensation for the mis-sold is your overpayment in the PCP plans. You have been paying extra for the vehicle and may have also paid additional costs for vehicle repairs.
Financial Stress in PCP Claims
Financial stress indeed increases for many individuals, especially when they have already paid for services and products they purchased earlier and are now looking for legal experts for compensation. For example, finances could be an issue during car finance plans. Making monthly instalments may not be as easy as earlier because of the high interest rates. Possibly, you were mis-sold. If you think PCP claims will involve spending more money, you must think positively because solicitors only charge you a percentage of your compensation.
How Can I Find a Car Finance Solicitor?
However, suppose you are involved in PCP claims and want to get maximum compensation for your case. In that case, you should hire a solicitor with the technical experience and knowledge to manage car finance claims. The experts will analyse your case to ensure that you get fair compensation. Sometimes, may need a team of legal solicitors to help you with your case. Let your case be handled by a professional solicitor with a proven track record in car finance claims. The best thing about these lawyers is that they work with the policy of no win, no fee basis.
If you think you were mis-sold, you can hire a solicitor. You can streamline your PCP claims in the UK with an expert in PCP claims. They will guide you about claims and the compensation process for car finance claims. An experienced solicitor for PCP claims will ensure that you get maximum compensation. However, they do not charge you any fee if you lose the case. Therefore, always look for solicitors who work on the basis of no win or fee. Make your PCP claims hassle-free by making an initial consultation with the solicitor. If you have a Army hearing loss claims, you can talk to the solicitors who are connected with Sonic Settlements to ensure fair compensation. Your mis-sold finance claim can only be resolved through an experienced solicitor in the UK.
