PCP Car Finance Claims and DRO

OutOfTheBue

Hi

Wondering if I could have some advice on the recent PCP car fincance claims.

I had a car on finance from Santander which payments started on 9th May 2021. I paid all the installments every month right up until October 2024 when my income changed and I had to enter into DRO with the my car loan being on the debts listed in the DRO.

Am i still eligible to make a claim to them if PCP was incorrectly sold?. I had paid back my loan for nearly 3 and a half years before my DRO was granted so just wondering where this leaves me in regards to claiming? Any help on this would be greatly appreciated.

Nasqueron

You could complain yes, depending on the status of the debt e.g. if they have it, if they wrote it off, if they sold it on (with or without clawback rights) will depend on what happens. 

If they have the debt and wrote it off as part of the DRO for example, they can offset any refund against the full unpaid sum and you get the balance. 

Note there is no claim, you are not claiming money back, everyone has to wait until after the FCA consultation and court cases progress 

OutOfTheBue

Thank you for your reply Nasqueron it is much appreciated and very helpful. Sorry I didnt mean claiming money back as such I meant where I stood on my right to complain because of the DRO. Thank you once again for taking time to reply 🙂

Salvatore1927

I have had car finance for many years, have had many cars  on lease, changed car every 3 years. How do I found out  if I’m eligible to make claims. I only have paperwork for most recent car. 

Salvatore1927

Hello, is there anybody there? 

dunstonh

Hello, is there anybody there? 

You have to give longer than 6 minutes.  Its not live chat.

I have had car finance for many years, have had many cars  on lease, changed car every 3 years. How do I found out  if I’m eligible to make claims. I only have paperwork for most recent car. 

It isn't an issue with leased cars.   So, you don't do anything.