Financial Loss & Mis-selling

Signs of a mis-sold BMW car finance agreement may include:

• You were not informed of commission paid to the dealership or broker.
• The terms of the finance agreement, such as interest rates or hidden charges, were not clearly explained.
• The agreement was unsuitable for your financial situation or needs.
• You felt pressured into signing without proper time to review the contract.

Undisclosed commissions occur when a dealership or broker receives payment from the lender for arranging the finance deal but does not inform you about it. This creates a conflict of interest, as the dealer may prioritise their profit over finding you the best deal.

Yes, if you can prove that you were misled or not provided with the necessary information, you may be entitled to compensation. This could include reimbursement of excess interest paid, the return of fees, or other financial redress.

Typically, you have six years from the date of the finance agreement to make a claim. However, if you only recently became aware of the mis-selling, the time limit might be extended under the "date of knowledge" rule.

To support your claim, gather the following:

• A copy of your BMW finance agreement.
• Correspondence with the dealership or finance provider.
• Records of payments made and any hidden charges discovered.
• Any evidence that undisclosed commissions were involved or that the agreement was unsuitable.

Compensation varies depending on the specifics of your case. It may include:

• A refund of excess interest paid.
• A reduction in the amount still owed.
• Repayment of fees or charges. A legal expert can help calculate your potential entitlement.

Yes, you can still make a claim even if the finance agreement is settled or the car is sold. The focus is on the mis-selling of the agreement, not the car itself.

The duration of a claim depends on its complexity and the willingness of the finance provider to resolve the issue. On average, it could take a few months to over a year.

If you suspect mis-selling:

1. Request a copy of your finance agreement.
2. Gather all relevant documents and records.
3. Contact us to review your case.