PCP Mis-selling scandal

[NorthWestPerm2Contr]

One of my freinds recently recovered a sizeable sum (£8,000 after fee is taken) because of being mis-sold PCP/HP for his car. Apparently all the big car dealerships have been doing this and I have 4 PCP deals that appear to be claimable.

The solicitor's have come back with a no win no fee offer (via a friend's recommendation) but their fee is effectively 50% when including VAT. Just wondering if anybody else has gone down this route and has any recommendations? Sorry if I'm a bit late to the party!

[Fred Bloggs]

One of my freinds recently recovered a sizeable sum (£8,000 after fee is taken) because of being mis-sold PCP/HP for his car. Apparently all the big car dealerships have been doing this and I have 4 PCP deals that appear to be claimable.

The solicitor's have come back with a no win no fee offer (via a friend's recommendation) but their fee is effectively 50% when including VAT. Just wondering if anybody else has gone down this route and has any recommendations? Sorry if I'm a bit late to the party!

If you don't mind, is there a short explanation of why there's cause for mis-selling? Thanks.

[Lance]

If you don't mind, is there a short explanation of why there's cause for mis-selling? Thanks.

I am part of a class action against Mercedes for mis-selling based on false emissions. **** knows if I'll get anything but it's no win no fee.
I wouldn't be pursuing this on my own as it's a load of bulltulip.
But that is the only mis-selling I'm aware of.

[Fred Bloggs]

I am part of a class action against Mercedes for mis-selling based on false emissions. **** knows if I'll get anything but it's no win no fee.
I wouldn't be pursuing this on my own as it's a load of bulltulip.
But that is the only mis-selling I'm aware of.

Yes I am aware of that, cheating and telling lies about emissions. Curious that the OP specifically mentions PCP which has become a huge industry in itself.

[WTFH]

Yes I am aware of that, cheating and telling lies about emissions. Curious that the OP specifically mentions PCP which has become a huge industry in itself.

Basically, it's a bunch of lawyers who have worked out the US principle of finding ways to sue anyone for anything.
If you purchased a car using PCP and didn't feel you had it explained to you properly, or be told options, then you can sue.
Costs the PCP businesses money in legal fees and "refunds", the lawyer for those claiming mis-selling just send through template responses, and then next year we all end up paying more for financial loans to cover paying for lawyers.
Part of the general race to the bottom.

[NorthWestPerm2Contr]

https://www.bottonline.co.uk/consume...finance-claims

[Fred Bloggs]

Basically, it's a bunch of lawyers who have worked out the US principle of finding ways to sue anyone for anything.
If you purchased a car using PCP and didn't feel you had it explained to you properly, or be told options, then you can sue.
Costs the PCP businesses money in legal fees and "refunds", the lawyer for those claiming mis-selling just send through template responses, and then next year we all end up paying more for financial loans to cover paying for lawyers.
Part of the general race to the bottom.

Gotcha, understood. The scum of the legal profession chasing ambulances they themselves called. One of the next ones undoubtedly will be defined benefit to defind contribution pension transfers. Once people get to maybe 75 and run out of money, the usual "it wasn't fully explained to me what the risks were....." get trotted out. Amazing how people park there common sense when they get offered a couple of hundred grand to sell their own future down the river.

[Lance]

Gotcha, understood. The scum of the legal profession chasing ambulances they themselves called. One of the next ones undoubtedly will be defined benefit to defind contribution pension transfers. Once people get to maybe 75 and run out of money, the usual "it wasn't fully explained to me what the risks were....." get trotted out. Amazing how people park there common sense when they get offered a couple of hundred grand to sell their own future down the river.

whilst what you say is true, it is a shame that it will take said ambulance chasers to make the industry more honest. It's supposed to be done by regulation. The entire purpose of privatisation and de-regulation requires a strong regulator to keep the market honest. When laywers get involved the regulator has failed.

Although I do wonder if chasing the mis-selling via the FOS would work better. It would certainly not incur any lawyer costs.

[northernladuk]

Gotcha, understood. The scum of the legal profession chasing ambulances they themselves called. One of the next ones undoubtedly will be defined benefit to defind contribution pension transfers. Once people get to maybe 75 and run out of money, the usual "it wasn't fully explained to me what the risks were....." get trotted out. Amazing how people park there common sense when they get offered a couple of hundred grand to sell their own future down the river.

It doesn't actually mean it's been missold either. The cost of fighting it is rarely worth it so they fold so it's tant amount being bullied for the money.

[cojak]

I had a mate who had the same deal for credit card PPI (or whatever it was).

He reckoned that 50% of something for doing nothing was better than 50% of nothing because he didn’t realised he was owed it.

He was happy with his 50%.