Personal Contract Purchase (PCP) finance deals have become one of the most popular ways to buy a car in the UK. But recent reports suggest that millions of these agreements may have included hidden commission structures, leading to unfair costs for consumers. If you’ve taken out a PCP agreement, you might be eligible for a refund. This is where a PCP claims checker comes in.
A PCP claims checker is a tool or service that helps consumers determine if they were mis-sold a PCP deal. It analyses key details of your finance agreement, checking for undisclosed commissions, excessive interest rates, or unfair terms. If issues are found, you could make a claim to recover the money you overpaid.
How Does a PCP Claims Checker Work?
- You Provide Your PCP Finance Details
You start by entering basic details about your PCP agreement. This includes the lender’s name, the date you signed the contract, and the total amount financed. - The System Checks for Mis-Selling Indicators
The checker looks for common signs of mis-selling, such as high undisclosed commission rates or inflated interest costs. These indicators suggest that the lender or broker may have prioritised commission earnings over fair customer pricing. - You Receive an Instant Eligibility Assessment
Based on the details you provide, the tool generates a result. If your agreement shows signs of mis-selling, you could be eligible to make a claim. Some services also offer free case reviews before proceeding with legal action.
What Are the Signs of a Mis-Sold PCP Agreement?
- Undisclosed commission payments – Lenders often paid dealers commissions that encouraged them to inflate interest rates. The Financial Conduct Authority (FCA) found that customers paid thousands more due to these hidden fees.
- Unfair interest rates – If your agreement carried higher-than-average interest rates without justification, you could have grounds for a claim.
- Pressure selling tactics – Some customers were pushed into PCP deals without being given clear alternatives or full cost breakdowns.
- Lack of transparency – If key terms like mileage limits, balloon payments, or refinancing options weren’t properly explained, your contract may have been unfair.
How Much Could You Claim Back?
The total refund depends on your agreement, but successful claims typically recover:
- The commission that was added to your deal without your knowledge
- Overpaid interest caused by commission-based price inflation
- Potential compensation for financial loss due to an unfair deal
Some cases have resulted in repayments of thousands of pounds. The FCA estimates that millions of customers may have been affected, meaning the total payout could reach billions of pounds across the UK.
How to Start a PCP Claim
If you think you were mis-sold a PCP deal, follow these steps:
- Check Your Agreement – Look for any details about commissions, interest rates, and payment terms.
- Use a PCP Claims Checker – This helps you quickly assess whether you could be eligible for compensation.
- Submit Your Claim – If you qualify, a legal expert can help you submit the claim to your lender.
- Wait for Investigation & Outcome – The lender reviews your case, and if successful, you’ll receive a refund.
If you previously financed a car through MotoNovo, you may be eligible for a MotoNovo refund. Their finance deals have been included in cases involving undisclosed commission payments. Checking your agreement could help you determine if you qualify.
Final Thoughts
Millions of drivers may have been overcharged due to secret commissions on PCP agreements. If you took out car finance before January 2021, checking your agreement could be worthwhile. With an easy-to-use PCP claims checker, you can find out if you’re owed money in minutes. If you’re eligible, submitting a claim could help you recover thousands of pounds in overpaid interest and hidden charges.
