For anyone who has ever needed to finance a car using Personal Contract Purchase (PCP), aka PCP for short, they know it is a very useful way to get access to a brand-new vehicle without paying a lot of money upfront. But what happens if things do not go according to plan? In case of concealed fees, misinformation, or unfavorable conditions regarding your PCP deal, you should consider making a pcp claim. Well, here at Legal Assist we're experts in this area - we know how to assist you in fighting for your rights and what is rightfully yours.

What Are PCP Claims?

PCP claims, as the term suggests, are claims made tenant-oriented that can be moved to a lease. But it is best to first understand how a PCP can be a type of agreement before looking at the general details of this. The word ‘agreement’ often elicits the impression of simplicity. But, in reality, it is a multi-faceted mode of auto financing that has various modes of agreement between the company and the buyer.

How To Know When You Are Eligible For A PCP Claim?

The words ‘allowance’ and ‘auto-loan’ go hand in hand for most people. PCP claims arise when a pcp agreement was mis sold or the key terms, expenses targets, or the value of the vehicle after maturity were presented misleadingly. If you feel something is off, then you could have a very good case and likely a compensation to claim.

Signs You May Be A Victim Of A Mis-Sale Of A PCP Agreement

1. Did Not Get Enough Information

Was the agreement not clearly fleshed out by the dealership? If so, and you were not made aware of balloon payment, interest rates, or mileage limitations, then the saw flag has been raised.

1. Additional Charges Not Revealed

Were there charges not revealed to you? This problem is frequent in PCP agreements that were incorrectly sold.

1. Car Value Exceeded Possibility

You would have to buy the car or have negative equity if the guaranteed minimum future value of the car was set on a higher margin.

1. Rush to Finalize The Deal

Did you feel like you were being forced or did not have a choice but to sign? Again, forceful selling can be a clear indication of a possible mis-sale.

How to make a PCP claim?

1. Look For the Agreement

Check your PCP contract in the first instance. Then ascertain if there is anything that seems unfair, vague or deceptive.

1. Evidence First

Retain all the papers, emails, or receipts concerning the purchase, and car finance.

1. Get Onboard With Legal Assist

We here at Legal Assist specialize in PCP claims. You tell us your case and we'll advise you how to proceed in these matters.

1. Fill In The Required Information For Your Claim

As a team, we will fill the required information on your claim evidencing all the points made to support your case.

1. Wait for Resolution

It’s normal for claims to take time and progress slowly. But fear not! We will be with you throughout the whole case management process and will provide you with updates along the way.

What Are You Able To Claim For In A PCP Disagreement?

Refund of Payments

If your Agreement was sold to you inappropriately, then you may have the right to get a payment refund of what you have paid.

Compensation of Losses

Were any additional fees charged without your consent or a higher value of a car was used to estimate your car? Losses Compensation would include the losses which are incurred.

Cancellation of the Agreement

Sometimes, you might be able to cancel the PCP totally in the deal of Carlson.

Commonly Mis-Sold Measures That One Should Look Out For as Not to Be a Victim of Mis-selling:

1. Unclear Interest Rates

The dealers would make the true cost of borrowing blurry. Ask for confusion of the interest rate and APR rate entirely.

1. Concealed Rigged Mileage Limits If there were mileage limit informed to you then that could take penalty anos at the end of your duration.
2. Incorrect Evaluation of Estimated Residual Value of a car

In virtually all cases, a car’s estimated residual value is woefully lacking. This actually determines how much money you will be required to pay on a monthly basis. If this was the boom – Then yes, of course, You may be paying Way Too More than you should.

How Legal Assist Can Help with PCP Claims

1. Free Initial Assessment You Can have an Argument with Me that Claiming is Better than Working. So you are not certain if there is a reasonable case Barry, Well you are in luck as we have a free appraisal session whereby we will help you with that.
2. Expert Legal Assistance

Seeing that PCP contracts are quite often extremely complex it is critical our team of specialists fight for the best outcomes for you.

1. Not having to pay anything unless we succeed and our system is no win, no fee

Are legal fees a concern? With our ‘We Win, You Pay ’ system, you incur payment only after we win a case on your behalf.

1. Cares Quite Strongly About The Clients Angle

We understand that each client has a distinctive case and make sure we sit down to discuss your case with you.

Why Mis-Sold PCP Agreements is a Major Issue

Because Consumer Rights Do Matter

This is the reason why mis-selling is codified as an offense because it’s not just unethical. It’s a breach of a person’s rights. And you are taking action, to rectify that.

Financial Effect

More and more people have been claiming that it cost them far more than what they were meant to pay due to being mis sold PCP agreements. But with a case revolving around this, one can only hope to be relieved of such worries.

Setting Tan Example

Finding out their rights is equally important for clients as every client helps to change cuts through the automobile finance landscape.

Future: Preventing Mis-sold PCP Agreements

1. Know the possible options

Listen to other consumers, compare offers and ask for as much detail as needed before signing anything.

1. Seek Clarification

Don’t hesitate to speak up. Issues like mileage limitations, interest rates and final balloon payments for example.

1. Check Everything Thoroughly

Ensure you go through the entire document to know exactly what the contract entails before signing it.

1. Get Proper Guidance

Don’t think of deal as favorable? Ask them to get a legal assist.

Success Stories: Real PCP Claims We’ve Handled

There are many customers we have assisted at Legal Assist to regain cash and take charge of their finances. Here are just a few examples:

Case 1: Hidden Fees

A customer found out there was a concealed fee in the agreement around £2,000. We got him a full refund.

Case 2: Misleading Terms

Yet another customer was misinformed concerning the mileage restriction. We assisted him in cancelling his agreement without penalties.

Frequently Asked Questions About PCP Claims

1. How Do I Know if I Have a Valid PCP Claim?

If you feel there has been misrepresentation or there was no clear explanation of the terms of the agreement, contact Legal Assist for a free evaluation.

1. How Long Does It Take to Resolve a PCP Claim?

Depends on how complicated your case is, but reasonable timeframes for such matters are in the range of several months.

1. Will Making a PCP Claim Affect My Credit Score?

Filing a claim won’t impact your credit score in any way.

1. Can I Claim If I’ve Already Paid Off My PCP Agreement?

Of course! The only instance where one cannot claim is if the agreement is based on mis-selling and even if yours is complete, a claim can still be made.

1. The Meaning of No Win No Fee Policy

So, it means that you won’t pay us a penny until we win the case for you.