If you financed a Volvo vehicle in the UK, you might be entitled to compensation due to hidden commissions associated with your car finance agreement. Mis-selling practices, including undisclosed broker fees, could mean you overpaid without realising it. Understanding your rights and reviewing your options is essential in ensuring you receive the justice you deserve.

Act now to find out if you qualify.

What Are Volvo Car Finance Claims?

Volvo car finance claims are legal actions taken by customers who believe they were misled about their finance agreements. Mis-selling often occurs when lenders fail to disclose commissions paid to brokers or dealerships, or when brokers provide inaccurate or incomplete information about loan affordability and terms.

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

Mis-selling can take many forms, and identifying these tactics is crucial to determining if you were affected. Some common issues include:

• Hidden Commission:
  According to the Financial Conduct Authority (FCA), nearly 95% of car finance agreements involved commission, with approximately 40% featuring “discretionary commission arrangements.” These hidden fees allowed brokers to inflate interest rates for higher commissions, often at the expense of consumers. This practice was banned by the FCA in 2021.

• Inadequate Affordability Checks:
  If the finance provider failed to assess your ability to repay, you might have been sold an agreement unsuitable for your financial circumstances.

• Misrepresentation of Terms:
  Were the interest rates, repayment schedules, or additional fees clearly explained? Misrepresentation or incomplete information could indicate mis-selling.

• Pressure Selling Tactics:
  Feeling rushed or coerced into signing a finance agreement without fully understanding the terms or exploring other options is a red flag for mis-selling.

• Unsuitable Loan Products:
  If you were offered a high-interest loan despite qualifying for lower rates, it could mean you were sold a product that didn’t meet your needs.

• Undisclosed Fees or Charges:
  Hidden costs not disclosed during the agreement process may entitle you to compensation.

• Failure to Explain Risks:
  Risks such as the potential impact on your credit score or the likelihood of repossession should have been outlined clearly. If they weren’t, this could constitute mis-selling.

If any of these issues resonate with your Volvo car finance experience, you may have grounds for a mis-selling complaint.

Who Is Eligible for Volvo Mis-sold PCP Compensation?

If you financed a Volvo vehicle between 2014 and 2021, you might be eligible to claim through our legal panel. While claims can sometimes go back as far as 2007, our eligibility checker focuses on agreements made within the last decade to simplify the process.

Our free eligibility tool helps assess whether your agreement was affected by hidden commissions or other mis-selling practices. Don’t miss the chance to determine your eligibility quickly and easily.

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

It’s important to note that Volvo itself does not handle compensation claims. Instead, claims must be directed toward the bank or lender responsible for financing your vehicle.

If your loan terms weren’t clearly explained or the lender failed to disclose commissions, you could have a valid case for compensation.

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

Compensation amounts depend on factors such as the loan size, the role of hidden commissions, and discrepancies in interest rates.

For instance, FCA data shows that consumers overpaid by an average of £1,100 in interest on a typical £10,000 loan over four years due to discretionary commission models. Larger loans could result in even higher refunds.

In previous rulings, the Financial Ombudsman has ordered lenders to refund the difference between the rate charged and a more competitive rate available at the time, plus interest. For example, a customer financing a £7,619 vehicle at 5.5% interest (despite a lower available rate of 2.49%) was refunded £1,147 in commission plus additional interest.

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

At ClaimExperts.co.uk, we are committed to helping you navigate the claims process with ease. Here’s how we support you:

• Free Eligibility Checker: Quickly find out if you qualify.
• Expert Legal Panel: Your case will be matched with the best-suited legal professional from our trusted network of law firms.
• Comprehensive Support: We handle the complexities, so you don’t have to.

Additionally, our free guides offer valuable insights to help you understand your claim better. Don’t wait—use our eligibility checker today and take the first step toward securing the compensation you deserve.

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.