• You are eligible if your finance deal was either PCP (Personal Contract Purchase) or HP (Hire Purchase). Vehicles bought on a lease contract are not eligible.
• The FCA anticipate average refunds of around £700 per finance agreement - but many drivers have had more than one agreement, with some finding three or more, meaning potential payouts can run into the thousands.
• Source: FCA Press Release - https://www.fca.org.uk/news/press-releases/14m-unfair-motor-loans-compensation-proposed-scheme
• Where the service is offered at No win no Fee this means that a customer will typically pay 30% + VAT 36% including VAT of any amount recovered by a panel solicitor although this will be subject to your individual circumstances and the actual fee may be less than this, but it will never be more.
• A cancellation fee may apply outside the 14-day cooling-off period.
• The FCA has confirmed plans for an industry-wide motor finance compensation scheme expected in 2026. They are expected to announce the scheme in February/March 2026. All complaints have been put on pause until the scheme comes into effect. It will cover car finance agreements taken out between April 2007 and November 2024, with average payouts estimated at around £700 per agreement. For more information, please visit the FCA website. This does not stop you from starting your claim today.
Copyright © 2026 reclaim-online.co.uk. All rights reserved.
Reclaim Online is a trading style of Blue Panda Finance Ltd (company number 08668345). Blue Panda Finance Ltd is authorised and regulated by the Financial Conduct Authority (835515). ICO number ZA231443
Registered office: Suite 50, 792 Wilmslow Road, Manchester, M20 6UG. Registered In England & Wales.
reclaim-online.co.uk acts as an introducer for potential clients/customers to UK legal professionals or Claims Management Companies who are authorised and regulated by the Financial Conduct Authority. reclaim-online.co.uk's relationship with its partnered claims management companies is limited to that of a business partnership with no common ownership or control rights existing between us. We will receive a payment should your case be accepted by our partners. Please note, we will not charge you for our service.