Multiple Car Finance Agreements — Can You Claim for Each One?
Scheme status (updated 5 August 2026): parts of the FCA motor finance redress scheme are temporarily suspended while the Upper Tribunal considers legal challenges. Lenders do not currently have to calculate or pay compensation under the scheme, the original decision and payment dates no longer apply, and no payment under the scheme is guaranteed. If the scheme proceeds, first payments are expected in 2027 at the earliest. Any dates mentioned below were set before the suspension.
Yes — each eligible car finance agreement is a separate claim and a separate potential payout. If you had three PCP or HP agreements between 2007 and 2024, you could have three separate compensation payments. The FCA scheme places no limit on the number of agreements you can claim for.
Each Agreement Is a Separate Claim
The FCA’s PS26/3 redress scheme assesses each PCP or HP agreement individually. There is no aggregation and no cap on the number of agreements. Every eligible agreement generates its own redress calculation based on the loan size, interest rate charged, commission paid to the dealer on that specific agreement, and the date it started.
The FCA-confirmed average payout is £829 per eligible agreement. Four agreements at the average produces over £3,300 before compensatory interest is added.
What Counts as a Separate Agreement?
Each time you signed a new finance agreement for a different vehicle — or renewed finance on the same vehicle — that is a separate agreement and a separate potential claim. The following all count as separate agreements:
- Consecutive agreements: You finished one PCP and took out a new one on a different vehicle
- Overlapping agreements: You part-exchanged mid-agreement and started a new one
- Different lenders: Black Horse for one car, Santander for another — each is a separate complaint
- Same lender: Two successive agreements both through Black Horse — each assessed separately
- HP and PCP mixed: One HP and one PCP — both eligible, both assessed independently
How Far Back Can You Claim?
The scheme covers agreements from 6 April 2007 to 1 November 2024. Some claimants could have 10 or more years of car finance agreements in scope spanning multiple vehicles. Older agreements attract more compensatory interest — an agreement from 2009 has accumulated 17+ years of interest by the time of payment.
See: How Far Back Can You Claim?
One Complaint Per Lender — Not Per Agreement
If you had three Black Horse agreements — in 2010, 2015 and 2020 — you submit one complaint to Black Horse. They will assess all three agreements. If you had agreements with Black Horse and Santander, you submit one complaint to each. Claims Bible manages all complaints across multiple lenders simultaneously.
Tracing Agreements You Cannot Remember
Most people cannot recall every car finance agreement from a 17-year period. Claims Bible can trace historic PCP and HP agreements using your name, date of birth and all previous addresses. You can also request your full agreement history from any lender via a Subject Access Request under UK GDPR — they must respond within one calendar month.
See: Claiming Without Paperwork
Key Deadlines
- 30 June 2026: Priority deadline for post-April 2014 agreements — complain before this date to be in the first payment group
- 31 August 2026: Priority deadline for pre-April 2014 agreements
If you have multiple agreements spanning both periods, complain for all of them now — each will be placed in the correct tranche automatically based on its date.
Real Example
A customer had four agreements: HP with Black Horse in 2009 (£8,000), HP with Black Horse in 2013 (£10,000), PCP with Santander in 2017 (£14,000), PCP with Santander in 2021 (£18,000). Two complaints submitted — one to each lender. Combined base redress at the £829 average: approximately £3,316 before compensatory interest, with the 2009 and 2013 agreements attracting the highest interest additions due to their age.
Frequently Asked Questions
Can I claim for a car I part-exchanged before the end of the agreement?
Yes. The claim relates to how the original finance was sold. A part-exchange that triggered early settlement does not affect your right to claim. See: Claiming After Early Settlement
I had a joint agreement with a previous partner. Can we both claim?
Each party to a joint agreement may have individual grounds to claim. See: Joint Agreement Claims
Can I claim for business vehicles I personally financed?
If you personally signed the finance in your own name and the loan was under £25,000, you may be eligible. See: Company Car and Fleet Claims
Related Guides
Hire Purchase Car Finance Claims
Back to Car Finance Claims Hub
You will be redirected to our partner’s website to complete your claim.
Think You May Have a Motor Finance Claim?
The FCA estimates average compensation of around £830 per eligible agreement, but eligibility and payment amounts vary. Some customers may receive nothing. Complaints about agreements started from 1 April 2014 should be submitted by 30 June 2026 to be considered under the earlier timetable. Different dates apply to older agreements. The scheme is currently subject to legal challenge, so dates and payment timings may change.
