“Understanding Mis-Sold Car PCP Finance: What You Need to Know”

Navigating Legal Waters The Importance of Expert Solicitors
9th April 2024
9th April 2024
Solicitors in Lancashire

Buying a car is a significant investment, and many consumers turn to Personal Contract Purchase (PCP) finance agreements to make their purchase more affordable. However, what happens when you discover that your car PCP finance was mis-sold? Understanding the implications of mis-sold car PCP finance is crucial for protecting your rights and seeking appropriate recourse.

What is PCP Finance?

PCP finance is a popular option for purchasing a car, offering lower monthly payments compared to traditional car loans. With PCP finance, you pay a deposit upfront, followed by fixed monthly payments for the duration of the agreement. At the end of the term, you have the option to make a final “balloon” payment to own the car outright, return the car to the dealer, or trade it in for a new vehicle.

Signs of Mis-Sold Car PCP Finance

Mis-selling occurs when a financial product, such as PCP finance, is sold to a consumer without adequately assessing their needs and financial circumstances. Here are some signs that your car PCP finance may have been mis-sold:

1. Pressure Selling: You felt pressured into signing the PCP finance agreement without fully understanding its terms and conditions.

2. Unsuitable Product: The PCP finance agreement did not align with your financial situation, such as high monthly payments that you couldn’t afford.

3. Hidden Fees: There were undisclosed fees or charges associated with the PCP finance agreement, increasing the overall cost of the vehicle.

4. Lack of Information: You were not provided with clear and accurate information about the terms of the PCP finance agreement, including potential risks and obligations.

5. Misleading Statements: The dealer made misleading statements or promises about the benefits of the PCP finance agreement, such as exaggerated claims about future vehicle value or trade-in options.

Seeking Recourse for Mis-Sold Car PCP Finance

If you believe that your car PCP finance was mis-sold, you have the right to seek recourse and potentially obtain compensation. Here are steps you can take:

Gather Evidence: Collect documentation related to your PCP finance agreement, including contracts, correspondence, and receipts and contact Lewis Mitchell Solicitors on 01200 428102 where we will be happy to conduct this matter on No Win No Fee basis

We are open 7 days a Week until 10.00 pm


Mis-sold car PCP finance can have serious financial consequences for consumers. By understanding the signs of mis-selling and taking appropriate action, you can protect your rights and seek recourse if you believe you have been a victim of mis-selling. Don’t hesitate to seek legal advice and explore your options for resolving the issue effectively.