Regrettably, we are no longer taking
on any new cases for Mis-sold PCP Car Finance.
What’s the issue with buying a Volkswagen on a PCP finance agreement?
When buying a new or used car, customers often sign up to what is known as a Personal Contract Purchase (PCP) financial plan. Some Volkswagen PCP finance agreements may have been mis-sold by a dealership or their sales teams. If, when signing up to the finance agreement, commissions were not clearly explained to the customer, then this could have unknowingly inflated the price of the PCP agreement. This inflated price is sometimes referred to as a hidden commission.
Government-backed watchdog, the Financial Conduct Authority (FCA), has recently banned car finance deals where the car dealers and their sales teams could earn more commission if customers were signed up to a more expensive PCP financial plan. This would often happen without the buyer even knowing what commission the sales team received and meant that customers were unfairly paying more.