PCP & HP car finance claims
PCP claims, explained — am I eligible for FCA redress?
PCP claims fall within the FCA’s motor finance redress scheme covering PCP and HP agreements taken out between April 2007 and November 2024. Around 12 million agreements may be in scope, with average compensation of £829. Check your eligibility in under a minute, see how the claim works, and decide whether to claim for free or use a regulated claims firm.
Key facts
- £7.5 billion
- redress scheme
- ~12 million
- agreements in scope
- £829
- average payout
- 30 March 2026
- scheme starts
Source: FCA PS26/3 (March 2026)
How it works
- 1
Check eligibility
Answer two quick questions to see whether your PCP or HP agreement is likely covered by the FCA scheme.
- 2
Decide: free route or claims firm
Claim yourself for free via your lender, or use a regulated claims firm — we explain the trade-offs.
- 3
Get your redress
Lenders begin paying out from late 2026; we’ll walk you through what to expect at each stage.
Key dates
April 2007 – November 2024
Agreements in scope
30 March 2026
FCA scheme confirmed
31 May 2026
Complaint pause lifts
From late 2026
Payouts begin
Source: FCA PS26/3 (March 2026)
Frequently asked questions
Am I eligible?
You may be eligible if you took out a PCP or HP car finance agreement between April 2007 and November 2024 and the dealer received a discretionary commission from the lender. The FCA estimates around 12 million agreements may fall within scope. Our eligibility checker gives you an indicative answer in under a minute.
How much could I get?
The FCA estimates an average payout of around £829, but individual amounts vary widely. The figure depends on your agreement value, the commission the dealer received, the interest rate uplift you paid, and how long the finance ran. Our compensation page walks through the building blocks.
Do I need to use a claims firm?
No. You can complain directly to your lender for free, and escalate to the FCA redress scheme or the Financial Ombudsman if needed. A regulated claims management company typically takes 15–30% of any award in exchange for handling the paperwork. We explain both routes so you can choose.
What is a DCA?
A Discretionary Commission Arrangement let car dealers set the interest rate on your finance and earn a higher commission for charging you more. The FCA banned the practice in January 2021. Its 2026 redress scheme covers historic agreements where DCAs were in place between April 2007 and the ban.
What if I don’t have my paperwork?
You don’t need it to start. Lenders are required to look up your agreement from your name, date of birth, and address history at the time the agreement was taken out. If you’re not sure who your lender was, your credit file (free from Experian, Equifax, or TransUnion) will list any motor finance agreements.
What’s the deadline?
The FCA paused complaint handling while it consulted on the scheme; the pause lifts on 31 May 2026. From then, the usual six-year limitation rules apply, alongside the scheme’s own deadlines. We’ll update this page as the FCA confirms the final claim window.
Ready to check?
It takes under a minute. We won’t ask for personal details up front — just two questions about your finance.
Check my eligibility