Mis-sold Car Finance – PCP

We’re an independent PCP (personal contract purchase or personal contract plan) finance blog. We’re here to inform and post all about PCP finance (PCP misselling), deals and give case examples of what to watch out for when buying to avoid being missold PCP.

According to the National Association of Commercial Finance Brokers (NACFB), there were approximately one million PCP agreements made last year. There are no statistics (yet) to tell us how many of those may be subject to a mis-selling investigation, but even if that figure is as low as 10%, that’s still a huge number of people affected. The crux of the matter is really rather simple: were people told that they would end up paying more interest through a PCP agreement than they would through a traditional hire purchase agreement? Or that the ‘value’ of the car would be more at the end of the deal?