Have you financed a Volkswagen vehicle in the UK? If so, you might be entitled to compensation due to hidden commissions within your finance agreement. Understanding your rights and exploring your options is essential to securing the justice you deserve.

Find out today if you qualify.

What Are Volkswagen Car Finance Claims?

Volkswagen car finance claims arise when consumers discover they were misled or not fully informed about key aspects of their finance agreements. This often involves lenders failing to disclose commissions paid to brokers or providing misleading information about loan terms and affordability.

By filing a claim, you can seek compensation for any unfair practices that may have affected your financial agreement.

How Could My Volkswagen Car Finance Have Been Mis-Sold?

Mis-selling can occur in several ways, and recognizing these can help you determine if you've been affected. Common issues include:

• Hidden Commissions:
  The Financial Conduct Authority (FCA) found that commission was included in approximately 95% of car finance agreements, with about 40% involving undisclosed "discretionary commission arrangements." These arrangements allowed brokers and dealerships to increase interest rates to earn higher commissions, potentially leading you to overpay without your knowledge. The FCA banned such practices in 2021.

• Inadequate Affordability Assessments:
  If your financial situation wasn't properly evaluated before the agreement was approved, you might have been sold a loan that was unsuitable for your circumstances.

• Misrepresentation of Terms:
  Incomplete or misleading information about interest rates, repayment schedules, or additional fees can indicate mis-selling.

• Pressure Selling Tactics:
  Feeling rushed or pressured into agreeing to a finance deal without sufficient time to consider your options may be a red flag.

• Unsuitable Product Recommendations:
  If you were offered a high-interest loan despite qualifying for a lower rate, the product may not have been suitable for you.

• Failure to Explain Risks:
  Not being informed about potential risks, such as the impact on your credit score or the possibility of vehicle repossession, can also constitute mis-selling.

If any of these situations apply to your Volkswagen finance agreement, you may have grounds to make a claim.

Who Is Eligible for Volkswagen Mis-sold PCP Compensation?

If you financed a Volkswagen vehicle between 2014 and 2021, you may be eligible to claim via our legal panel. Although claims can extend as far back as 2007, our eligibility checker is designed to streamline claims for agreements within the last 10 years.

ClaimExperts.co.uk provides a free eligibility tool to help assess whether your agreement was impacted by hidden commissions or other mis-selling practices.

Can You Claim Against Volkswagen for Mis-selling Car Finance?

You cannot claim directly against Volkswagen for mis-selling. Instead, claims must be directed to the lender or financial institution that provided your finance agreement.

If the lender or broker failed to disclose commission arrangements, explain terms clearly, or assess your ability to repay, you could have a valid case.

How Much Could My Volkswagen Mis-sold Car Finance Claim Be Worth?

Compensation amounts vary based on the loan size, interest rate discrepancies, and the role of hidden commissions in increasing costs.

For example, FCA data indicates that discretionary commission models added an average of £1,100 in interest to a £10,000 loan over four years. Larger loans could lead to significantly higher refunds.

In cases reviewed by the Financial Ombudsman, customers have successfully recovered the difference between the interest rate they paid and a lower rate available at the time, plus interest.

How Can ClaimExperts.co.uk Help with My Volkswagen Car Finance Claim?

At ClaimExperts.co.uk, we specialise in assisting customers with mis-sold car finance claims. Here’s how we can support you:

• Free Eligibility Checker: Quickly determine whether you qualify.
• Expert Legal Panel: Your case will be matched with the most suitable legal expert from our network of trusted law firms.
• Simple Claims Process: We handle the complexities, making it easier for you to focus on recovering your funds.

Our resources, including free guides, are designed to help you navigate your claim with confidence. Take the first step today by using our eligibility tool to assess your case.

The Small Print

This claim is regulated by the FCA. You do not need to use a claims management company to make a car finance claim. You have the right to complain directly to the lender and use the Financial Ombudsman Service to seek redress for free.

Many legal claims, including this one, are offered on a No-Win, No-Fee basis to consumers. This means that if your claim is unsuccessful, you will not be responsible for any costs to the solicitor.

It is important to note that there may be a cancellation fee if you cancel your claim with a panel member after the cooling-off period, which is 14 days.

The No Win, No Fee Success Fee charged by the solicitor is based on which expert panel member we refer you to. The maximum the legal panel will charge as a success fee is 36% inc. VAT.