Learn how to use a PCP claims checker for free to find out if you’re eligible for a refund on your car finance. Start your claim today.
Car finance mis-selling has left many consumers paying more than they should. If you’ve taken out a Personal Contract Purchase (PCP) agreement, you might be eligible for a refund. A PCP claims checker helps you find out if you have a case without spending a penny. This guide explains how to use one, what to check, and what happens next.
Article Breakdown
What Is a PCP Claims Checker?
A PCP claims checker is a free online tool that helps you assess if your car finance was mis-sold. It works by asking a few simple questions about your agreement, lender, and how the deal was explained. The tool then determines if you may be entitled to compensation for unfair practices.
Many lenders failed to disclose hidden commission structures that increased monthly payments. The Financial Conduct Authority (FCA) is reviewing historical cases, which means consumers have a stronger chance of making a successful claim. If you were not told about commission payments, you could get thousands back.
Who Can Use a PCP Claims Checker?
Anyone who took out a PCP agreement in the last ten years can check their claim. The tool is designed for drivers who suspect they were mis-sold finance. If you were not given full details about commissions or alternative options, you may have a valid case.
Most claims come from agreements arranged through dealerships rather than direct from lenders. However, banks and finance providers are responsible for ensuring fair lending practices. If your contract included hidden commissions, you could be eligible for compensation, even if you arranged the agreement while working remotely.
How to Use a PCP Claims Checker for Free
Step 1: Gather Your Finance Agreement Details
Before using a checker, find your finance documents or digital contract. The key details you need include the lender’s name, agreement start date, and monthly repayment amount. If you no longer have the paperwork, check bank statements or emails for references.
Step 2: Answer Basic Questions
The claims checker asks questions about how the finance deal was presented to you. Expect questions like:
- Did the dealer mention commissions?
- Were you given alternative finance options?
- Did your monthly payment increase unexpectedly?
These questions help determine if you have grounds for a claim. Answer honestly to get an accurate assessment.
Step 3: Receive an Instant Result
After submitting your details, the tool will tell you if you may have a claim. Some checkers offer instant feedback, while others email a response within 24 hours. If eligible, you’ll be given options on how to proceed, including making a claim yourself or using a claims service.
What Happens After You Check Your PCP Claim?
If the checker confirms you have a claim, you can choose to handle it yourself or get help from a specialist firm. Submitting a Subject Access Request (SAR) to your lender is the first step. This forces them to provide all details related to your finance deal, including hidden commissions.
Once you receive your lender’s response, you can submit a formal complaint. The Financial Ombudsman Service (FOS) can intervene if your lender refuses to pay compensation. Many cases result in refunds, reduced loan balances, or cleared outstanding finance.
How Much Can You Claim?
Compensation depends on how much you overpaid due to undisclosed commissions. Some customers have received refunds of £1,000 to £5,000, depending on loan size and unfair charges. If your claim is successful, you may get back interest paid on top of the refund amount.
The FCA is still investigating large-scale mis-selling, which means more customers could be eligible. It’s crucial to check your claim as soon as possible, as future rulings may set deadlines for compensation.
What If You Had Finance with MotoNovo?
If you financed a vehicle through MotoNovo, you might be eligible to claim for undisclosed commissions. The company has previously provided finance through dealerships, which could mean higher monthly costs due to hidden charges. Using a PCP claims checker helps you find out if you have a valid MotoNovo claim without hassle.
Do You Need a Claims Management Company?
You don’t need to use a claims firm, but some people prefer professional help. Many firms operate on a no-win, no-fee basis, meaning they take a percentage of successful claims. If you want to claim for free, you can follow the steps above and submit your complaint directly to your lender.
The process can take a few months, but persistence pays off. Keep all correspondence with your lender and escalate your case if they refuse to refund your money.
Key Takeaways
- Checking your PCP claim is simple and completely free. If you suspect mis-selling, use an online checker to find out if you’re eligible for compensation.
- The FCA’s investigation means lenders must review past agreements, so now is the best time to act. Don’t leave money unclaimed—check your PCP agreement today.
