Moneybarn Claims & Refunds

If you've experienced a mis-sold car finance loan from Moneybarn, our expertise can assist you in seeking the compensation rightfully owed to you. Our most substantial Moneybarn refund to date reached £12,000. Discover the potential compensation you may be eligible for by exploring your options with us!

In February 2020, Moneybarn made headlines with a £33 million fine from the Financial Conduct Authority, which found the lender had not treated customers fairly when facing repayment challenges.

Over 6,000 customers received car finance refunds as the FCA revealed that Moneybarn failed to adequately communicate the consequences of payment defaults before agreements were made. While the exact refund per customer remains undisclosed, the equal share payout averages around £5,000 per individual.

With a representative APR of 31.9%, Moneybarn boasts one of the priciest PCP finance options. For instance, borrowing £10,000 over 60 months with monthly payments of £313.86 results in a total repayment of £18,517.74, including £8,517.74 in interest.

According to the latest figures, the Financial Ombudsman upheld 29% of complaints against Moneybarn No.1 Limited. Due to their high-interest rates, Moneybarn has accrued substantial interest payments, potentially from unaffordable loans. If you believe you've had a mis-sold or unaffordable loan from Moneybarn, kickstart your compensation claim today!