Can I make a PCP car finance claim for more than one vehicle?
- Claim-Smart Contributor
- 23 hours ago
- 5 min read
Updated: 3 hours ago
You can absolutely make a PCP car finance claim for more than one vehicle if you were mis-sold car finance. The FCA has estimated that around 14 million car finance agreements were mis-sold between 2007 and 2024.
If you took out more than one Personal Contract Hire (PCP) or Hire Purchase (HP) finance plan between these years, you are entitled to make a separate claim for each agreement.
This is because each claim will be individually assessed so that the correct compensation will be given.
The FCA’s announcement on 30th March 2026 confirmed there will be two schemes to address different timescales. This is particularly relevant for customers who purchased more than one agreement as they could fall into different schemes.
At Claim Smart, we help customers claim for DCA mis-sold car finance agreements everyday. Our expert team guides you seamlessly through the process so you don’t have to worry about a thing.
How many DCA claims can I make for mis-sold PCP car finance?
You can make one claim per qualifying agreement and there is no limit on the total number of claims you can make.
The FCA banned discretionary commission arrangements (DCA) on 28th January 2021.
Put simply, if you had four DCA agreements before this date, you can claim for all of them. But you have to claim for each one individually.
This is because each agreement is assessed according to the rate of interest charged and the length of the contract to decide how much compensation is owed.
Tracking down all of your agreements can be a challenge. Lost paperwork and confusing processes can add up the amount of hours you spend trying to make a claim.
That’s where Claim Smart can help. Our expert team specialises in the intricacies of mis-sold car finance claims, taking the worry and strain out of your hands.
Do I need paperwork for every vehicle I'm claiming for?
The simple answer is no, but you need to know enough about your agreement to be able to identify who your lender was.
A lot of customers believe that not having the original finance agreement means you won’t be able to make a claim, when actually simply knowing your lender and a rough idea of vehicle details is enough to get started.
What you can do is initiate a soft credit check that would find all the details of your agreements for you - and this doesn’t affect your credit score in any way.
Additionally, lenders are required to keep records so all the details of your agreement will exist, it’s just a matter of tracking them down.
White this is relatively simple for one agreement, dealing with multiple agreements is where the process can become more complicated. Different lenders and response timelines for each individual claim can take a lot of time to organise and deal with.
See our guide around which lenders you can make a car finance claim against.
Claim Smart are able to handle all of this for you, from locating your agreements to verifying and speeding up your DCA claims process, so you’re not left to piece the papers together alone.
Can I claim for a car I’ve already paid off or no longer own?
Yes, you can in fact claim for a car that’s been paid off or that you don’t own anymore.
The FCA redress scheme applies to the time when the finance agreement was set up as this was the moment when the finance was mis-sold. So even if your finance plan has come to an end or you no longer own the car, you could still qualify for compensation.
As the time period during which the exploitation of car finance took place is so long - between 2007 and 2024 - a high proportion of agreements will no longer be active, and the redress scheme addresses this.
They have introduced two schemes, broken up into two time periods. Scheme one covers agreements between 6th April 2007 to 31st March 2014. The second scheme is for agreements taken out between 1st April 2014 to 1st November 2024.
This is due to the FCA having taken over regulation of customer credit on 1st April 2014. If there is any legal dispute over the agreements before this date, the more recent agreements can still have their claims processed and compensation awarded.
How much compensation could I receive if I claim mis-sold finance for multiple vehicles?
The FCA estimates that each customer could receive around £830 per agreement. This is a slight increase on their earlier estimation, although the exact figure will be entirely dependent on the specifics of your agreement.
The size of your loan, the difference in interest rate, and the length of the agreement will all contribute to the final amount of compensation awarded.
The date on which the agreement was taken out will also affect compensation. Older agreements, set up before the FCA introduced greater regulation in 2014, may generate higher redress than those from more recent years.
When will DCA claims be paid out?
As of 30th March 2026, the FCA redress scheme is officially active and, depending on which scheme your agreement falls under, payouts will be rolled out either from November 2026 or January 2027.
The FCA announced there will be an implementation period during which lenders have three months to work out whether money is owed, and to whom.
This has been split into two 'schemes'.
Scheme 1:
Covers all agreements between 6th April 2007 to 31st March 2014
Implementation period ends 31st August 2026
For people who have already complained, redress will be paid by January 2027.
Scheme 2:
Covers all agreements between 1st April 2014 to 1st November 2024
Implementation period ends 30th June 2026
For those who have already made a claim, payments will be rolled out by November 2026.
Under the scheme, lenders are required to reach out to customers that they believe are owed compensation within six months of the end of the implementation period.
If a customer is not contacted, they must make their claim before 31st August 2027, when the scheme will end.
Ultimately, regardless of which scheme your agreement falls under, the sooner you make your mis-sold car finance claim the sooner you will receive your compensation.
If you’re strapped for time or want some expert guidance through the process, reach out to Claim Smart today.
Our professional team provides all the specialist help you could need to seamlessly submit your claim and get the compensation you’re owed.
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