Car Finance Refunds and Complaints. Car Loan Refunds

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Illustration of Fees: 

From 1st March 2022 fees charged by Redbridge Finance will be capped as per the table below. Further examples are shown below the table.

The figures quoted are only calculated on actual money sent to you. If you get a balance reduction, we do not charge any fees on the balance reduction element, just on money sent to you by the lender.

Band

Redress awarded for a claim (£)

The maximum percentage rate of charge

The maximum total charge (£)

1

£1-£1,499

30% plus vat

£420

2

£1,500 - £9,999

28% plus vat

£2,500

3

£10,000-£24,999

25% plus vat

£5,000

4

25,000-£49,999

20% plus vat

£7,500

5

£50,000 or above

15% plus vat

£10,000

These are some examples:

Band 1

Compensation amount £1,000. Our Fee £300 + VAT (£360 inc VAT). You get £640

Compensation amount £1,499. Our Fee £350 + VAT (£420 inc VAT). You get £1,079

Band 2

Compensation amount £5,000. Our Fee £1,400 + VAT (£1,680 inc VAT). You get £3,320 

Compensation amount £9,999. Our Fee £2,083.33 + VAT (£2,500 inc VAT). You get £7,499 

Band 3

Compensation amount £15,000. Our Fee £3,750 + VAT (£4,500 inc VAT). You get £10,500

Compensation amount £24,999. Our Fee £4,166.67 + VAT (£5,000 inc VAT). You get £19,999

Band 4

Compensation amount £30,000. Our Fee £6,000 + VAT (£7,200 inc VAT). You get £22,800

Compensation amount £49,999. Our Fee £6,250 + VAT (£7,500 inc VAT). You get £42,499

Band 5

Compensation amount £50,000. Our Fee £7,500 + VAT (£9,000 inc VAT). You get £41,000

 

Redbridge Finance is Registered in England & Wales with Company Number 10625599. Registered Office: Highfield, Crossing Lane, Claydon, Banbury, OX17 1EX. Redbridge Finance is a Claims Management Company that is Authorised and Regulated by the Financial Conduct Authority. Firm Reference Number: 836097. VAT Number 270 5830 08. ICO Registration Number ZA533663

 

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