What is a PCP Claim?
Personal Contract Purchase (PCP) finance plans are becoming increasingly popular in the UK as a way to purchase a vehicle. The greater monthly payments are made to obtain the car and at the end of the contract the customer has the choice to either hand back, exchange, or retain the vehicle by paying an additional charge known as the final balloon payment. Yet, what many fail to understand is that there exist laws that guard clients against unfairly sold PCP contracts. If you have been left wondering about the clauses of your PCP, then a PCP claim can assist you in finding answers. Legal Assist have dedicated themselves in ensuring clients reclaim money that they may have lost through mis-selling of their PCP agreements.
Why PCP Claims Are Important
Had the various terms, fees or interest of the PCP contract been made clear to you, and it wasn't, then this may give sufficient grounds for filing a PCP claim. The film industry has been plagued by such charges for decades, leaving many in shock at the bills that may be within reach. Thankfully there is assistance, with Legal Assist’s assistance, everyone can enjoy peace of mind.
PCP Agreements: Mis-Selling
Specific Ways in Which Mis-Selling has Occurred
Usually, mis-selling occurs when certain important aspects of the PCP agreement remain untold. Here's how dealers could try to persuade you to take up a PCP:
Failure to provide Financial Guidance: A comprehensive briefing on what these finances entail is rarely the case.
Concealed Charges: Loyalty to consumers applies only once and there always are some additional costs that reach more than it should.
Lurking Costs or Conditions: Some important costs or conditions might be buried in complex language or vague terms.
Legal Assist makes it possible for you to examine these tactical measures to establish if any markings have been used to mislead you.
What Criteria Should You Follow in Order for You to Have a PCP Claim?
It is often hard to say whether your contract for the PCP was mis-sold or otherwise. Nonetheless, Legal Assist does support its clients in this regard by taking into consideration factors like:
What was the explanation regarding the monthly payments and final payment that needs to be made?
Was there any attempt to push extra fees or charges through the contract?
Was the dealer explicit regarding the interest and future costs?
If these conditions weren't met, you might be eligible for a PCP claim.
How to Carry out a Lawyer Compensation Claim Under PCP Using Legal Assist
Step 1: Understand the PCP Agreement Requirements and Make Sure You Have the Relevant Documents
The first step consists of collecting all documents pertinent to the PCP agreement. Legal Assist shall scrutinize the contract, crosscheck payment, and look for communication made with the dealer.
Step 2: Meet Legal Assist for the First Time
When you submit the documents, clients will receive initial consultations from our spearhead. This encompasses recognizing some of the issues existing within your PCP contract, such as unannounced fees or terms that might fit in this category.
Step 3: Determining the Amount of Refunds
They will carry out the second task of looking into the economic loss due to this mishandling and thus identify the possible value of the damages that you may seek.
Step 4: Fill In Relevant Details and Attach Relevant Documents to the Legal Forms
If it is applicable, we will assist you to raise a claim from the relevant parties and be sure that all the process has been properly observed.
Step 5: Legal Negotiation with the Opposite Party’s Lawyer
Representing the Financial Lender Institutions or Banks Relevant in the Case. Communication Can Be By Email or Phone Sometimes this is more effective than the courts.
Legal Assist has competent professionals in negotiation who are able to reach out to lenders or financial institutions on behalf of their clients. We hope to get the best result without trial.
The Importance of Seeking Help from Legal Assist
When Legal Assist employees are on the job, they are survivors who know the critical details of a PCP claim. Our policies include:
Openness: You'll have all the information relating to your claim including what the merits of the claim and costs involved might be.
Time-Saving: We take away every activity comprising this process to guarantee your time is not wasted and your stress is minimized.
Contingency Fee: For the costs of engaging us to represent you, legal aid is not paid in advance. Only when we win your case do you pay. Legal Assist is designed to operate this way in order to protect you from headaches.
The Money Variations Caused By A PCP Claim Filing
It is true that filing a claim under PCP can serve to assist you in getting back money that was wrongfully taken from you. Settled clients are known to get back the initial deposit, the interest charges, and the shock fees.
About Many People In Miscommunication Respecting PCP Claims
Many argue in vain that it is pointless to file a claim under PCP because the contract was willingly signed. All UK sales transactions of this nature on financial products must always be cloaked in full and proper information and representation. Legal Assist will be able to resolve these issues comprehensively so that you know what your rights are.
The Role of Legal Assist in the Steps of Your PCP Claim
Personalized Consultations
All the Physicians and Service Providers are saying that PCP claims are so arbitrary. Therefore, our team offers you case-specific tailored advice that will help you to appreciate all possible options that are on the table in your case.
Deep Knowledge of Consumer Rights
Our knowledge in this area allows us to effectively handle misrepresentation claims’ cases including cases involving complicated financial contracts such as PCP.
Handling Financial Institutions
Legal Assist has successfully handled cases against top class financial bodies and understands the kinds of details that are in play.
Factors That Can Strengthen Your PCP Claim
In the case of filing a case for PCP with Legal Assist, there will be professional help in building a strong case. There are some of the factors that maybe add more strength towards your claim such as.
Documentation: They state that clean and neat transfer of funds for all payments made as well as the fees charged should be well documented.
Correspondence Records: Any exchanges that had been made with the dealer in which some of the particulars were neared or some were stated in the wrong context can be potential evidence.
Witnesses: There are some occasions when either the witnesses or the staff members at the dealership will affirm whether or not some terms were deferred or ambiguous.
What is the duration of a PCP Claim?
Each cover plan has its important conditions so a standard timeline for a PCP claim can take anywhere between a few months and over a year. Since Legal Assist are professionals in these matters, it is our aim to ensure that your claim is completed as soon as possible, whilst adhering to all required procedures.
Frequently Asked Questions on PCP Claims
Is there a time limit for making a claim for a PCP agreement that was entered into many years ago?
In many cases yes, agreements upheld under the PCP are concluded to be effective for a 6 year period. Legal Assist can help ascertain your eligibility based on the date and particulars of the said agreement
Where can I find information about what compensation I may be entitled to as a result of a PCP claim?
It ranges significantly, but there are certain types of compensation such as over payments, unfair charges and in some cases, interest reimbursement.
What are the charges for seeking a PCP Claim through Legal Assist?
Legal Assist operates on a no-win, no-fee basis, so you need to pay only when your claim is won.
What is the procedure if my PCP claim is rejected?
If the first claim is rejected, Legal Assist will assist in the appeals as alternative ways to pursue the case will be provided.
Will the act of filing a PCP claim affect my credit score?
Your credit score would typically not be affected by a PCP claim. You can find detailed information on how to deal with any financial repercussions further down.
It is Legal Assist’s mission to help consumers get back money they are unfairly deprived of due to the PCP agreements. Our mission revolves in honesty and transparency, and a strong focus on our clients. Contact us for a free consultation regarding PCP claim and reclaim what is rightfully yours.
