DCA Agreements with Lloyds Bank

If you arranged a PCP with Lloyds Bank between April 2007 and January 2021 and weren’t informed about commission or weren’t given a clear explanation of the charges, you may have a case. Even if you’re unsure, our free Claim Checker can help you find out.

A Discretionary Commission Arrangement (DCA) is a type of commission structure where the finance provider/lender pays the car dealer or broker a fee based on the interest rate paid in a Personal Contract Purchase (PCP) or Hire Purchase (HP) car finance agreement. 

Car dealers and brokers had the ability to control the interest rates on the car finance they sold, and many set higher rates to increase their own commissions.  This meant that many customers paid higher fees than necessary without realising since DCAs were often hidden.

In January 2021 the Financial Conduct Authority (FCA) banned DCAs due to unfair and misleading practices.

We make the process as simple and stress-free as possible. Here’s how it works:

Step 1 – Check your eligibility

Complete our free online Claim Checker form where we’ll gather key details about your possible claim against Admiral Finance. We can then check whether your agreement meets the criteria for a PCP mis-selling claim, such as the presence of a hidden or unfair commission. 

Step 2 – Submit your claim

Once we’ve confirmed you’re eligible, we’ll take it from there. Your case will be referred to our specialist legal panel who will prepare and submit your claim on your behalf, making sure all the relevant information and claim details are provided. 

Step 3 – Progressing your claim

Our specialist legal panel will deal with all aspects of your PCP mis-selling claim, including calculating how much compensation you may be owed to negotiating directly with Admiral Finance or, if needed, escalating the case to the Financial Ombudsman Service (FOS) or legal channels. 

Step 4 – Keeping you up to date

You’ll be kept up to date at every milestone of your PCP claim up until your case is resolved and you are paid the compensation you are owed.

All claims through Premier Legal Assist are made on a no-win, no-fee basis, meaning there's no upfront cost to you. If your claim is successful, your solicitor may take a success fee, which is usually a percentage of the overall compensation recovered. If your claim is
unsuccessful, you pay nothing.

The fees listed below are exclusive of VAT and will be subject to VAT at the prevailing rate.

These fees are in line with the FCA guidelines on compensation refunds of up to £49,999.

Premier Legal Assist acts on a no-win, no-fee basis, with no administration charges or hidden fees payable. Our Charging rates are set in bands depending upon the amount of redress or refund you receive.

Cancelling this agreement. You have a 14-day cooling off period which starts from the date you sign/e-sign the Letter of Authority in which you can cancel your contract without charge. Please email cancellations to info@premierlegalassist.com or alternatively you may write to us at Premier Legal Assist, Ivy House, 20 London Road, Crewe, Cheshire, CW3 9SF. If at any time during the 14-day cooling off period, we receive an offer of compensation our normal fees will be payable.

If you cancel after 14 days cooling off period but before an offer of redress is made, we may decide to make a fair and reasonable cancellation charge which will be determined by the amount of work completed to that point in time in relation to your claim. Once a cancellation is requested outside the 14 days, we will send out an itemised bill detailing the work completed on your behalf. 

If one of our panel of solicitors takes on your case, they will explain the possible timescales of your claim. Timelines vary depending on how Lloyds Bank responds and whether the complaint needs to go to the Financial Ombudsman Service (FOS). The FCA is currently reviewing how past complaints were handled, which may also affect timelines.

Compensation values vary from case to case; your solicitor will explain this to you in full if they take on your case. Compensation usually reflects the extra money you paid due to an undisclosed or unfair commission.

Following a recent Supreme Court ruling, claims are currently paused while the FCA assesses the potential introduction of a redress scheme. It has been indicated by the FCA that average compensation payments are likely to be below £950 per agreement.

Yes, you can. If you had more than one PCP or Hire Purchase agreement through Lloyds Bank, or other lenders, you may be able to make separate claims for each one.

You don't need to have all the original paperwork to make a claim. If you know the lender's name (e.g., Lloyds Bank), the date when the agreement was taken out, and the vehicle details, we can usually retrieve the rest. The more information you have, then usually the quicker your claim can be processed.

Yes. The claim focuses on Lloyds Bank, the lender, not the dealership. Even if the dealer is no longer trading, you can still make a PCP compensation claim if Lloyds Bank was responsible for the finance agreement.

Yes, absolutely. You can still claim even if you no longer have the car or the agreement has been paid off. As long as the finance was arranged with Lloyds Bank between April 2007 and January 2021, you could be eligible to claim.

Both PCP (Personal Contract Purchase) and HP (Hire Purchase) are types of car finance; the key difference is what happens at the end of the agreement, namely whether you pay for the whole car (HP) or just the depreciation value with a balloon payment at the end of the term (PCP), but both could involve unfair or hidden commissions. If you had an HP agreement with Lloyds Bank, you may still be eligible to claim.

We specialise in mis-sold finance claims and are working with consumers looking for redress from major lenders. We make the process clear and simple, all on a no-win, no-fee basis. If your claim is eligible, your claim will be referred to specialist car finance mis-selling lawyers who will handle everything. You can focus on what matters while they fight your corner to recover the compensation you’re owed. 

With our expert team handling everything, you can focus on what matters while they fight your corner to recover the compensation you’re owed.

Premier Legal Assist is a claims management company. You do not need to use a claims management company to make your complaint. You can do this directly. If your complaint is unsuccessful, you can refer it to the Financial Ombudsman Service for free.

Claims are currently paused while the FCA assesses the potential introduction of a redress scheme. Following a Supreme Court ruling, it has been indicated by the FCA that average compensation payments are likely to be below £950 per agreement.  

The Financial Conduct Authority (FCA) is the UK's independent regulator for financial services institutions, including banks, lenders, insurers, and investment firms. Its main role is to make sure that consumers are treated fairly, markets operate with integrity, and businesses are held to high standards of transparency and accountability.

The FCA took a significant step in 2021 by banning discretionary commission arrangements (DCAs), which allowed car dealers to increase the interest rate on finance deals in return for higher commissions.

In 2024, the FCA launched a formal review into how lenders, such as Lloyds Bank, handled past complaints about these commission models.

The Financial Ombudsman Service (FOS) is an independent and impartial body set up to settle disputes between consumers and financial firms when a complaint cannot be resolved directly. It provides a free service to the public and has legal powers to investigate and issue binding decisions.

If you submit a PCP mis-selling complaint to Lloyds Bank and they reject it, delay unreasonably, or offer an unsatisfactory outcome, the FOS can step in to review your case independently. They will consider whether the lender acted fairly and in line with FCA rules and industry standards.

The FOS plays a crucial role in ensuring consumers aren’t left without a voice. If your claim is strong but not accepted by Lloyds Bank, your lawyers will handle the entire escalation process on your behalf, giving you the best chance of securing the compensation you’re
entitled to.