Were you mis-sold car finance? Find out in 60 seconds.
Millions of UK drivers were quietly overcharged on their PCP or Hire Purchase agreements. Use our free, anonymous checker to see if you might be eligible for car finance compensation.
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The Car Finance Scandal Explained
What happened, and why you might be owed money.
Between 2007 and 2024, many car dealers and finance brokers were allowed to set the interest rates on the loans they arranged for customers. These were known as discretionary commission arrangements (DCAs).
The higher the interest rate you were charged, the more commission the dealer earned. Crucially, they didn't have to tell you they were doing this. The Financial Conduct Authority (FCA) banned this practice in January 2021, but millions of PCP and Hire Purchase agreements sold before then may have included these hidden fees.
Now, the FCA is investigating the issue, and an industry-wide redress scheme is expected. The FCA estimates an average payout could be around £829 per agreement, though individual amounts will vary and some people will get nothing.
You can read our full guide on car finance claims to learn more about the timelines and your options for claiming. Remember: using a claims management company is completely optional. You can always claim directly through your lender or the Financial Ombudsman Service for free.