About this calculator: how estimates work

This free consumer calculator is provided by RedressIQ. It helps you explore a possible car finance redress amount using the published FCA framework and the information you supply.

Who provides it?

RedressIQ also provides a professional redress platform. This site is its free consumer tool. It is not the FCA or your lender, and an estimate is not an offer or a decision about entitlement.

Questions or corrections: [email protected]. Please identify the page and the source of any correction; do not email sensitive agreement documents just to report a website error.

What information does the calculator use?

• The agreement date, amount borrowed, term and settlement information you enter.
• 12% APR and commission of 8% of the amount borrowed unless you supply overrides.
• A £10,000 loan amount if you select the typical-amount option.
• A representative date for the selected period unless you enter the exact date.
• No early-settlement adjustment when you say you settled early but do not know the settlement date.

What does it assume about eligibility?

For dealer or broker arrangements, and when that arrangement is unknown, the calculation assumes a qualifying undisclosed arrangement. This can affect the remedy, especially at very high commission levels. It does not establish the commission type, disclosure or all scheme exclusions for your agreement. Confirm those facts with the lender.

How should I read the result?

Open Redress Breakdown to see the estimate's components. Replace assumed figures with actual agreement details where available. Compare an offer with the same dates and inputs; ask your lender to explain differences. The calculation guide explains the hybrid midpoint.

Why might my lender's figure be different?

The calculator uses a simplified repayment pattern. Your lender can use details we do not have, such as your actual payments, commission and settlement records.

• PCP final payments: there is no separate box for a large final payment, sometimes called a balloon payment.
• Early repayment: the estimate may differ from the lender's settlement calculation.
• Arrears or missed payments: the calculator does not know about any arrears or missed payments on your agreement.
• Missing figures: 12% APR and 8% commission are illustrative defaults, not facts about your agreement. Replace them with your own figures when available.

Use the result as a starting point for understanding a possible amount. It does not confirm that you qualify or what you will receive.

What does the court comparison mean?

The comparison uses full commission plus 8% simple annual interest as an illustration. It is not a forecast of a court award and does not deduct legal costs or assess whether a claim would succeed. A court may reach a different result.

Sources

• FCA PS26/3 policy statement and rules.
• FCA Technical Annex 1 for the supporting analysis.
• FCA consumer guidance for current eligibility and scheme status.

Privacy and contact

Use Cookies & privacy and Cookie settings at the bottom of the calculator to review the privacy notice and your analytics choice. You can use the calculator without submitting a complaint to us; complaints should go through your lender's official route.

Update record

19 October 2026: clarified the hybrid calculation explanation, published the assumptions above, refreshed lender complaint links and checked the scheme notice against the FCA's 13 October update. The calculation engine was not changed by this content update.

Last updated: 19 October 2026. This guide is general information, not legal or financial advice.