Peugeot is a French automobile manufacturer. It produces a wide range of vehicles, including cars, vans, and electric vehicles. It is one of the oldest car manufacturers in the world, and it is known for its commitment to innovation, design, and performance. Peugeot cars are known for their comfort, design, and advanced technology. The brand offers various vehicles, including sedans, SUVs, and sports cars.
People can own Peugeot with the help of different car financing options available in the UK market. Car finance is one of the popular ways of owning a car with flexible payment options. There are different types of car finance contracts, such as Personal Contract Purchase (PCP) and Hire Purchase (HP). PCP is the most used car financing option in the UK. However, there are some cases of PCP mis-selling and people making Peugeot PCP claim.
Different Types of Peugeot Car Finance:
As we already know, PCP is a well-known car financing option. It involves a down payment, which is followed by easy monthly instalments. Then, at the end customer will pay an optional balloon payment. This optional payment at the end of the term is a final lump sum which is only due if the customer wants to own the car.
There are other end-of-term options as well, such as retain, refund, or exchange. If you want to retain a car, you can pay the final lump sum amount. If you want to return the car, you can return it after completing the monthly instalments. Thirdly, if you wish to exchange it for a new car, you can do so by signing a new PCP contract. These three options are only available in a PCP contract. You should be aware of this, or you could be mis-sold on the PCP contract.
Other than that, your Hire Purchase agreement is another source of car finance. In an HP contract, there is an initial deposit, which is followed by fixed monthly payments. Once these amounts are paid off, the customer becomes the owner of the vehicle. There are no variable options at the end of this contract.
How is a Peugeot PCP Claim Mis-Sold?
If you purchased a car on PCP finance and recognised that the broker or the lender did not inform you about the terms and conditions of the PCP contract, you can claim back mis-sold car finance.
Recently, the Financial Conduct Authority (FCA) has also declared a series of mis-sold car finance deals. According to the research, people who purchased cars on PCP or HP finance before 2021 might be mis-sold on their car finance deals. The government-backed authority found out that the lenders charged excessively high interest rates to increase profits as a part of Discretionary Commission Arrangements (DCAs). This increased the cost of the PCP contract, and customers were not disclosed of the hidden fees or commissions charged on the deal. Millions of Britishers who purchased cars on finance are now applying for PCP and HP claims.
Furthermore, there are some other reasons for PCP mis-selling as well. PCP contracts are tricky and complex. People cannot fully understand them without the help of solicitors or financial advisors. If your lender or the car dealer did not explain the terms and conditions of the PCP contract, you can be mis-sold on the PCP deal. If your lender or the broker failed to inform you about the final balloon payment or the lump sum amount, it can be counted as mis-selling. If you were unaware of the mileage restrictions, car conditions, and other expenses, you can apply for a PCP claim. Furthermore, if the lender or your advisor did not provide a complete breakdown of total costs, then you should definitely seek a Peugeot PCP claim.
How to Seek PCP Claim?
You can apply for a PCP claim for all car brands. If you bought a mis-sold Audi from Audi Financial Services, you can apply for a PCP claim. Our PCP and HP claim experts at Kingsley Marketing are trained to tackle such claims cases. Our method is simple and easy. We do not charge any hidden fees. We study your case, find out the reason for PCP mis-selling, check your eligibility, and then forward your complaint to the relevant authorities. All you need to do is gather all relevant information, documents, e-mails, and receipts to make a PCP claim.
You can visit our website, fill in the required details and send them to us to proceed with your case. You won’t have to pay any fees until you win your money back. Our PCP and HP claim experts will consult you to proceed with your PCP or HP claim. So contact us now.