Have you recently taken out a car finance loan? If so, there is a chance you could have been mis-sold. It is estimated that hundreds of thousands of motorists might have been mis-sold finance packages, costing consumers in the UK up to £300m a year! In this blog, we will explain what mis sold car finance Manchester is and how you can claim back the money you deserve.
According to the AA, a car finance agreement allows you to pay for a car over a period of time, with interest payable on the loan balance. There are four different types of finance options. Each of them has it’s advantages and disadvantages and will be suited to people with different circumstances.
It is estimated that around 1 in 5 people have been mis-sold a finance agreement. Did you receive poor advice or were not made aware of the various commissions being charged within your agreement? If this sounds familiar, you may be a victim of mis-sold car finance. Being mis-sold car finance usually leads to you ending up with a deal and car that doesn’t suit your or your financial needs.
Lenders must inform you of what is involved in the car finance deal. This prevents people from taking on car finance deals that aren’t suited to them and their finances. There is usually nothing wrong with the PCP deal, it all comes down to how clearly the dealer lays out the terms. PCP deals can be complicated and involve a lot of small print.
The average amount of compensation for a mis-sold car finance claim is around £1,100. However, sometimes these claims can be considerably higher than this figure.
You can claim for any loan you were sold to purchase a vehicle in the last ten years, so you can upload as many agreements as you like. Complete a short form providing as many details about the loan agreement as possible. The more information you can provide us, the quicker we can process your claim. We will then get started on claiming back the money you’re owed. Our services are offered on a “no-win no-fee” basis, meaning there is no financial risk in claiming compensation from the lender who sold it to you. Contact us today:
|Tel:||0333 358 2131|
|Address:||Bank Chambers, 93 Lapwing |