Financed a car before 2021? Hidden commissions in car finance agreements may have led you to overpay unknowingly. If you took out PCP (Personal Contract Purchase) or HP (Hire Purchase) finance between 2007 and 2021, you could be entitled to claim back thousands in compensation.
Check if you’re eligible for free with the Mis-sold Car Finance Payout Calculator.
How Long Does a PCP Claim Take?
The timeline for a PCP claim varies based on lender response times and case complexity. On average, claims take 8 to 16 weeks, but some may take longer due to ongoing FCA investigations. If the lender delays or disputes the claim, it could extend beyond this timeframe.
PCP Claims Timeline Breakdown
Step 1: Submitting Your Claim (1 to 2 Weeks)
Once you complete the online form, your claim gets assessed. The team gathers necessary documents, including finance agreements. This stage usually takes 1 to 2 weeks, depending on document availability.
Step 2: Lender Response (4 to 8 Weeks)
The lender must investigate your complaint and respond. Many lenders take between 4 to 8 weeks, but the FCA’s ongoing review has led to delays. If a lender agrees to settle, compensation is usually processed within two weeks.
Step 3: Escalation to Financial Ombudsman Service (Up to 6 Months)
If the lender rejects your claim, you can escalate it to the Financial Ombudsman Service (FOS). The FOS review typically takes up to 6 months, depending on backlog and case complexity. Many claimants win at this stage, leading to successful payouts.
FCA Update: Extended Deadline for Complaint Handling
The Financial Conduct Authority (FCA) has extended the pause on motor finance complaint handling deadlines until 4 December 2025. This means lenders have more time to process claims, potentially causing delays. If you’ve already submitted a claim, expect slower responses due to this extension.
What Affects the Speed of a PCP Claim?
Several factors impact claim duration:
- Lender workload – High complaint volumes slow processing times.
- FCA regulations – Ongoing investigations create industry-wide delays.
- Complexity of case – If additional evidence is needed, processing takes longer.
- Ombudsman involvement – If a case escalates, resolution may take months.
Should You Start a PCP Claim Now?
Yes, despite the delays, starting your claim early gives you an advantage. Claims take time, and as more people apply, processing queues grow. If you wait, your case may take even longer.
Start your PCP Claim calculation today before deadlines change again.
What Happens After a Successful PCP Claim?
If your claim succeeds, you’ll receive a refund for overpaid interest and fees. The amount varies depending on loan terms and commission charges. Some claimants recover thousands of pounds, making it worthwhile to pursue. Once your refund is approved, payments typically take 2 to 4 weeks to reach your account.
Final Thoughts
The PCP claims process isn’t instant, but the potential payout makes it worth the wait. With the FCA’s deadline extended, lenders are taking longer to respond. If you believe you were mis-sold a finance agreement, don’t delay your claim. The sooner you start, the faster you can receive what you’re owed.
Check your eligibility now for free and start your PCP claim today.
