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Motor Finance Claims

Expert Motor Finance Claims Solicitors in Manchester

If you are confused about your car finance agreement and want to seek legal advice, you can contact our motor finance solicitors at Invicta Legal.

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What is a Motor Finance Claim?

A motor finance claim is a legal action that a car owner may take if they believe they were mis-sold the finance agreement. At Invicta Legal, our solicitors will provide you with legal advice on how to claim the compensation you deserve.

If you have purchased any motor vehicle on finance, whether it be a bike, car, or van, and you think you were misled on your contract by your dealer, you can check your claim’s eligibility. It is essential to identify mis-selling of the finance contract. Once mis-selling is identified, we may proceed with the compensation claim with our specialist claim solicitors.

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Types of Motor Finance Mis-selling

Mis-selling of motor finance agreements can take many forms. The most common types of car finance agreements are personal contract purchase (PCP) and hire-purchase (HP). If anyone purchases a car on finance, it is the lender’s responsibility to provide complete and accurate information to the customer. If the lender conceals information or misleads the customer into purchasing an unsuitable product, the customer may claim compensation.

Undisclosed Commissions

When signing any finance deal, it is crucial to understand its terms and conditions, including the commissions you are paying. Sometimes, the car dealers, banks, or brokers do not disclose complete commission details. This results in mis-selling. Due to hidden or undisclosed commissions, you pay a higher price on your motor finance contract. Therefore, it is important to immediately seek legal assistance if you identify any discrepancies in the contract. You may be eligible to claim against undisclosed commissions.
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Lack of Transparency

One of the most common types of mis-selling is a lack of transparency in the motor finance agreements. Sometimes, dealers hide the commission details, along with other essential details like mileage limit, balloon payment, and repayment costs. This critical information is not adequately highlighted in the contract, leading to mis-selling of the finance deal. Furthermore, it is the utmost responsibility of the dealers to offer the best advice on whether to choose HP or a PCP deal. If you signed a PCP contract without knowledge of the balloon payment, you may have been mis-sold on your contract.
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Higher Interest Rates

Another important reason for mis-sold PCP and HP contracts is higher interest rates. These result from discretionary hidden commissions (DCAs). When a customer is unaware of the profits made from the deal, they pay a higher price or a higher interest rate, which is not their fault. Because of this misrepresentation, a customer may file a claim against the seller or the dealership. At Invicta Legal, our motor finance claim solicitors help our customers to get the compensation they deserve. If you have been charged a higher interest rate than the market rate, you may be eligible for a claim.
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High Pressure Sales

This is another common cause of mis-sold PCP and HP contracts. Sometimes, the salesperson uses high-pressure tactics to convert a potential lead. They hide information, such as DCAs, provide incomplete details, like mileage limits and other restrictions, and use pressurising tactics to make a sale. This leads to confusion, and a customer may sign a mis-sold contract which is not in their favour. Due to incorrect information and misrepresentation by the seller, a customer may face financial complications. In such cases, our expert claims solicitors will guide you to make a compensation claim.
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Inadequate Financial Check

It is important to carry out adequate financial checks before approving a customer’s finance agreement. If your lender did not run a complete background or affordability check before approving a motor finance agreement, you may make a claim against your lender. This negligence by the lender or the broker may cause financial stress and negatively impact the credit score of the customer. Our solicitors will help you identify mis-selling and establish a claim seeking compensation. We work on a no-win, no-fee basis, so you do not have to worry about it.
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Contact Our Solicitors for Immediate Support

07956 768705

Motor Finance Claims Process

If you have purchased a motor vehicle on finance, either on PCP or an HP contract, and you realise that you might have been mis-sold on your deal, you can make a claim. Our team at Invicta Legal will help you identify mis-selling issues and will proceed with your claim request.

Contact Our Legal Adviser

Once you contact our legal advisers, they will ask you some questions regarding your injury to ensure you qualify for the claim process. This consultation is free of cost, and our adviser will not ask anything that is not required for the claim.

Collect Evidence

If you are qualified to make a claim, our adviser will put you in touch with the specialist solicitor. The solicitor will offer you a free consultation and do all the paperwork on your behalf to put forward your claim request.

Make a Submission

Once all the documents have been collected, your claim request will be submitted. Our solicitors will contact the responsible party and notify them about the case to secure settlements that cover general damages and special damages.

Settlement

Sometimes workplace accident claims are settled outside court, but if a reasonable offer is not made, our solicitors will proceed with court action. You will receive the compensation you deserve.

Can I Make a Motor Finance Claim?

Anyone can make a claim if they suffered a loss due to someone else’s negligence. In a motor finance claim, you are mis-sold on your finance agreement. As a result, you face financial complications that impact the quality of your life. In such cases, legal advice is compulsory. Our specialist motor finance claim solicitors will understand your case, identify the cause of mis-selling, gather evidence to support, and then proceed with the claim application. At the end, you will get the compensation you deserve.
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Frequently asked questions

How are cars financed?

Personal contract purchase (PCP) and hire-purchase (HP) are the most common types of car financing options prevalent in the UK.

How does a motor finance dispute arise?
A motor finance dispute or mis-sold motor finance contracts arise due to seller’s negligence. If they fail to provide accurate and complete details to the customer it creates a mis-sold deal.
How can Invicta Legal help with a motor finance claim?
We have a team of specialised solicitors who will help you identify the discrepancies in your motor finance contract and then make a no-win, no-fee claim for you.
Can I make a claim if my agreement is older than six years?
It depends, we will access your case individually according to the latest updates by the regulatory authorities.
What if I do not have my financial paperwork?
Our motor finance claim solicitors will help you out in retrieving your financial paperwork from your lender.