Introduction

Have you ever felt that you were deceived about any financial undertaking? Such is the case with Personal Contract Purchase (PCP) deals for purchasing motor vehicles, which sometimes puts customers in a difficult position. If you were mis-sold a PCP agreement, then you are entitled to seek damages and take control of your finances once again.

Legal Assist Public Law Society is specifically aimed at persons who wish to undertake PCP Claims uk. We’re here to guide you every step of the way as you fight for the justice that you deserve.

What is a PCP Claim?

A claimant raises a PCP claim when he or she is of the opinion that they were mistreated with respect to Personal Contract Purchase car finance. Whilst these types of agreements have gained popularity, they are however sometimes marketed with little or no relevant information thus leaving the customer with hidden charges or unfavourable conditions.

How Does PCP Work?

Before we proceed to understanding how claims work, let us first see how PCP agreements work:

Initial Deposit: Once you’ve found the car you want to buy, you make the deposit of around 10% of the market price of the vehicle.

Monthly Payments: A series of fixed payments is made for a specified time period.

Balloon Payment: On maturity of the contract, the customer has the option of paying a lump-sum to gain full ownership of the vehicle or the customer can return the vehicle.

Problems Stem from PCP Agreements Why Are PCP Agreements a Problem? Although PCP deals appear straightforward, they come with some risks: High Interest Rates: Most of the clients never know the future total interest that is likely to be charged on them. Undisclosed Commission: Commission that should have been fully disclosed to the borrowers and funded the dealers Is withheld. Inadequate Financial Assessments: Some offers are extended to individuals without regard to their affordability. What constitutes a Mis-Sold PCP Agreement? Marketing Grievance PCF Agreements Could Have Been Mis-Sold To You: There was insufficient clarity over the terms accepted by the dealer or the lender It was not made clear to you that commission payments would negatively impact the deal. The agreement was poorly structured to suit the borrower’s financial situation. You were the victim of undue pressure to sign the document without proper opportunity to reflect on the details. How Do You Know If You Qualify for a PCP Claim? To help determine whether or not you qualify, consider the questions below: Did you have no idea what the total cost of the deal was? Did you have little or no information about what options you had at the end of the deal? Were you told the interest rates or other commissions that were inferior to what they ought to have been? When you entered into the agreement, Did it make you worse off financially? There are many points that you agree with; yes, you could have a claim.

Steps to File the PCP Claim

PCP claims filing looks demanding. However, Legal Assist is here to help ease the complexity of this process:

Step 1: Collection of Supporting Documents

Gather all the paperwork regarding your PCP agreement, which includes contracts, emails, and payment history.

Step 2: Get In Touch With Legal Assist

The case will be assigned to our competent team which will analyze the case and advise accordingly.

Step 3: Claim Submission

It is very unlikely that we will be able to assist you with the claim submission without completing the necessary paperwork.

Step 4: Contact the Lender

We will resolve issues with the lender or dealer for you in order to obtain compensation.

Step 5: Get the Payment

It is very straightforward, once the claim is successful, the compensation is sent, which resolves the individual’s financial issues.

What Claims can be Made in a Case of PCP Dispute?

Depending on your case, you may be able to claim the following:

Reimbursement for interest excess costs.

Value paid for losses.

Amendment of illegal clauses within the contractual agreement.

How Long Does it Take to File a PCP Claim?

The average duration for processing a PCP claim is about three to six months. Nevertheless, complex cases tend to take longer. Legal Assist is geared towards the fast and efficient settlement of claims.

What Benefits can Legal Assistance Bring to a PCP Claim?

1. Trustworthy Know-How

As a caveat, Our team focuses solely on PCP claims, concentrating on providing you with the finest directional assistance.

2. Effortless Experience

We take care of all the details of your claim so you can concentrate on the most important things in your life.

3. No win no Fee

We are a strong believer that everyone is entitled to justice, that is why we operate on no win no fee basis.

Misconceptions about the Process of Filing a Claim for PCP Disease

1. “I Do Not Have Money To Sue.”

With Legal Assist, there is no need to panic because we win cases on your behalf, and only then do you have to pay a penny.

2. “I Am Too Late To Claim.”

Even if the agreement lapsed a decade ago, you could still have sufficient time.

3. “Even If I Tried, I Do Not Have Enough Evidence.”

All necessary evidence may be collected with the assistance of our specialists.

Important Considerations for Filing Claims for Due Payments under PCP

Don’t Hesitate: There is an advantage to being the first to submit a request.

Stay Hydrated and Avoid Stress: Do not forget to maintain your documents in an organized manner.

Do not worry about anything because we are there: Allow the professionals from Legal Assist to tackle the tedious tasks.

The Assistance of Lenders’ PCP Application Complaints through the Financial Ombudsman Service

If your claim cannot be addressed to the lender, the Financial Ombudsman is able to assist in this respect. This impartial organization is responsible for examining disputes.

Case Studies: Real Life Testimonials

Case 1: A Client Suffers from High Burden of Interest Charges

A client was unaware that they had paid excessive interest because of hidden commissions. Thanks to our efforts, the client was reimbursed £5,000.

Case 2: A Customer Lacks Sufficient Financial Information and Affordability for the PCP Deal Offered

The customer lacked the requisite income but was accepted for PCP. After a lot of waste, we settled out of court and changed their payment plan.

The Future of PCP Claims

Many people are beginning to fight back at unfair PCP contracts as they become quick to recognize the injustice in the agreements. Our goal, with Legal Assist in the forefront, is to change the narrative of the car finance sector by ensuring fair practice.

Conclusion

The process of making PCP claims may be a daunting task but you don’t necessarily have to bear the burden all by yourself. Legal Assist is prepared to help you in winning the battle and getting the rightful justice and royalties that you demand.

Therefore, don’t be a captive to a mis-sold PCP agreement; call Legal Assist and step forward to eliminate debts from your life forever.

FAQs

1. How do I determine if I have been mis-sold PCP agreement?

You may make a case if the terms of the contract were not sufficiently clarified or if you were unaware of some hidden expenses.

2. What is the level of compensation that is likely to be realistic?

There is no limit to the amount of damages that can be sought, although overpaid interest and other investments are typically included in such damages.

3. Is it possible to file a claim after the termination of my PCP agreement?

Yes. It is possible to file a claim even if the agreement comes to an end.

4. What do you mean when you state that the agreement is ‘no win, no fee’?

It suggests that you will only pay us when we win your claim.

5. How does one go about making a claim with Legal Assist?

You just have to get in touch with us through our website or telephone, and we will help you with the process.