When is the FCA deadline for PCP car finance claims?

The FCA deadline for submitting a PCP car finance claim is 31 August 2027, although acting sooner could help you receive compensation faster.

In March 2026, the Financial Conduct Authority (FCA) announced a new redress scheme for mis-sold car finance, covering agreements taken out between 6 April 2007 and 1 November 2024. Payouts should start from autumn 2026 for customers who complain early, and most customers can expect to hear from their lender by February 2027.

If you believe you are eligible for a PCP car finance claim, Claim-Smart can help.

With an expert team specialising in mis-sold car finance, we provide a helping hand to guide you through the process from start to finish.

For more information, get in touch today.

What are the key FCA deadlines for PCP car finance claims?

The final deadline to submit a complaint for a PCP car finance claim is 31 August 2027.

However, the FCA has introduced a phased redress scheme, meaning that when you submit your claim can impact how quickly it is resolved.

Having confirmed the final details on 30 March 2026, the FCA has split its scheme into two parts.

Each scheme has its own timeline:

Scheme 1

Covers loans from 6th April 2007 to 31st March 2014. The implementation period is five months long, ending 31st August 2026. If you complain before this date and your appeal is approved, you should be paid out by the end of January 2027.

Scheme 2

Covers loans from 1st April 2014 to 1st November 2024. The implementation period is three months long, ending 30th June 2026, when this scheme officially starts. If you put your claim in before this date you should hear back by 30th September 2026, with pay outs due before the end of November 2026.

With the two different schemes adding complexity to the redress scheme as a whole, many customers find comfort in using a claims management company, such as Claim-Smart, to guide them through the process and get the compensation they deserve. 

Explore what working with us looks like by reaching out today.

How do you know if you are eligible to make a PCP car finance claim?

You may be eligible to make a PCP car finance claim if you took out a personal finance agreement between April 6, 2007, and November 1, 2024, and a dealer used a Discretionary Commission Arrangement (DCA). The DCA gave dealers the ability to increase the interest rate you paid, without disclosing it to you.

Even if you don’t have all your paperwork, or your agreement ended years ago, you could still qualify under the FCA scheme. However, the vehicle in question must have been for personal use and not for business.

If you’re unsure, it’s usually worth checking sooner rather than later so you don’t miss the deadline.

What happens if you don’t submit a claim before the deadline?

If you don’t put a claim in before the deadline, you should still hear from your lender, but the process will be longer. And it may be a while before you see any compensation.

The FCA has confirmed that lenders must contact affected customers by the end of 2026 for post 1 April 2014 agreements and the end of February 2027 for agreements started between 6 April 2007 and 31 March 2014. But relying on this alone could delay your claim being accepted and compensation being paid out.

If you haven’t been contacted by this point and believe you were mis-sold PCP car finance, you should still submit a complaint directly to your lender.

And, if you need a helping hand to get your complaint in, Claim-Smart can guide you through the process from start to finish.

Get in touch today to find out more.

How do I make a mis-sold PCP car finance claim?

To claim for mis-sold PCP car finance, you can complain directly to the lender. If they don’t respond, you escalate to the Financial Ombudsman Service (FOS).

The FOS is an independent dispute resolution service for UK-based financial complaints. 

The key steps to take are:

1. Identify your lender

2. Locate your agreement (see our guide here on the documents you need)

3. Work out whether a DCA or high commission structure was in your agreement

If you are missing paperwork, don’t worry. You still have options, as a soft credit check should have all the details you need on file. 

Plus, under the official FCA redress scheme, lenders are required to get in contact with all customers they identify as having been mis-sold car finance. So even if you don't get in contact with the lender, they will eventually get in touch with you!

At Claim-Smart, we know this process can seem daunting. That’s why we offer specialist support to all customers, to help them make a swift, seamless claim and get the compensation they deserve. 

Operating on a no-win no-fee basis, we commit our resources to securing your redress.

For more information and to kick start your claim today, click here.

How Claim-Smart can help you meet the FCA deadline

Now that the FCA has announced all the final details of its official redress scheme, it’s time to put your claim in motion. The FCA has estimated that around £7.5 billion is expected to go back to customers.

With a fixed deadline of 31 August 2027, taking action sooner rather than later can help you avoid delays and potentially receive compensation faster.

If you believe you’re eligible for compensation as a result of mis-sold PCP car finance, this redress scheme is the answer you’ve been looking for.

While you don’t need to use a claims management company, such as Claim-Smart, to put your claim in, our services provide peace of mind that it’ll be done right and well within the deadline.

Operating on a no-win no-fee basis, we provide unwavering support from initial eligibility check through to possible lender disputes, guiding you through it every step of the way.

To learn more, start your claim with us today.

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