How to Make a PCP Claim Against Capita Finance Services

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Do you suspect that your PCP agreement with Capita Finance Services was mis-sold or unfairly handled? 

If so, you may be entitled to compensation. At PCP and HP Claims, we specialise in helping consumers who have been wronged by car finance companies. Our team of experts can guide you through the process of making a PCP claim against Capita Finance and ensure that you receive the compensation you deserve.

What is a PCP Agreement?

A Personal Contract Purchase (PCP) agreement is a type of car finance that allows you to spread the cost of a car over a set period. When the term ends and after all monthly payments are made, you’ll have the following choices:

  • Own the Car: By paying a final “balloon” payment.
  • Return the Car: Give the car back and potentially start a new PCP agreement.  
  • Return the Vehicle: No additional commitments are required.

PCP agreements can be a great financial option, but it’s essential to stay informed about the risks of FCA PCP mis-selling. Thoroughly review your agreement to protect your rights and avoid unforeseen financial difficulties.

What Are The Common Reasons For Making A PCP Claim?

There are several reasons why you might need to claim against your lender:

  • Mis-Selling: If you were not given clear and accurate information about the PCP agreement, including its terms and conditions, interest rates, and potential hidden costs.
  • Excessive Charges: If you believe that you have been charged excessive fees or penalties.
  • Misrepresentation: If you were given false or misleading information about the car or the PCP agreement.
  • Unaffordability: If the PCP agreement was beyond your means and your car finance provider didn’t properly assess your financial situation.  

If you believe that you have been wronged by your lender, it’s important to understand your rights and take action.

How Can You Determine If You Have Grounds For A Claim?

To determine if you have grounds for a PCP claim, ask yourself the following questions:

  • Were you fully informed about the terms and conditions of the PCP agreement?
  • Were you made aware of all potential hidden costs or fees?
  • Were you adequately assessed by Capita Finance to determine if the PCP agreement was affordable for your financial situation?
  • Were you pressured or misled into signing the PCP agreement?
  • Do you believe that you have been charged excessive fees or penalties?
  • Were you provided with misleading or incorrect information regarding the vehicle or the PCP agreement?
  • Was the PCP agreement unaffordable for your financial situation at the time you entered into it?

If you answered “no” to any of these questions, you may have grounds for a claim. It’s important to gather evidence and seek legal advice to determine the best course of action.

What Type Of Evidence Should You Gather To Support Your Claim?

Building a strong case requires collecting comprehensive evidence. This may include:

  • The PCP Agreement: Keep a copy of the original agreement, as well as any amendments or addendums.
  • Correspondence: Save any letters, emails, or other communications related to the PCP agreement.
  • Financial Records: Gather your bank statements and other financial documents that can help demonstrate your financial situation at the time of the agreement.
  • Expert Advice: Consider consulting with a financial advisor or PCP claims solicitors who specialise in consumer rights to get expert advice on your case.

Where Can You Find This Evidence?

  • Your Personal Files: Look for copies of the PCP agreement, correspondence, and financial records.
  • Capita Finance: Request copies of any relevant documents from Capita Finance Services.
  • Your Bank: Obtain copies of your bank statements.
  • Your Financial Advisor or Legal Professional: They may be able to help you gather evidence or provide expert testimony.

How Do You Make A Formal Claim Against Capita Finance Services?

To make a formal claim against Capita Finance, you should write a letter or email outlining your complaint and the reasons for your claim. Make sure to provide every pertinent detail and include all supporting documentation.

Here are some steps you can follow:

  1. Gather Your Evidence: Collect all relevant documents, such as copies of the PCP agreement, correspondence, and financial records.
  2. Write a Clear and Concise Letter: Explain the nature of your complaint and provide specific details about the alleged wrongdoing.
  3. Include Supporting Evidence: Attach copies of any relevant documents to your letter.
  4. Send Your Letter: Address the letter to Capita Finance’s complaints department and send it by certified mail or registered post.

If you are unable to resolve your case independently, you may need to seek assistance from external organisations such as ADR.

What is ADR?

Alternative Dispute Resolution (ADR) offers a method for resolving disputes outside the standard judicial system. Various forms of Alternative Dispute Resolution (ADR) include:

  • Mediation: A neutral third party (mediator) helps the parties reach a mutually agreeable solution.
  • Arbitration: A neutral third party (arbitrator) makes a binding decision that is enforceable in court.

How Can ADR Help You Resolve Your Dispute?

ADR provides numerous advantages compared to traditional litigation, such as:

  • Lower Costs: ADR is typically more affordable than pursuing a case in court.
  • Speed: ADR can be resolved more quickly than litigation.
  • Adaptability: ADR offers more customisable solutions compared to formal court processes.
  • Confidentiality: ADR proceedings are generally confidential.

When Should You Consider Taking Legal Action?

If you are unable to resolve your dispute through ADR, you may need to consider taking legal action. Consider this as a final option, as it can be both lengthy and stressful. 

Legal action might be necessary if

  • ADR has been unsuccessful.
  • The amount of money involved is significant.
  • The dispute is complex or involves important legal principles.

However, if you’re unsure about your eligibility or the complexities of legal action, our team at PCP and HP Claims can provide expert guidance. We specialise in helping consumers who have been wronged by car finance companies, including Capita Finance, Black Horse, Motonovo, and Close Brothers PCP claims.

We offer a broad selection of services, including:

  • Free Initial Consultation: Our experts will assess your case and determine if you have grounds for a claim.
  • Claim Preparation: We will gather the necessary evidence and prepare your claim for submission.
  • Negotiation: We will negotiate with the lender to reach a fair settlement.
  • Legal Representation: If necessary, we can represent you in court.

Why Choose PCP and HP Claims?

  • Specialised Expertise: Our team possesses extensive experience in managing PCP and HP claims.
  • No-Win, No-Fee: You pay nothing upfront, and we only charge a fee if we successfully recover compensation for you.
  • Personalised Service: We will work closely with you to ensure that your claim is handled efficiently and effectively.

If you believe that you have been mis-sold a PCP or HP agreement, don’t hesitate to contact us for a free consultation. We are focused on making sure you obtain the compensation you rightfully deserve.