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Mis-sold Audi Finance Claims
If you took out a finance agreement when you purchased your Audi you may have been mis-sold and could be entitled to thousands in compensation. Find out today from our panel of expert Mis-Sold Audi PCP Car Finance Solicitors if you are eligible to claim.
Unfortunately, car finance mis-selling is becoming more prevalent in the UK, with thousands of unsuspecting customers potentially paying over the odds for finance deals. These PCP agreements are used to finance Audi purchases, but many customers have not been informed about the commission that was paid to the salesperson which could have unfairly raised the cost of the agreement.
Our expert panel of mis-sold Audi car finance solicitors are looking to put this right. They can inform you whether you are eligible to claim compensation for the mis-selling, and your next steps if you do have a valid claim. This compensation could be worth thousands, and aims to put you back in the financial position you were in before you signed the agreement.
The mis-selling of Audi car finance deals may have happened to you in a number of ways. The salesperson may not have disclosed their commission, or they may have used high-pressure sales tactics to get you to sign. This agreement might have left you out of pocket and may have not been suitable.
If you believe you have been mis-sold your Audi PCP car finance agreement, get in touch with our expert panel of solicitors today. If you used PCP or HP to finance a vehicle between 2007 - October 2019, you could be owed thousands. Find out if you can claim compensation via a No Win, No Fee compensation claim.
What Are Audi Mis-Sold Finance (PCP) Claims?
PCP agreements are often used by customers in the UK who are looking to buy a car but do not have the cash to pay the whole cost upfront. They are a type of finance agreement that will be paid off over time.
Audi salespeople receive commission on the majority of these deals from the lender, as a reward for bringing the customer to them. In fact, an FCA report found that commission was paid on 95% of the UK car finance agreements that they analysed. However, the customer is very rarely told about this commission, and it actually increases the cost of the finance agreement.
If you were not informed about all of the costs involved in a finance agreement, this is a financial mis-selling. The FCA report also found other ways in which people were being mis-sold, like inflated interest rates, unfair end-of-agreement balloon payments, and a lack of affordability checks performed meaning the deal might not be suitable.
An Audi mis-old finance PCP claim looks to address this mis-selling by file a complaint against the lender. If our panel can prove that you have been mis-sold, you could be owed thousands in compensation from the lender.
What are the most common types of Audi Mis-Sold Car Finance Claims?
Our panel of expert mis-sold Audi finance solicitors regularly see a number of mis-selling claims. These include:
- Undisclosed commission
- High interest rates
- High-pressure sales tactics
- Lack of affordability checks
- Inflated prices and balloon payments
- Diesel emissions scandal
The most common reason, however, is the undisclosed or hidden commission. The finance provider must clearly detail all charges and fees when presenting the finance agreement. If this commission was hidden or undisclosed, that is breaking financial regulations.
If you believe you have been affected by any of the above mis-selling issues, get in touch with our expert panel. They can inform you whether you have a valid No Win, No Fee claim.
What can you claim compensation for?
The compensation claimed through a claim of this nature is intended to return you to the financial position you were in before you took out the agreement. The agreement can also be cancelled without any fees or charges from the lender.
The Financial Services Compensation Scheme can also compensate you if the finance lender no longer exists and cannot repay you.
Who can claim Audi Mis-Sold PCP Compensation?
If you bought an Audi vehicle using a PCP car finance agreement in the last six years, you could be eligible to claim. You may be eligible if:
- You purchased your car via car finance/PCP agreement
- This happened between January 2007-October 2019
You can also claim for multiple cars through one form using our eligibility checker.
Our expert panel of mis-sold Audi car finance solicitors will also look for some key factors when deciding whether you have an eligible claim or not. These include whether the salesperson at the time did any of the following:
- Didn’t explain in detail the finance deal they sold to you
- Did not tell you about any commission they would receive from the deal
- Did not present all of the finance options available, including explaining all of the differences
- Didn’t explain the interest rates charged for all loan options and how they may differ
- Failed to offer the best interest rate available to you
- Sold you a financial package that was unaffordable
- Didn’t make it clear who was financially responsible for the repairs to the vehicle
If any of the above rings true to you, you may be eligible to bring forward a mis-sold Audi car finance claim.
How is Audi Mis-Sold Car Finance Compensation calculated?
Each claim of this nature is different, as each car finance agreement will vary. However, there are some general rules that our panel factor in when determining how much compensation you could receive. These include:
- The size of the loan – the larger the loan, the more you’ll be owed
- When you signed up – the longer you have been paying the loan off, the more you’ll be owed
- The interest rate and the difference between the rate you should have been quoted
The panel of solicitors at ClaimExperts.co.uk will be able to tell you how much you could look to recover if you are eligible.
How much does it cost to make an Audi mis-sold car finance claim?
Bringing forward a mis-sold Audi car finance claim will cost you nothing. Our panel offer a free, no-obligation review of your case to determine whether you are eligible or not. After this, they work on a No Win, No Fee basis, meaning you will only ever pay their legal fees if you are successful.
How Can We Help?
Have you been mis-sold your Audi car finance agreement? Let our expert panel assist you in bringing forward a claim for compensation.
If you used PCP or HP to finance a vehicle between 2007 - October 2019, our expert panel of Audi finance agreement solicitors are able to tell you whether you have a valid claim and, if you do, assist in bringing forward the claim against the car finance lender. They are holding car finance lenders accountable for this mis-selling, while also getting you compensation.
Fill out our easy-to-use eligibility checker today to see if you can claim. You can claim for multiple vehicles.
Ready To Get Started?
ClaimExperts.co.uk provides a free educational service to the public, and connects potential claimants with pre-vetted legal firms operating on our panel.
Our panel of legal firms all:
- Operate on a No-Win, No Fee Basis
- Require No Upfront Fees
- Are Regulated by either the FCA or SRA
Start your claim today by completing the quick enquiry form below.
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The No Win No Fee Success Fee is based on which expert panel member we refer you to. Our panel currently consists of a number of law firms, which can also be found on our Terms & Conditions. The No Win, No Fee varies, but is generally between 25%- 50%+VAT. We do not have a termination fee for any of our legal claims.