Why You Don't Need a Claims Management Company (CMC)
CMCs take up to 30% of your refund for doing very little work. Learn why doing it yourself is the smarter financial choice.
Key Takeaways & Core Claims
- CMCs take up to 30% of your refund for doing very little work. Learn why doing it yourself is the smarter financial choice.
- 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.
Claims Management Companies (CMCs) are advertising heavily right now. They promise a "no win, no fee" service, which sounds great, until you realise the "fee" is a massive chunk of your money.
The Math
Let's say you receive a refund of £3,000.
- DIY: You keep £3,000.
- CMC: They take 30% + VAT. That's roughly £1,080. You keep only £1,920.
What Do CMCs Actually Do?
They take your details, put them into a template letter (just like ours), and email it to the lender. That's it. They don't have special "legal powers" to force a lender to pay faster.
The "Hassle" Factor
CMCs argue they save you hassle. But you still have to find your paperwork and give them your details. Entering those details into our free tool takes the same amount of time as giving them to a CMC.
Keep Your Money
The process was designed by the FCA to be accessible to consumers. You do not need a lawyer or a CMC. Keep your hard-earned money in your own pocket.
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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