Car Leasing
of car leasing finance agreements did not legally disclose dealer commissions!
It's your legal right to claim!
All you need to do is complete your details below, one of our experts will personally call you to let you know if you are eligible and register your claim for you if you are.
“We found that some motor dealers are overcharging unsuspecting customers over a thousand pounds in interest charges in order to obtain bigger commission payouts for themselves.”
FCA spokesman Jonathan Davidson
The Financial Conduct Authority (FCA) reports thousands of customers with Personal Contract Hire (PCH) agreements have experience unfair charges and secret commissions!
It’s your legal right to claim them back!
HAVE YOU LEASED A CAR IN THE LAST 7 YEARS?
The Financial Conduct Authority (FCA) has recently completed a study that has revealed that ten of thousands of UK motorists have been sold motor finance contracts that have breached the Consumer Credit Act, by the means of non disclosure leading to financial irregularities. These are mostly commission arrangements that were not disclosed and interest charged to the customer that has in turn meant large financial losses to car buyers.
The FCA analysed around 60% of the motor finance market and they estimate that commission models which allowed broker discretion over the interest rate could be costing customers £300m more annually when compared against a baseline of Flat Fee models.We estimate that on a typical motor finance agreement of £10,000, higher broker commission under the Reducing DiC model can result in the customer paying around £1,100 more in interest charges over the four-year term of the agreement.
Commission Disclosure Survey
The Financial Conduct Authority conducted a mystery shopping visit and found only a small number of brokers actually disclosed commissions when arranging finance deals for their customers.
Their final findings were as follows:
• 1 out of 37 franchised retailers
• 4 out of 60 independent retailers
• 2 out of 14 car supermarkets
• 4 out of 11 online brokers
This means 91% did not disclose commissions on motor finance.
HAVE YOU BEEN AFFECTED?
Customers who have leased a car in the last 7 years with a Personal Contract Hire (PCH) agreement could have a claim and be entitled to a refund of all interested paid and any deposit paid. Talk to our experts today to find out what you are entitled, register your details above and they will be happy to answer all your questions.
SIMPLE CLAIM PROCESS
Once a claim is verified, we endeavour to get the best possible cash settlement for you on a No-Win, No-Fee basis.