PCO finance company is coming for my car: what to do

In the next hour

• Do not hand the car back without checking the paperwork. Some of your protections kick in automatically, but only if you know them.
• Dig out the agreement. Find out whether it says hire purchase, conditional sale, PCP, lease or "membership". That wording decides which protections apply.
• Add up what you have actually paid. If you have paid a third or more and it is a regulated hire purchase or conditional sale under the Consumer Credit Act 1974, they cannot repossess without a court order.
• Do not give verbal consent to the firm removing the car. If they take it without court order after you have paid a third, that can be unlawful repossession.

In the next week

• Write to the PCO firm and ask for: a copy of the agreement, a statement of account showing total amount payable, commission structure, and current arrears.
• If the deal started between 6 April 2007 and 1 November 2024 and the credit is regulated, check your eligibility for the FCA motor finance redress scheme (PS26/3, live 2026). It is worth about £7.5bn across the UK and covers discretionary commission mis-selling.
• File a formal complaint with the firm. Give them 8 weeks to respond. If they do not or the answer is rubbish, escalate to the Financial Ombudsman Service.
• If you have paid a third or more and the firm is threatening to take the car without court, get urgent legal advice. Unlawful repossession can entitle you to your money back plus compensation.

Tools, guides and templates to use

• eligibility for the 2026 scheme.
• checks if your deal is regulated.
• Consumer Credit Act one-third rule letter.
• claim letter for the redress scheme.
• the rule in plain English.

When to escalate

National Debtline at nationaldebtline.org, 0808 808 4000. StepChange at stepchange.org. Financial Ombudsman Service at financial-ombudsman.org.uk, 0800 023 4567. For unlawful repossession or complex contract disputes, Citizens Advice or a consumer credit solicitor. FCA Consumer Helpline: 0800 111 6768.

Related crisis pages

• if finance arrears sit alongside tax.
• if deactivation killed the income that paid the car.
• if you cannot work to pay the finance.

Last reviewed

19 April 2026

Primary source used:

• Research/Gap/G4.4-fca-pco-motor-finance.md