Progressive Money Car Finance Claim — PCP & HP Compensation 2026
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.
If you financed a vehicle through Progressive Money between 6 April 2007 and 1 November 2024, you may be entitled to compensation under the FCA confirmed motor finance redress scheme (PS26/3, 30 March 2026). Progressive Money is an FCA-regulated consumer finance lender that provided car finance through dealer networks. Average payout: £829.
Who Is Progressive Money?
Progressive Money is a UK consumer finance lender providing personal loans and car finance products. It operated as a third-party lender through dealer networks, providing regulated consumer credit agreements for vehicle purchases. As a third-party lender — not a manufacturer-captive — Progressive Money does not share a brand identity with the dealers it worked through, meaning all three PS26/3 grounds apply without the tied arrangement exclusion.
Is Progressive Money Covered by PS26/3?
Yes. Progressive Money is FCA-regulated and all regulated PCP and HP agreements it arranged through UK dealer networks between 6 April 2007 and 1 November 2024 are within scope of PS26/3. The complaint deadline is 31 August 2027.
Three Grounds for a Progressive Money Claim
1. Discretionary Commission Arrangements (DCAs)
Prior to 28 January 2021, dealers arranging finance through Progressive Money could vary the interest rate within a lender-defined range, earning more commission the higher the rate. Where this was not disclosed, you are entitled to compensation.
2. Unfairly High Fixed Commission
Post-January 2021 agreements may qualify where the fixed commission met the FCA threshold of 39% of the total cost of credit and 10% of the loan amount.
3. Contractual Ties
Where Progressive Money had exclusive or preferential arrangements with specific dealer networks that were not disclosed to the customer, this is compensable under PS26/3.
How Much Could You Receive?
The FCA confirmed average payout is £829. Use our car finance claims calculator to estimate your payout.
Scheme Timetable (Original Dates, Now Suspended)
Post-April 2014 agreements: Complain before 30 June 2026 → determination by 30 September 2026 → payment by November 2026
Pre-April 2014 agreements: Complain before 31 August 2026 → determination by 30 November 2026 → payment by January 2027
Final complaint deadline: 31 August 2027
How to Complain
Submit your complaint to Progressive Money using the contact details on your original agreement or via the FCA’s official lender list at fca.org.uk/consumers/car-finance-complaints/list-lenders. Include:
- Your full name and date of birth
- Your address at the time of the agreement
- The vehicle make, model and registration number if known
- The approximate start date of the finance agreement
- A statement that you are complaining about undisclosed commission arrangements under the FCA motor finance redress scheme (PS26/3)
No paperwork? See: Claiming Without Paperwork
Related Pages
Multiple Car Finance Agreements
Frequently Asked Questions
No paperwork from Progressive Money. Can I still claim?
Yes. A soft credit check will show your agreement. See: Claiming Without Paperwork
I financed after January 2021 through Progressive Money. Am I eligible?
Yes. PS26/3 covers agreements up to November 2024 under the unfairly high fixed commission ground.
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.
