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Thinking about claiming for mis-sold car finance but not sure where to start? You’re not alone. Many wonder whether they need to use a claims management company or whether they should do it themselves. The truth is that you most definitely can go it alone — but there’s a few things to consider first. In this article, we break down the pros and cons of handling a claim yourself vs. using a professional service (like Restitute Money Reclaim.)
What is a Mis-Sold Car Finance Agreement?
If you took out a PCP or HP car finance agreement between 2009 and 2024, you might be eligible to claim compensation due to mis-selling on the part of your broker or dealer. The main reason for a car finance refund is undisclosed commission. This means the dealer or broker was paid by the lender without telling you — which likely affected the interest rate you were offered.
The FCA banned this practice in 2021, and a review is now underway to decide how widespread the problem was and how consumers should be compensated. Claims are expected to increased once the claims window fully opens later this year.
Can You Claim for Mis-Sold Car Finance Yourself?
Absolutely. In fact, lots of people have successfully submitted their own car finance claims without using a claims management company or solicitor.
If you’re comfortable writing a formal complaint to your lender(s) – and possibly chasing up responses – there’s nothing stopping you from doing it yourself — this will ensure you retain 100% of any refund you’re owed too which is obviously a huge plus. As always, Martin Lewis is at the forefront of helping consumers who wish to take this route.
While you don’t need expert help, some people choose to use a claims management company or solicitor for peace of mind, especially if:
They don’t remember who their lender(s) were ✖ï¸
They feel unsure navigating financial documents or industry regulations ✖ï¸
They don’t have their agreement anymore ✖ï¸
They simply don’t have the time to claim themsevles ✖ï¸
Experts can assess your claim, gather evidence, and deal with lenders on your behalf — but it’s not essential.
Also, using a service like Restitute (and our free soft credit check) ensures you’ll find all of your car finance agreements going back as 2007!
What Are the Pros and Cons of Claiming Yourself?
Pros Cons It’s free to complain directly to the lender and to the Ombudsman It can take time to gather paperwork and draft a formal complaint You keep 100% of any compensation awarded You may need to follow up or escalate if the lender doesn’t respond You’re in control of the whole process It can be harder to know what a “fair†outcome looks like
Summary: You Have Options
There’s no “right†way to claim for mis-sold car finance/PCP. You can do it yourself, or you can get support — it just depends on what works best for you.
Either way, it’s worth checking. Thousands of people could be owed money — and the process is more straightforward than many think!
