PCP Finance Mis Selling FAQ's
Personal Contract Purchase (PCP) is effectively a personal loan which allows drivers to spread the payments for a vehicle over a long period, typically two or three years.
However, unlike a normal personal loan, you won’t be paying off the full value of the car and you won’t necessarily own it at the end of the dea, unless you choose to pay the final balloon payment.
PCP is one of the more complex financial products available to help you buy a car, but it can be broken down into three main parts: the deposit, the amount you borrow and the balloon payment.
Dealers offering PCP finance will typically want around 10% of the value of the car as a deposit. Customers pay a deposit on the car they want and then make monthly repayments until the end of the term.

HAS THE MIS-SELLING SCANDAL AFFECTED ME?
Maybe the financial company were misleading about the extra costs involved in your contract or how risky the deal would be - you can make a claim against these kinds of situations. If you were aware of the disadvantages or risks of a deal because your lender told you before the purchase, then you won’t be compensated.