If you bought a car on finance, you could be eligible for a claim but to register, you will need your car registration and there are a few simple ways to find it.
Collective actions
How do you find old vehicle finance agreements
As the FCA’s investigation into hidden commission in car finance continues, car owners are hunting down their old financial agreements to uncover whether they’ve been mis-sold. Yet locating the details can be difficult years after the event. Here, we look at how you can find the details you need to make a claim.
The use of car finance agreements has continuously made many headlines in the past year, after the Financial Conduct Authority announced a new investigation into the use of discretionary commission payments. The practice has been banned since January 2021 but was used for years to include inflated commission payments in customer’s financial agreements.
What’s more, in October 2024, judges at the Court of Appeal ruled that any commission payment made to car dealers by lenders would be considered unlawful if the sum and terms of the commission were not fully disclosed to the customer.
This means the scale of the car finance mis-selling scandal could be far larger than originally thought, and thousands of motorists could be entitled to compensation.
However, knowing that your vehicle was purchased on finance many years ago and being able to provide details of the agreement made are two very different things, and many are struggling to locate the details of finance agreements nearly a decade old.
How to find the details of your past car finance agreements
If your vehicle is still under finance, locating the details of your contract should be straight forward, even if you don’t have access to a paper copy. For instance, many lenders will provide access to documentation online for as long as your financial agreement is active, as well as sending a digital copy of your agreement via email. If you don’t have access to either of these, you can also contact your lender directly and they will be able to send you a copy.
If you took out your car finance a long time ago, it can be a different story, and the ease with which you can track down the details will vary. This is because lenders are only obligated to retain the details of your financial agreement with them for six years, so any agreement older than that might be difficult to track down if you don’t personally own a copy. That’s not to say they won’t have access to the agreement however, so if you are able to reach out to them, it is always a good idea to try.
For any car finance deals within the last six years, if you don’t have the details of who the finance was with, look at your credit report. Any financial agreements you’ve taken out in the last six years will be listed there, including the name of your lender.
I’m struggling to find my details – is there an easier way to locate my agreements?
Even if you know where to look, it can be incredibly time consuming to locate your agreements and decide whether you think they are eligible for mis-sold finance compensation.
At Slater and Gordon, we’re here to help. We can easily locate your past finance agreements and let you know in a matter of minutes whether we think you could be eligible for compensation.
Simply enter a few of your details in our search tool, and we’ll find your finance agreements for you.
How do I pursue a mis-sold car finance claim?
If you are looking to make a claim, we are here to help you secure the compensation you deserve. No bank or financial institution is above the law, and if you have been charged unfairly for hidden commission, you are entitled to recoup the money you have lost.
At Slater and Gordon, we supported the majority of claimants in the recent £193 million VW settlement in England and Wales, so you can rest assured that your claim is in safe hands with our collective action specialists.
To start your claim, enter your details to find your agreements.
Find out more from our experts
Collective actions
How you can find your previous car registrations
Collective actions
Myth-busting: What you need to know about mis-sold car finance
Mis-sold car finance has been all over the news recently and with a lot of technical jargon being used and many people spreading misinformation. So, we are going to bust some of the myths surrounding claiming back on your mis sold car finance
Collective actions
Mis-sold car finance claims
If you bought a car, van, caravan, motorbike, boat, plane or any other type of motor vehicle through a finance deal between 2007 and 2021, you could be one of the millions in the UK to be owed mis-sold finance compensation.
Enter your details to find out if you are eligible to claim compensation.
Commercial law
What is collective action?
When a lot of people are hurt, either physically or financially and whether it happens as a result of negligence or other incidents that are somebody’s fault then collective action is a legal solution that enables you to share risks, knowledge and rewards with others who are in the same boat. You benefit from having the strength in numbers to take on even the mightiest corporations.