Myth-busting: What you need to know about mis-sold car finance

Myth: You still need to own the car to put in a claim

You can still put a mis-sold car finance claim even if you no longer own the vehicle. If you have purchased a car on finance before 28 January 2021, you can make a claim whether or not you still own the car. This also means that if you have purchased multiple vehicles before that date, you can put in a claim for each vehicle and our expert team of lawyers will take care of the rest.

Myth: You need to know every single aspect of your finance agreement

Many people may look at claim guides and believe that they need to know all the information about your finance agreement and if you have owed several vehicles, it can be difficult to remember all the details. However, you don’t need to worry. For us to make a claim on your behalf, we only need your name, address, and car registration. Our expert team of lawyers will do the hard work on your behalf. If you are unsure on how to find previous car registrations, we have crafted an easy guide on ways to locate them.

Myth: The finance provider will never pay out

On a case this monumental, many people believe that the finance providers will never pay out. However, that is not true and the FCA (Financial Conduct Authority) has said that if it finds consumers have lost money because of widespread misconduct made by the finance companies, it will make sure they get compensation in an orderly and efficient way. In fact, Lloyds Banks has set aside £450 million to cover the potential costs. Though any potential pay out is uncertain, by filling out our claims form, we will endeavour to get you what you deserve.

Myth: You need to pay upfront to be part of the claim

No matter what anyone says, you should never have to pay upfront to be part of a claim. Any legitimate business will work on a no win no fee basis, so there will be nothing for you to pay up front.

At Slater and Gordon, we are car claims experts and are on hand to help with any queries you may have. For more information, contact us at carfinanceclaims@slatergordon.co.uk and our team will do their best to help you.