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Introduction to PCP Claims
Has your Personal Contract Purchase (PCP) agreement ever felt far easier than what occurred in reality? Join the crowd. Increasingly, more and more people are becoming victims of mis-sold PCP agreements– and if you have been scammed or overcharged, you have the right to make a legally enforceable claim. At Legal Assist, we engage in protecting the rights of customers who are owed money, focusing on how to make proper PCP claimswhile making sure that they do not suffer unnecessary loss in the transaction.
What is a PCP Agreement? A Personal Contract Purchase (PCP) refers to the agreements that offer financing to customers who wish to own and buy cars. Due to its nature, PCP entails flexibility when it comes to the ownership of the car. However, it is not all sound as it usually appears as there are some hidden complications which create pressure on the end customers. How PCP Agreements Work Initial Deposit: This is a payment made at the onset of starting the contract. Monthly Payments: Low repayments made during the agreed term. Balloon Payment: At the end of the contract, a final payment is made if the customer wishes to take ownership, otherwise, the car is returned to the dealer. Mileage Restrictions: Customers should operate within the agreed limits, otherwise heavy fines will apply. These are clear enough, or at least they should be. Unfortunately, many customers are unfairly bound into contracts through aggressive sales practices and many other factors of being informed. What Are PCP Claims? A PCP claim stems from the fact that a customer was sold a car finance deal which was not reasonable or justifiable. There are many ways in which wheeling and dealing could cause problems, these include undisclosed fees, undisclosed commissions or even an explanation of important terms in the signed contract not being offered to the customer. Signs You May Have Grounds for a PCP Claim Was the dealer’s commission introduced to you? Was the risk attached to balloon payments downplayed? Were the total costs, incorporation interest, emphasized? Was the projected value of the car in future at the time of agreement distorted? If any of these apply, it is likely to asserts legally assisted claim compensation with Legal Assist. Over What Reason Are The Calls For PCP Claims Increasing? The number of PCP claims is increasing as borrowers are becoming aware of their consumer rights. More dealerships as well as finance agencies have been found to be at fault, customers have been forced to pay way more than what they ideally should have. Common Mis-Selling Tactics Interest rates which turned out to be higher than intended were never revealed properly. Commission payments were not communicated to clients. Placing customers on the dotted line without giving them the chance to understand the conditions of the agreement –working customers lock into agreements without clear explanation. The Functions of Legal Assist in PCP Claims In cases where injustice has been done to our clients, Legal Assist stands for the rights of the wronged. Our trained and experienced legal staff will assist you in dealing with the processes as easy and stress free as possible. How Do We Process Other’s Claims Evaluation: During an initial evaluation free of charge, we look for signs of mis-selling in your PCP agreement. Evidence Collection: Appropriate documentation is undertaken to substantiate the evidence gathered. Claim Submission: Appropriate claim has to be filled with the right finance provider clearing house. Negotiation: We try to get an agreeable amount on your behalf. What Are the Possible Amounts Awarded? In the event your PCP claim is successful, which in most cases it is, huge sums of monetary losses could be recovered. The losses may be. Refunded overpaid amounts. Reimbursement of undisclosed charges. Go back to AATV company and there may be cancellation of the contract. Signs That Your PCP Agreement Has Been Mis-Sold There’s a requirement to ensure that there’s been a careful attention to detail when it comes to the PCP Agreement. The following should raise alarms. Other Costs were ‘Buried’. Were there additional costs that were not included? Mileage Limits. Did you suffer punitively when the broker did not notify you that you crossed the assigned parameters? Balloon Payment’s Violent Epiphany. Had an undue adjustment and that was the case with you in actual sense. Steps In Making the Claim PCP A PCP claim could seem exhausting, but legal assistance has made management of the claim very simple. Step 1: Review Your Agreement It is advisable to familiarize yourself with the terms and conditions of the PCP as you may find unreasonable terms. Step 2: Collect Evidence It is crucial that you retain all documents associated with payment made under your PCP contract, including instituted dealers or communication. Step 3: Consult Legal Assist Legal Assist has legal experts who will evaluate your case and determine the best pathway to be taken based on the available evidence. Why You Shouldn’t Delay Filing Your PCP Claim With every act, you have a better chance of winning the case. Waiting can result in: Evidence that was now valuable becoming lost. Being unable to file a claim because of passing essential periods. At Legal Assist we ensure that your claim is addressed as swiftly as possible and effectively. Success Stories from Legal Assist The case study: Hidden Commission Fees A client of legal assist was informed that a significant amount of charge a client has incurred as a commission fee was never disclosed. We took up the matter and were able to secure a total refund together with other compensation for the client. Case study: Misleading Mileage Terms Another customer was unduly imposed penalties for breach of contract mileage limits he was never aware about. The client was able to get compensated for lack of mileage limits and with our support the penalties were lifted. FAQs About PCP Claims 1. Can I claim it if I've already finished my PCP contract? This is done even though your contract is over, you can still file a case provided there is sufficient evidence for mis-selling was exhibited. And what about the case where I’ve returned the vehicle? There is still a chance to seek compensation for unrecoverable expenses or illegal clauses. How long does it take to process a PCP complaint? Generally speaking, all matters within the timeframe of 6 to 12 months are considered to be within a reasonable time frame, although in some cases individual timelines are different. Am I going to hurt my credit score because of the PCP claim? No, a PCP claim will not affect your credit. Your services come at a price, do they not? It is quite customary to say that at Legal Assist, we only get paid if we win the case, and even so, on the condition. We operate on a no-win no-fee basis. Conclusion There is no reason why a wrongly sold PCP agreement should leave you in payments. Legal Assist is there to help you claim for the fair treatment and compensation you have been wrongly deprived of. Whatever the hurdles, our skilled team will get right down to the business of focusing on the minutiae of the claims mechanism. Give us a call today so you may begin filing your PCP claim.