YES, YOU CAN CLAIM: Sold, returned, or paid off your car? Your old PCP agreement is still eligible for compensation.
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Eligibility Guide

Can I Claim PCP Compensation If I've Already Sold or Returned My Car?

Published 12 March 2026 · 7 min read · Covers all agreement types & endings
Short answer: Yes. You can absolutely claim PCP compensation even if you have already sold, returned, part-exchanged, or paid off your car. The claim is about the finance agreement, not the vehicle. Any agreement between 6 April 2007 and 28 January 2021 is eligible — regardless of how it ended.

Why the Car Itself Doesn't Matter

This is one of the most common misconceptions about PCP claims. Many people assume they need to still own the car or have an active finance agreement to be eligible. This is not the case.

The FCA's investigation and the Supreme Court ruling in Johnson v FirstRand focus on the finance agreement, specifically the discretionary commission arrangement (DCA) between the lender and the car dealer. The issue is that the dealer was allowed to inflate your interest rate to earn a larger commission — and you were never told.

This overcharging happened at the point the agreement was signed. Whether you kept the car for five years, sold it after two, or returned it to the dealer — the excess interest you paid during the life of the agreement is what you are claiming back.

Every Way an Agreement Can End — and You Can Still Claim

How Your Agreement Ended Eligible? Notes
Full term (balloon payment paid) ✓ Yes You paid all instalments plus the balloon — full claim
Returned at end of PCP ✓ Yes Handed car back at end of agreement — full claim
Part-exchanged for new car ✓ Yes Old agreement settled, new one started — both may qualify
Sold privately ✓ Yes Settlement figure paid, car sold — full claim on old agreement
Voluntary termination (VT) ✓ Yes Ended under Consumer Credit Act s.99 — claim for interest paid
Early settlement ✓ Yes Paid lump sum to end early — proportional claim
Voluntary surrender ✓ Yes Returned car before 50% paid — still eligible
Car written off (insurance) ✓ Yes Insurance paid off the finance — you were still overcharged
Repossession ✓ Yes Even if repossessed, the DCA overcharging still occurred
Multiple agreements: If you've had several cars on finance over the years, each agreement is a separate claim. A family that has financed three cars through Black Horse, Santander, and MotoNovo between 2010 and 2020 could have three separate claims — potentially totalling £2,000 or more.

The Eligible Period: 6 April 2007 to 28 January 2021

The FCA's investigation covers agreements entered into between 6 April 2007 (when the FCA's predecessor, the FSA, began regulating consumer credit) and 28 January 2021 (when the FCA banned DCAs).

If your agreement started during this period, it is eligible regardless of:

Older agreements can be worth more: The longer ago the agreement was signed, the more interest you overpaid — and the more statutory interest (8%) accumulates if you pursue a court claim. A 2009 agreement could generate significantly higher compensation than a 2019 one.

How to Find Your Old Agreement Details

Don't worry if you've lost your paperwork or can't remember the lender's name. There are several reliable ways to find your old agreement information:

1. Check Your Credit File

Your credit file holds a record of all finance agreements for up to 6 years after they end. Free services include:

Look for entries labelled "Hire Purchase", "Conditional Sale", or the name of the lender. The agreement date, term, and amount should all be recorded.

2. Submit a Subject Access Request (SAR)

Under UK GDPR, you have the right to request all data a lender holds about you. This is free and must be fulfilled within 30 days. A SAR will reveal:

MotorRedress submits SARs on your behalf as a standard part of our claims process.

3. Check Old Bank Statements

Look for recurring direct debit payments to names like "Black Horse", "Santander Consumer", "MotoNovo", "Close Brothers", or similar lender names. Your bank may hold statements going back several years, especially if you use online banking.

4. Contact the Dealership

If you remember where you bought the car, the dealership may have records of which lender they used. While they are not obligated to share this, many will help if asked politely.

5. Let MotorRedress Trace It

With your name, date of birth, and approximate date of purchase, our team can usually identify the lender and locate the agreement. We have established relationships with all major motor finance providers and can submit data requests efficiently.

Special Situations Explained

Voluntary Termination (VT)

If you exercised your right to voluntary termination under Section 99 of the Consumer Credit Act 1974, you returned the car after paying at least 50% of the total amount payable. You are still entitled to claim compensation because:

Settlement Agreements

If you previously signed a settlement agreement with your lender (for example, to resolve a separate complaint), this may or may not affect your PCP claim. It depends on the wording of the settlement:

Unsure about a previous settlement? Submit your claim anyway. MotorRedress will review any previous correspondence and advise whether it affects your eligibility. In most cases, it does not.

Car Written Off by Insurance

If your car was written off in an accident and the insurance payout settled the finance, you can still claim. The insurance payment went to the lender to clear the debt — but the DCA overcharging still occurred during the life of the agreement. Your claim is for the excess interest you paid in your monthly instalments.

Deceased Relative's Agreement

If a deceased relative had a PCP or HP agreement during the eligible period, the estate (or next of kin acting as personal representative) can make a claim. The compensation would form part of the estate.

Common Lenders for Old Agreements

The following lenders were among the most prolific users of discretionary commission arrangements. If any name looks familiar, you likely have a valid claim:

What to Do Next

If you had any car finance agreement between 2007 and 2021 — regardless of whether you still have the car — you should:

  1. Check your eligibility using our free 60-second checker
  2. Don't worry about paperwork — we can trace your agreement
  3. Act before the 29 July 2026 deadline — after this date, the FCA scheme closes to new complaints
Don't let a sold car stop you: Millions of eligible UK drivers mistakenly think they cannot claim because they no longer own the vehicle. The car is irrelevant — it's the finance agreement that matters. Check your eligibility now and secure your right to compensation.

Sold or Returned Car: Claim FAQs

Your questions about claiming on completed car finance agreements

Yes. Whether you sold your car last month or ten years ago, your PCP or HP agreement is still eligible for compensation. The claim relates to the finance agreement and the hidden commission, not the car itself. Any agreement from 6 April 2007 to 28 January 2021 qualifies.

Yes. Voluntary termination ends the finance agreement but does not affect your right to compensation for hidden commission. You were overcharged interest during the period the agreement was active, and you are entitled to a refund of the excess.

Check your credit file (ClearScore, Credit Karma, or Experian show historical agreements), look at old bank statements for direct debit references, or contact the dealership. MotorRedress can also trace your lender using your name, date of birth, and approximate purchase dates.

Absolutely. Most car finance is arranged by the dealer, so many consumers never knew the lender. Your credit file, bank statements, or our tracing service can identify the lender. You just need your name, date of birth, and a rough idea of when and where you bought the car.

Yes. The FCA scheme covers agreements from 6 April 2007 onwards. Older agreements are fully eligible, and often result in higher compensation because more interest was overpaid over a longer period. The normal 6-year limitation has been suspended by the FCA for motor finance claims.

No. If you settled your agreement early by paying a lump sum, you are still eligible. You paid excess interest during the period the agreement was active, and you are entitled to a proportional refund. The claim is slightly smaller but still valid.

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Sold Your Car? You Can Still Claim

Don't let a completed agreement stop you. Check your eligibility in 60 seconds — even without paperwork.

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