Freqently Asked Questions
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What is mis-sold car finance?
Mis-sold car finance occurs when agreements may have included inflated interest rates used to pay hidden dealer commissions. It also means the dealers were incentivised to sell you a higher interest rate to increase their own commissions. It is estimated 97% of UK motor finance agreements could be affected.
How much does this cost? Can I claim myself?
We operate on a no-win-no-fee basis meaning you only pay upon a successful outcome. Our fees are between 15-30% depending on the compensation received. These fees are in line with SRA guidelines which can be found here:
https://www.lawgazette.co.uk/sra-to-cap-fees-on-financial-services-claims/5118747.article
You can of course raise a complaint to your lender yourself. We offer a hands off approach and our state of the art vehicle checkers will ensure you receive the right compensation for every finance agreement you have had.
What can I expect to get back?
The amount you may be able to reclaim from a mis-sold PCP agreement depends on several key factors:
The size of your finance loan: Generally, the larger the loan, the higher the potential refund.
The duration of the agreement: Longer-term agreements can lead to greater compensation.
The interest rate: If you were charged an unnecessarily high rate, you could be entitled to reclaim the difference.
If you’re unsure whether you were given a fair deal, Kingsnorth Solicitors can assess your agreement and help determine what compensation you may be entitled to.
Refund amounts vary depending on individual circumstances. On average, many clients receive over £2,000 in compensation. In some cases—especially those involving high-value vehicles or lengthy agreements—refunds have exceeded £10,000.
To find out if you qualify and get an estimate of your potential refund, Kingsnorth Solicitors can guide you through the process with our state of the art tools.
How far back can I make a Motor Finance Claim?
Reword to – You are eligible to make a Motor Finance Claim if you have had the finance after 2007. Discretionary Commission Arrangement DCA Claims run from 2007-2021.
Don’t delay – start your claim today as refunds will be processed on a first come first served basis.
Can I claim for more than one vehicle?
Yes, absolutely! You can submit a separate claim for every finance agreement you think may have been mis sold. Our team are on hand to find out which qualify for a refund.
What if I don't have my paperwork?
Don’t worry, you are still able to start a claim with us as our finance agreement finder is able to locate most agreements in your name. We are also able to request your finance agreements from the dealership and/or the finance provider if the checker misses anything.
How do I know if I am affected?
You might be affected if:
– Your interest rate was higher than it needed to be
– The dealer earned a commission and did not tell you.
– The paperwork was not made clear and was mis-leading
What is the average payout?
The average payout is £2,000 but we have seen some payments more than £6,000
