Used Car Finance (Can You Still Claim?)
Used car finance agreements are highly likely to contain hidden commissions. Find out if you qualify to claim your refund today.
Key Takeaways & Core Claims
- Used car finance agreements are highly likely to contain hidden commissions. Find out if you qualify to claim your refund today.
- The FCA motor finance redress scheme applies to agreements taken out between April 6, 2007, and November 1, 2024.
- Generating a formal complaint letter directly to your lender secures your right to a refund and keeps 100% of the payout.
There is a misconception that DCA claims only apply to shiny new cars bought from main dealerships. In reality, the used car market was the "Wild West" of discretionary commissions.
Why Used Cars Are High Risk
Independent used car dealers often relied heavily on finance commissions to boost their margins on lower-value vehicles.
- Higher Rates: Used car finance typically carries higher APRs (10-20%) compared to new car finance (3-7%).
- More Discretion: With higher rates, there was more "wiggle room" for dealers to add markup.
Sub-Prime Lenders
Many used car buyers were directed towards "sub-prime" lenders if they had imperfect credit. These lenders often paid the highest commissions to brokers to secure the business, meaning vulnerable customers were hit the hardest.
Can I Claim?
Yes. The rules are exactly the same.
- PCP or HP agreement?
- Before Jan 2021?
- Dealer arranged?
If yes, you can claim, regardless of whether the car was a £5,000 Ford Focus or a £50,000 Range Rover.
Simeon Onaola
Founder, consumer rights advocate, and motor finance specialist. Dedicated to helping UK motorists challenge undisclosed discretionary commission arrangements and claim their rightful refunds.
Disclaimer: This content is for informational purposes only and does not constitute legal or financial advice.
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