Pogust Goodhead has launched ‘My Finance Claim‘ to hold lenders and brokers to account for mis-sold car finance and to secure compensation for our clients.
The scale of motor finance mis-selling is overwhelming, as is the compensation due to those affected. Recent Financial Conduct Authority (FCA) figures suggest that around 1 in 3 agreements may have been mis-sold between 2010 and 2021.
It suggests that the mis-selling occurred across all types of motor finance agreements. This includes Personal Contract Purchase (PCP) Agreements and Hire Purchase (HP) Agreements.
Car finance scandal
Until 2021, car dealers and brokers were able to receive commissions proportionate to the interest rates that customers paid when leasing a car. This created an obvious incentive for brokers to over-charge customers. Millions of people were mis-sold car finance by entering into financing agreements that they did not fully understand and could not afford.
“It’s high time that lenders are held to account over unfair practices that have left consumers unnecessarily out-of-pocket. We’re committed to advocating on behalf of all those affected and securing them the compensation they deserve. ” – Tom Goodhead, CEO and Global Managing Partner at Pogust Goodhead.
Reclaim mis-sold car finance
Pogust Goodhead is acting on behalf of all the affected customers of mis-sold car finannce. We aim to hold lenders to account and ensure that customers receive the compensation they deserve.
If you think the scandal has affected you, please visit myfinanceclaim.com to start your claim.