What are hidden/secret commissions?

PCP car finance agreements Manchester

Secret commissions can happen in any business, but in this guide we will be focusing on mis sold car finance secret commissions. Reports done by the Financial Conduct Authority show that the car finance providers have been concealing the existence of any commissions offered by their brokers.

What are secret commissions?

Secret or hidden commissions happen when financial value is passed to an agent without the consumer knowing. A secret commission can be:

  • Money offered or paid
  • Benefits of any non-monetary value offered or conferred (e.g. favours and dispensations where they should not be granted).

Receiving secret commissions is serious misconduct of employment, consultancy and agency relationships.

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Secret commissions in car finance

In the FCA investigation in regards to motor finance mis selling, they found that out of the 122 car dealerships visited by mystery shoppers, only 11 car dealerships confirmed that commission will be added on the deal.

Overcharging Customers

The FCA have estimated that consumers could be overcharged by £300 million pounds annually. Some customers are being overcharged by over £1,000 in interest in order for the dealership to obtain a higher commission pay-out.


The FCA also found that an alarming number of the PCP (Personal contract purchase) firms have been carrying out the car finance process without any regulation from the FCA. Which is illegal and means the customer is not protected.

Conflict of Interest:

Car dealerships are supposed to be separate from finance providers, but that hasn’t been the case. This has led to a conflict of interest, and salespeople have adjusted their interest rates to earn more commission from the deal.

How to make a claim?

If you’re looking to make car finance claims , the first thing you need to do is gather any evidence of mis-selling. This can simply be any finance agreements/contracts from the past ten years. If you don’t have these agreements to hand, give us the names of the company to who you made the payments (found on your bank statement).

Once you’ve done this, fill in a short, simple form, and one of our expert claims handlers will get back to you within thirty minutes.

Car finance for new cars Manchester

Mis Sold PCP Car Finance - Claim Compensation

If any of the above sounds familiar, you could have been a victim of mis sold car finance. Don’t worry because you may be able to claim compensation for any motor finance Manchesteragreements in the past ten years. The majority of our customers weren't aware they were mis-sold their car finance until our experts checked their finance agreements. Don’t worry about the cost either, because we work on a no-win-no-fee basis, meaning you won’t have to pay unless you get your compensation.

Contact us to find out more:

Web: https://www.pcpclaimsline.com/
Tel: +44 333 358 2131
Email: info@pcpclaimsline.com
Address: Bank Chambers, 93 Lapwing
Lane, Manchester,
United Kingdom,
M20 6UR