PCP (Personal Contract Purchase) is a popular way to finance a car in the UK, as it offers lower monthly payments and a final option to either pay a balloon payment or return the vehicle. However, not all PCP deals from PCP lenders are straightforward.

Many people experience PCP mis-selling during the sales process, with hidden fees, unclear terms, or conditions that don’t fit their financial situation. This mis-selling can lead to overpayments, leaving you paying far more than expected.

If you suspect that your PCP deal wasn’t properly explained or that there are hidden charges, you could be owed compensation. Reclaim247 specialises in helping people like you who have been mis-sold a PCP agreement by PCP lenders. They will review your contract, spot any problems, and help you get back the money you may have overpaid.

Read this practical guide on PCP mis-selling claims by Reclaim247 to gain insights on how to avoid getting stuck in paying for a deal that wasn’t fair from the start.

Check if You’ve Paid More Than You Should Have

To start reclaiming money from a mis-sold PCP deal, it’s important to check if you’ve been overcharged. Go through your PCP agreement and look at the details. Were the balloon payment or mileage limits properly explained?

Sometimes these crucial details are left out, and hidden fees or high interest rates from PCP lenders can leave you paying far more than expected. Many people don’t realise they’ve been overpaying until they take a closer look at their paperwork.

Reclaim247 makes it easy to check if you’ve paid too much. Their experienced team can review your PCP contract, highlighting any overpayments or unreasonable charges. By identifying where you’ve lost money, they help you take the first step toward getting it back.

Understanding how much you’ve been overcharged is key to beginning the claim process, and with Reclaim247’s help, you’ll be guided through this step with ease.

Gather the Right Documents to Prove Overpayments

After reviewing your PCP deal, the next step is to gather the documents you’ll need to prove any overpayments. The most important document is your original finance agreement, which shows the terms of the deal you signed with the PCP lender. You’ll also need receipts or bank statements that show your payments, and any emails or letters from the lender or dealership explaining the terms of the deal.

If you’ve lost any of these documents, Reclaim247 can help. They work with your PCP lender to retrieve missing paperwork so that you don’t have to worry about searching for it.

Having everything in order is essential because these documents will be used to support your claim for compensation. By putting together this information, you’ll have a strong case for reclaiming what you’re owed.

Submit Your Case to Reclaim247 for Review

Once you’ve gathered your paperwork, the next step is to submit your case to Reclaim247. They will carefully review your finance agreement to identify if you were mis-sold a PCP deal by PCP lenders. This might include spotting hidden fees, unclear terms, or unfair charges that weren’t properly explained.

When you submit your details, Reclaim247 will also ask you to confirm if you would like their partner, Bott & Co, to represent you in the claim process. If you decide to move forward with Bott & Co’s representation, you will need to agree to and sign their terms and conditions. This is a crucial step in formalising the claim.

Bott & Co are experts in handling mis-sold car finance claims, and once you’ve signed, they will start working on your case. By doing this, you ensure that your claim is handled professionally, and you’ll be kept in the loop as the process moves forward.

How Reclaim247 Negotiates with Lenders on Your Behalf

After you’ve agreed to Bott & Co’s terms, they will take the lead in negotiating with your PCP lender. This is one of the key benefits of working with Reclaim247 and Bott & Co. They handle all communication with your lender, ensuring that your claim is properly presented and that your rights are protected. The team will send formal letters to your lender, explaining the PCP mis-selling and requesting a resolution in the form of compensation or refunds.

The negotiation process can be tricky, but you don’t need to worry about it. Bott & Co have years of experience in dealing with PCP lenders and are committed to securing the best outcome for you. They’ll handle all the back-and-forth discussions, so you don’t have to deal with the stress. Reclaim247 keeps you updated every step of the way, ensuring that you know what’s happening with your claim and how it’s progressing.

Receive Your Money Back

Once Bott & Co have successfully negotiated your claim, you will be informed of the outcome, and the funds you’re owed will be sent to you. The compensation might include refunds for overpayments, cancellation of unfair charges, or adjustments to your PCP agreement. The exact amount will depend on the specifics of your case, but Reclaim247 ensures that everything is handled professionally and fairly.

You’ll receive your money after the settlement has been finalised, and the process is straightforward. Reclaim247 and Bott & Co make sure the compensation is delivered quickly and without unnecessary delays. This financial relief can make a big difference, especially if you’ve been overpaying for months or even years. With the support of Reclaim247 and Bott & Co, you can be confident that you’re reclaiming what’s rightfully yours.

What if the Lender Disputes the Claim?

If your PCP lender argues against your PCP claim, Reclaim247 and Bott & Co will take care of it for you. Bott & Co will talk directly to the lender to try and sort things out.

If the lender still refuses to settle, Bott & Co can take the case to the Financial Ombudsman Service (FOS), a group in the UK that helps settle problems between people and financial companies. If needed, Bott & Co might also take legal action to make sure your rights are protected and you get the money you deserve.

With Reclaim247 and Bott & Co on your side, you don’t have to worry about dealing with the lender by yourself. They will handle everything for you.

Bottom Line

Reclaiming your money from PCP mis-selling doesn’t have to be complicated, especially with the support of Reclaim247. They take care of the hard work for you, from reviewing your case to negotiating with PCP lenders, so you don’t have to stress about it. If you think you’ve been overcharged or misled in your PCP agreement, now is the time to take action.

Reclaim247 makes it easy to start your claim, guiding you through each step and ensuring you get the compensation you deserve. Don’t let an unfair deal cost you more than it should. Reach out to Reclaim247 and begin the process of getting your money back.