Manchester, UK – January 19, 2026 – Car finance agreements made years ago are now being brought back into focus as more drivers across the UK begin asking the same question: was everything explained as clearly as it should have been?
According to Reclaim247, a growing number of motorists are using its free online eligibility checker to revisit Personal Contract Purchase (PCP) and Hire Purchase agreements. Many are discovering that they may have been mis-sold car finance, often without realising it at the time.
“People rarely question a finance deal after they’ve signed it, especially if they make the payments on time,” says Andrew Franks, Co-Founder of Reclaim247. “But the real issue isn’t how well you kept up with payments. It’s whether the agreement was fair and transparent from the start.”
Not Just a Monthly Payment
Car finance is often presented in simple monthly terms, but the full structure of the deal can be far more complex. Reclaim247 says many of the car finance claims it handles involve situations where:
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The interest rate was higher than expected, and the customer wasn’t told why
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A large balloon payment was included at the end, but not clearly explained
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The customer believed they were offered a choice of finance products, when only one was presented
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Commission was added to the deal without being disclosed
These are just some of the issues that have drawn increased scrutiny following recent reviews of the motor finance sector.
FCA Findings: Millions of Agreements Could Be Affected
The Financial Conduct Authority (FCA) has confirmed that car finance agreements signed between April 2007 and November 2024 are being reviewed due to widespread concerns around:
Discretionary Commission Arrangements
Where brokers could increase the interest rate to boost their commission
Unfairly High Commissions
Where the broker’s fees were excessive for the size or type of loan
Restricted Finance Choice
Where customers were led to believe they had a range of options, but were only shown a single product
Reclaim247 believes that many of these practices went unnoticed at the time, especially within PCP agreements.
PCP Agreements: Easy to Sign, Hard to Understand
While PCP finance often seems straightforward, Reclaim247 notes that many customers did not fully understand how their agreement worked, particularly what would happen at the end of the contract.
“It’s very common for people to realise years later that they never fully understood the final payment or how the interest was calculated,” says Franks. “That doesn’t make them irresponsible. It means the agreement may not have been sold clearly.”
This lack of clarity is a major reason why more drivers are now revisiting past deals to see if they were fairly handled.
No Paperwork? No Problem. Reclaim247 Makes It Simple
Drivers do not need to track down old paperwork or remember who their lender was. Reclaim247’s online eligibility checker only requires a name, address, and date of birth. The system searches for any finance history and checks for signs of mis-selling.
If a potential issue is identified, the driver is referred to a regulated legal partner to explore next steps. There is no cost to begin and no fee unless compensation is recovered.
Multiple Agreements? Each One Counts
Many drivers have taken out more than one car finance agreement over the years. Even if the vehicle has since been returned, sold, or traded in, the original agreement may still qualify for review.
Reclaim247 encourages drivers not to assume that only their most recent deal is relevant. Every agreement is worth checking.
To find out if you could have a claim, visit Reclaim247 website.
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Free check
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No documents needed
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No upfront cost
About Reclaim247
Reclaim247 is one of the UK’s leading consumer claims services, helping motorists explore potential car finance claims and PCP claims. Known for its supportive, no win no fee approach, Reclaim247 simplifies the process of checking eligibility and managing claims related to mis-sold car finance.
Media Contact
Company Name: Reclaim247
Contact Person: Andrew Franks
Email: Send Email
Country: United Kingdom
Website: https://www.reclaim247.co.uk/