Car Finance Agreements
Potentially unfair motor finance arrangements, including certain commission-related concerns.
✓ UK Financial Redress Resources
Financial Mis-Selling Compensation Calculators
Explore financial mis-selling compensation calculators for car finance, PCP agreements, unaffordable lending, payday loan refunds and financial complaint interest. Understand how possible redress may be assessed, which rules apply and why actual eligibility and payments depend on the circumstances of each complaint.
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Financial Complaint Types
Common Financial Mis-Selling and Lending Issues
Financial complaints can arise from credit agreements, commission disclosure, affordability assessments and the handling of complaints. Different products follow different redress rules.
PCP Finance
Personal Contract Purchase agreements that may fall within relevant motor finance complaint rules.
Unaffordable Lending
Complaints about credit provided without appropriate affordability consideration.
Payday Loans
Short-term credit complaints involving potentially unaffordable borrowing.
Complaint Interest
Interest that may be included in a redress determination, depending on the applicable rules.
Financial Refunds
Refunds of qualifying fees, interest or charges, subject to individual complaint outcomes.
Redress Calculation Principles
How Is Financial Mis-Selling Compensation Calculated?
Financial redress aims to address an eligible customer's loss or unfair treatment according to the relevant legal, regulatory or ombudsman rules. There is no single formula for all financial complaints.
Refunds and Financial Adjustments
Some upheld complaints result in refunds or adjustments to borrowing costs. The approach depends on the type of lending, agreement and complaint.
- Eligible interest refunds
- Qualifying fees or charges
- Outstanding balance adjustments
- Previous repayments or refunds
- Other relevant financial corrections
Interest and Other Redress
Some financial complaint remedies include additional interest or compensation for distress and inconvenience. These are not automatically awarded at the same rate in every case.
- Applicable interest methodology
- Relevant start and end dates
- Scheme-specific adjustments
- Potential distress or inconvenience
- Eligibility and redress limitations
Important:
A refund of interest, car finance
redress and complaint-related
interest should not be treated
as interchangeable calculations.
Each calculator must use
the rules appropriate to
its financial product and
applicable decision date.
FCA Motor Finance Rules
Car Finance and PCP Compensation in the UK
The Financial Conduct Authority introduced a motor finance consumer redress scheme in March 2026 relating to certain unfair arrangements in motor finance agreements.
What Is the Current Scheme Status?
As at 9 November 2026, elements of the FCA's motor finance redress scheme are partially suspended following legal challenges. Lenders must continue to comply with the rules that remain in force, but do not have to calculate or pay redress under the suspended provisions while the legal process continues.
Can Lenders Make Settlement Offers?
Some lenders may choose to make voluntary settlement offers. The FCA has published expectations to help customers understand such offers, which may involve final settlement of the complaint. Consumers should review official information before accepting an offer.
Are All PCP Agreements Eligible?
No. PCP is a type of motor finance agreement, but compensation is not automatic for every PCP customer. Eligibility depends on the particular arrangements, scheme conditions and applicable decisions.
Why Calculator Estimates Have Limits
A car finance calculator may explain agreement costs or show scenarios based on relevant redress rules. It cannot independently establish unfairness, eligibility or the exact amount a lender will pay.
Lending Affordability Complaints
Unaffordable Lending and Payday Loan Refunds
A consumer may complain that a lender provided credit without taking appropriate steps to assess affordability. The relevant assessment depends on the product, the information available to the lender and applicable rules at the time.
What Might Be Refunded?
Where an unaffordable lending complaint is upheld, redress can sometimes involve refunding interest and charges, with further adjustments depending on the circumstances.
What if the Loan Is Still Outstanding?
The Financial Ombudsman may use an approach that removes relevant interest and charges and then considers repayments against the principal. Not every case leads to a cash refund.
Payday Loan Complaints
Payday lending complaints can involve repeated borrowing, repayment affordability and other factors. The ombudsman's redress approach depends on what went wrong and the loss caused.
