No! You don’t need your car finance paperwork to, make a complaint.
If your paperwork is long gone, you’re not alone. We’re often contacted by individuals who are hesitant to start a claim as they can’t find their original car finance contracts, dealership receipts or settlement letters. It’s an incredibly common scenario, especially if your agreement was taken out many years ago. After all, cars are sold, email addresses change and paperwork can be mislaid in filing cabinets or during house moves.
The key thing is not to panic. A lack of paperwork doesn’t need to prevent you making a car finance compensation complaint. In fact, many consumers start the complaints process without having any documentation to hand. You simply need a few basic details along with proof of your identity.
Why you may not need your original paperwork
Under UK financial regulations, lenders and finance providers are generally required to keep records of financial agreements for a period of time. This means that, even if you no longer have your original contract, the finance provider may still have records of your agreement and can search for it using information such as your name, date of birth and previous addresses.
The more information you can provide, the easier it may be for the finance provider to identify the correct agreement. However, not having your original paperwork doesn’t need to stop you getting the process started.
What documents are useful (though not required)
You don’t need your original car finance contract. But it will speed things up if you’re able to provide a few crumbs of information such as:
- Vehicle registration number
- Lender name – Do you remember who you made monthly payments to? Santander Consumer Finance or Volkswagen Financial Services, for example.
- Dealership – If you can’t remember the lender, a good starting point is the dealership showroom where you signed your car finance agreement
- Old bank statements – Searching online banking apps or old paper statements for historical direct debits will tell you who monthly payments were made to
- Credit report – Checking a free credit score app can often reveal settled credit agreements
If you don’t have any of these, don’t worry. They’re useful but your name, address and a rough idea of the year you bought the car may be enough for the lender or representative to start tracing your agreement.
What happens if you can’t find your car finance agreement?
If you know your lender, you can approach them directly and give them your details to locate your car finance agreement. Alternatively, some consumers prefer to instruct solicitors (like Harrington Sinclair Law) who can help identify the relevant finance provider and contact them on your behalf. Complaining with the support of a solicitor can make the process easier, particularly if you’ve had more than one vehicle financed or you’re unsure which lender was involved.
The finance provider will then search its records and provide details of the agreement, where records are still available. This can include information about the vehicle, the finance agreement and crucially – depending on the circumstances – how the finance was arranged.
What if the lender says it can’t find your records?
There’s no need to assume that the matter is automatically closed.
Older finance agreements can be more difficult to trace, particularly where a significant amount of time has passed. However, there may be other ways of identifying the agreement or obtaining information about it.
For example, old bank statements, credit reports, emails, paperwork from a dealership or even details remembered by a partner or family member may provide useful clues.
Do you need paperwork to prove you’re entitled to compensation?
Not necessarily. Your eligibility for compensation will depend on the circumstances of your individual finance agreement.
In recent years, there has been significant attention on the way motor finance agreements were arranged and the commission – discretionary or fixed – paid to dealers or brokers. However, the rules are complex and the situation is evolving. And of course, not every car finance agreement is eligible for compensation under the proposed FCA car finance redress scheme.
Bear in mind too that the compensation scheme is currently partially suspended pending the outcome of legal challenges. During this period, lenders are not required to calculate or pay compensation under the scheme, though the FCA’s rules allow lenders to make certain offers to settle complaints where the relevant requirements are met.
Whatever your circumstances, it’s important not to assume that having – or not having – your original paperwork automatically determines whether you have a claim. The first step is finding out what happened with your agreement.
A missing contract shouldn’t stop you from asking questions
If you financed a car several years ago and no longer have the paperwork, you can still investigate whether you have a potential compensation claim.
Start by gathering whatever information you do have. Your vehicle registration, the name of the dealership, an approximate purchase date or an old bank statement could all be helpful. But even if you have very little information available, it may still be worth making enquiries.
At Harrington Sinclair Law, we can help you investigate your previous car finance arrangements and explain whether you may have grounds for a complaint.
Ready to check if you have a claim?
Simply use the link below to give us a few details and we’ll be in touch. There’s no obligation to go ahead – and no fees if your claim isn’t successful.
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