Understanding Car and Van Finance: Identifying Mis-Selling and Your Rights
Clarity on Costs and Contracts: Understanding the fine print of your car finance agreement is crucial. While you're responsible for...
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Welcome to Mis Sold Van Finance
INITIATE A CLAIM FOR VEHICLE FINANCING TODAY WITH A NO-WIN NO FEE APPROACH
RECLAIM WHAT RIGHTFULLY BELONGS TO YOU WITH THE SUPPORT OF OUR EXPERTS.
Countless UK consumers might have experienced mis-selling in vehicle financing, resulting in increased interest rates and undisclosed fees. The FCA report uncovered evidence suggesting that consumers in vehicle financing may have faced excessive charges and deception during the arrangement of their financing agreements.
WHAT IS MISSOLD CAR AND VAN FINANCE?
The widespread mis-selling of car and van finance has affected countless buyers in the United Kingdom. Behind many van finance claims lie concealed commissions and ineffective credit checks, often resulting in elevated interest rates.
Prior to 2021, salespeople at van dealerships dictated interest rates on loans, earning higher commissions with elevated rates—a misaligned incentive system. On January 28, 2021, the Financial Conduct Authority (FCA) banned these commissions, estimating an annual cost of £300 million to consumers.
POSSIBLE MIS-SELLING INDICATORS IN YOUR VAN OR CAR FINANCE AGREEMENT
Lack of Explanation on Salesperson's Commission
The commission earned by the salesperson from your agreement wasn't adequately disclosed.
Incorrect Explanation of Interest Charges
The salesperson who facilitated the contract failed to provide a proper explanation of the interest charges.
Unclear Ownership Details
The dealership neglected to clarify whether they or a third-party finance company owns the van.
Ambiguity in Financial Responsibility for Repairs
The salesperson did not make it transparent who bears the financial responsibility for vehicle repairs.
Limited Exploration of Financial Options
You were not guided through a comprehensive range of options, potentially missing out on alternatives that could have been up to 50% more cost-effective than a PCP deal.
If you've encountered these issues, explore your options for potential compensation. For personalised assistance, start your claim at www.missoldvanfinance.com.
NAVIGATING VAN FINANCE CHALLENGES: INSIGHTS AND SOLUTIONS
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