PCP Claims Without a CMC — Keep 100% of Your Compensation

You don't need a claims management company

The FCA designed the motor finance redress scheme for direct consumer access. You can complain to your lender, receive your compensation, and keep every penny — without paying anyone a percentage.

This is not a suggestion. It is how the scheme works. Lenders are required to contact consumers who are likely owed money. The Financial Ombudsman reviews disputes for free. The entire process, from complaint to compensation, costs you nothing.

So why are CMCs and law firms spending millions trying to sign you up?

Because there is £7.5 billion on the table, and 25–30% of your share is worth fighting for — to them.

What CMCs charge

Claims management companies typically take between 25% and 30% of your compensation. Some charge up to 36% including VAT.

The average payout under the FCA scheme is £829. Here is what that looks like:

At 25%, you lose approximately £207. At 30%, you lose approximately £249. At 36% (including VAT), you lose approximately £298.

For accessing a scheme that is free.

If you had three car finance agreements — which is common — and each pays the average, your total compensation would be approximately £2,487. A CMC at 30% would take £746 of that. For sending template letters and waiting.

What the FCA thinks about CMCs

The regulator has not been subtle. Since the scheme was announced:

The FCA has removed or amended more than 800 misleading advertisements from CMCs and law firms. More than 28,000 consumers have been helped to exit CMC contracts free of charge. A joint enforcement taskforce has been established with the Solicitors Regulation Authority, the Advertising Standards Authority, and the Information Commissioner's Office — specifically targeting poor practices in motor finance claims marketing.

The FCA's own warning to consumers: “If you use [a CMC], you could lose over 30% of any money you get.”

This is unusually direct language from a regulator. They are telling you, plainly, that you are better off without one.

Why the scheme doesn't need a middleman

This is not PPI. The FCA has learned from that experience and built the motor finance scheme differently.

Lenders must come to you. If a lender's records show you are likely owed money, they are required to contact you within 6 months of the scheme opening. You do not need anyone to “find” your claim.

You can complain directly. A letter or email to your lender is all that is required. There is no form, no fee, and no intermediary needed. Complaining before the implementation deadline (30 June 2026 for newer agreements, 31 August 2026 for older ones) puts you at the front of the queue.

The Financial Ombudsman is free. If your lender rejects your complaint or offers less than you are owed, you can escalate to the Financial Ombudsman Service at no cost. The FOS independently reviews the complaint and can order compensation the lender refused to pay.

You have until 31 August 2027. That is 17 months from now. There is no rush to sign up with a CMC today.

What if a CMC has already contacted you?

If a CMC or law firm has contacted you — by text, email, phone, or post — here is what to know:

You do not have to use them. A phone call or text does not create an obligation. Even if you expressed interest, check whether you actually signed anything.

Check the cooling-off period. If you signed a CMC contract within the last 14 days, you can cancel under the Consumer Contracts Regulations 2013. No fee is payable.

If you signed earlier, check the termination terms. The FCA has stated that where consumers signed up without fully understanding the terms, termination fees should not be enforced. More than 28,000 consumers have already exited CMC contracts free of charge with regulatory support.

Verify the firm. Check whether the CMC is registered on the FCA Register (register.fca.org.uk). If they are not, they are operating illegally.

Watch for scams. Not all contacts claiming to be CMCs are legitimate. Never share PINs, banking details, or pay an upfront fee. The scheme is free — anyone asking for money upfront is not legitimate.

How to do it yourself — step by step

1. Identify your lender. Check your original paperwork, bank statements, or credit report. Common PCP lenders include BMW Financial Services, Mercedes-Benz Financial Services, Volkswagen Financial Services, Black Horse, MotoNovo, and Close Brothers. If you cannot remember, a free credit report from Experian, Equifax, or TransUnion will show your finance history.

2. Gather what you can. Your original finance agreement is helpful but not essential. If you do not have it, you can send a Subject Access Request (SAR) to the lender — they must provide all information they hold about you within 30 days. At minimum, know the approximate dates and the vehicle.

3. Write your complaint. State that you believe the commission arrangement on your finance agreement was not properly disclosed, and that you are seeking compensation under the FCA's motor finance redress scheme (PS26/3). Reference the type of unfairness — discretionary commission arrangement, high commission, or contractual ties — if you know which applies. If you do not know, say that you were not informed about the commission arrangements and ask the lender to assess your agreement under the scheme.

4. Send it. Email is fine. Keep a copy and note the date. The lender must acknowledge receipt and has a set timeframe to respond under the scheme rules.

5. Track the response. The lender must notify you within 3 months of the scheme opening whether you are owed compensation and how much. If they do not respond, that itself is a basis for escalation.

6. Escalate if needed. If the lender rejects your complaint, offers less than you believe you are owed, or fails to respond, refer the matter to the Financial Ombudsman Service. This is free and independent.

Where EvenStance fits

EvenStance is not a claims management company. We are registered as a technology platform, not a claims firm. We never take a percentage of your compensation. For PCP and HP motor finance claims, the entire service is free.

Frank, our AI, handles the parts that most people find difficult: assessing which unfairness triggers apply to your specific agreement, drafting a complaint letter that cites the relevant legislation and scheme rules (not a generic template), tracking every deadline automatically, analysing lender rejection letters and drafting rebuttals, and guiding escalation to the Financial Ombudsman if needed.

The difference between EvenStance and a CMC is simple. A CMC takes 25–30% of your money for doing roughly the same thing. EvenStance charges nothing for motor finance claims. You keep 100%.

Keep every penny

The FCA built this scheme so you can use it directly. Whether you do it entirely on your own, use MSE's free template tool, or use EvenStance's free AI-guided process, you do not need to pay anyone a percentage of your compensation.

£829 is £829. Not £580 after a CMC takes their cut.