Equifax Launches Free MyEquifax App With Car Finance Checker Tool

Equifax has launched a free myEquifax mobile app that includes a car finance checker tool designed to help UK consumers identify historic motor finance agreements that may be relevant for the FCA’s upcoming motor finance redress scheme.

What the app and tool do

• The myEquifax app is free to download from the Apple App Store and Google Play and provides access to Equifax’s Basic credit score at no cost.

• Within the app, the car finance checker shows a list of past and current motor finance agreements, with data going back to 2007 and covering agreements taken out between 6 April 2007 and 1 November 2024.

• It is specifically positioned to support consumers who may be eligible for compensation under the FCA’s motor finance redress scheme but who lack complete paperwork on old car finance contracts.

Key features

• Users can see agreement details such as reference numbers, dates, and amounts for eligible motor finance accounts.

• A “Share Agreement” function lets users quickly extract and paste those details into another format, for example an email to a lender when raising a complaint.

• The app aggregates both credit information (Equifax Basic credit score) and motor finance agreement history in one place once a user signs up for or logs into an Equifax Basic or paid subscription.

Limits and caveats

• The presence of a finance agreement in the app does not confirm that the consumer is entitled to compensation; it only surfaces historic agreements that might fall in scope for the FCA scheme.

• Consumers still need to contact lenders directly if they wish to raise a complaint or pursue redress, and the FCA has indicated that using a claims management company is not required.

• Some agreements may not appear, for example if they are outside the scheme’s date window; post‑1 November 2024 loans may show on the credit report but not in the motor finance section.