12 September 2024, Cheltenham, UK – As consumer awareness around financial mis-selling continues to rise, Sentinel Legal, a prominent consumer rights law firm, is bringing attention to a growing issue that echoes the infamous PPI scandal and the pivotal Plevin case: Personal Contract Purchase (PCP) motor finance agreements. With 90% of new cars sold through dealerships using PCP finance, this potential mis-selling crisis could be just as far- reaching as PPI.
With a growing number of consumers unknowingly caught in complex contracts with
undisclosed commissions, Sentinel Legal is stepping up to provide the expert guidance
needed to navigate these claims and secure the compensation consumers deserve.
PPI, Plevin, and PCP: A Common Thread of Mis-selling
The Payment Protection Insurance (PPI) scandal saw millions of consumers reclaim billions in compensation after being mis-sold policies they didn’t need, were not suitable or eligible for, or they were not aware they had them. The landmark 2014 Plevin ruling further expanded these claims, allowing consumers to seek compensation when a significant portion of their PPI premium was an undisclosed commission.
Fast forward to today, and a similar pattern is emerging in PCP motor finance agreements. Like PPI, many of these agreements involve hidden commissions paid to brokers or dealers—commissions that were never disclosed to consumers. This lack of transparency can render contracts unfair, leaving thousands of consumers unknowingly bound to unfavourable terms.
Sentinel Legal: Your Advocate in the Fight Against Financial Mis-selling
Sentinel Legal has identified key parallels between PPI/Plevin and PCP claims, particularly:
Undisclosed Commissions: As with the Plevin case, many PCP agreements involve
commissions paid to brokers or dealers that were not disclosed to consumers. These
hidden commissions can mean the contract is unfair and form the basis for a claim.
Widespread Mis-selling: Both PPI and PCP products have been mis-sold to
consumers, with misleading terms and conditions that are often buried in complex
contracts.
Complex Agreements: PCP contracts, like PPI policies, are often complex and
difficult for the average consumer to understand. This complexity can result in
consumers agreeing to terms that are not in their best interest.
Expert Guidance and Support from Sentinel Legal
With extensive experience in financial mis-selling cases, Sentinel Legal is uniquely positioned to assist consumers with their PCP claims. The Company offers the following services:
Expertise in Financial Mis-selling: With a deep understanding of financial
institutions´ tactics in PPI and PCP agreements, Sentinel Legal is well-equipped to
identify potential violations and build strong compensation cases.
Thorough Claim Evaluation: The firm conducts comprehensive reviews of PCP
agreements to determine if consumers were unfairly charged or misled. The
evaluation process is transparent, helping consumers understand the strength of
their claim.
Risk-Free Legal Support: Sentinel Legal offers a no-win, no-fee service, allowing
consumers to pursue their claims without financial risk.
Personalised Support: Committed to clear communication and personalised support, Sentinel Legal guides consumers through every step of the claims process, making it as straightforward and stress-free as possible.
Sam Ward, Director, Sentinel Legal commented:
“With years of experience fighting car finance companies, we have successfully recovered over £250,000 in compensation for our clients and have been contributing to the FCA´s investigation by providing crucial evidence of mis-selling practices we have uncovered over the years.The potential for mis-selling and undisclosed commissions in PCP agreements could affect hundreds of thousands of consumers across the UK and the time to act is now.
If you suspect that you’ve been unfairly treated, it’s crucial to seek expert advice. We are here to help you understand your rights and guide you through the claims process."
