Motor Finance Compensation
Up to £4.2bn industry redress for mis-sold PCP and HP car finance agreements. Deadline: 31 August 2027.
Following the Supreme Court ruling in Johnson v FirstRand [2024] UKSC, the FCA has confirmed a mandatory redress scheme for discretionary commission arrangements. Check your eligibility in 60 seconds.
£4.2bn
Industry redress fund
£830
Average payout
31 Aug 2027
Complaint deadline
18
In-scope lenders
Am I eligible?
You had a PCP, HP, or conditional sale agreement
The agreement was between 6 April 2007 and 1 November 2024
A discretionary commission arrangement (DCA) was used
You were not clearly told about the commission
How EvenStance helps
Check eligibility
Enter your agreement dates and lender. We check against the FCA's 18-lender scheme list.
Generate your complaint
Frank AI drafts a complaint letter citing CCA 1974 s.140A-C, FCA CONC 4.5, and the Johnson v FirstRand ruling.
Track and escalate
If the lender does not respond within 8 weeks, escalate to the Financial Ombudsman Service (max £445,000).
Legal basis
Johnson v FirstRand [2024] UKSC: The Supreme Court ruled that discretionary commission arrangements (DCAs) created an unfair relationship between lender and borrower under s.140A-C of the Consumer Credit Act 1974.
FCA PS26/3: The FCA has confirmed a mandatory redress scheme covering all PCP and HP agreements with DCAs between 6 April 2007 and 1 November 2024. Lenders must proactively contact affected customers.
FCA CONC 4.5: Commission disclosure requirements. The FCA found widespread failure to disclose commission arrangements to consumers.