If you've been misled regarding your car finance options, weren't informed about commissions, or were subjected to unfair sales tactics and inadequate affordability checks, you might have a mis-sold car finance claim. This also includes scenarios where excessive interest rates were applied to inflate commissions or if you were affected by the diesel emissions scandal under false pretences.

Hidden commissions occur when a salesperson or dealership receives a fee from the bank for securing your finance deal without your knowledge. The law mandates full disclosure of all transaction fees, including commissions. Failure to do so can constitute fraud, making both the lender and the broker potentially liable.

Yes, if you entered a PCP agreement under the belief that your vehicle met certain emissions standards, only to discover later that those claims were false, you may be eligible for compensation through mis-selling claims.

In response to these malpractices, the FCA banned commission models that incentivize higher interest rates, effective from January 28th, 2021. This move aims to protect consumers and ensure fairness, potentially saving them around £165 million annually.

Victims of mis-sold car finance agreements can seek to terminate their current finance agreements and claim compensation. This compensation aims to restore them financially to where they would have been had the mis-selling not occurred, potentially amounting to thousands of pounds. The Financial Ombudsman Service can also offer compensation if the lender is unable to pay.