Interest on Refunds
Interest can sometimes form part of the remedy, but the rate and calculation method depend on the applicable decision. It should not be assumed that 8% simple interest applies automatically to every financial complaint.
Key Financial Factors
What Can Affect Financial Compensation?
The agreement, complaint circumstances and applicable redress rules can influence how a potential amount is calculated.
01
Agreement Type
PCP, hire purchase, personal lending and other credit products.
02
Agreement Dates
When the financial agreement began and ended.
03
Interest & Charges
Relevant borrowing costs and qualifying refundable amounts.
04
Payments Made
Amounts already paid and any remaining balance.
05
Complaint Outcome
Relevant findings about the lender's conduct or agreement.
06
Applicable Redress Rules
FCA scheme rules, ombudsman decisions and relevant adjustments.
How It Works
How to Use Our Financial Redress Calculators
Select a suitable tool, enter financial details and review how the calculation was produced.
Select a Calculator
Choose car finance, PCP, unaffordable lending, payday loans or complaint interest.
Enter Financial Details
Provide the relevant dates, amounts and payment information requested by the tool.
Review the Calculation
Check the result, assumptions, applicable rules, sources and eligibility limitations.
Consumer Complaint Information
How to Raise a Financial Mis-Selling Complaint
People concerned about a financial product can usually begin by contacting the business responsible for the agreement and explaining their concerns.
Complain to the Financial Firm
A complaint should identify the product, the issue and any relevant evidence. The applicable response deadlines can depend on the complaint type and any special FCA arrangements.
Financial Ombudsman Service
An eligible consumer dissatisfied with the firm's response may be able to refer the matter to the Financial Ombudsman Service, subject to relevant time limits and jurisdiction.
Do You Need a Claims Company?
Consumers can generally complain directly to their lender for free. The FCA also offers free information about motor finance complaints. Paying a representative is not a requirement.
Check Current Rules
Complaint procedures, deadlines and scheme requirements can change. For motor finance in particular, check the current FCA guidance before relying on an estimate.
Related Categories
Explore Related Compensation Calculators
Browse other consumer and financial calculation topics.
Frequently Asked Questions
Financial Mis-Selling Compensation FAQs
Common questions about car finance, lending refunds, complaint interest and redress.
How much financial mis-selling compensation could I receive?
There is no universal compensation amount. Potential redress depends on the product, complaint findings, relevant rules and any financial loss.
Is the UK car finance compensation scheme currently active?
The FCA introduced a motor finance redress scheme in March 2026, but parts are currently suspended because of legal challenges. Some lenders may make voluntary settlement offers. Check the latest FCA updates.
Is every PCP agreement eligible for compensation?
No. PCP agreements do not automatically qualify. Eligibility depends on the finance arrangement and relevant legal or regulatory requirements.
How is car finance redress calculated?
The methodology depends on the applicable FCA scheme and agreement circumstances. An online estimate cannot confirm eligibility or guarantee a lender's payment.
Can I receive a refund for unaffordable lending?
Where a complaint is upheld, redress may involve refunds of qualifying interest or charges and adjustments to a balance. The outcome depends on the particular case.
What happens if my payday loan is still outstanding?
In some upheld complaints, the lender may be required to adjust the remaining balance by removing relevant interest or charges. This does not always result in a cash refund.
Does every financial complaint receive 8% interest?
No. Additional interest depends on the remedy and applicable rules. A fixed 8% rate should not automatically be used in every complaint.
Can I complain about car finance for free?
Yes. Consumers can complain directly to their lender without paying a claims management company. The FCA provides consumer guidance and complaint resources.
What does the Financial Ombudsman Service do?
The Financial Ombudsman Service considers eligible unresolved complaints between consumers and financial businesses and can determine appropriate remedies.
Can a financial mis-selling calculator guarantee a refund?
No. Calculators may explain borrowing costs, illustrate redress or total documented figures. They cannot determine all complaint outcomes or guarantee entitlement.
Official Financial Redress Resources
Review FCA and Financial Ombudsman guidance for up-to-date information about consumer complaints, lending and motor finance. Regulatory position reviewed: 9 November 2026.