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Car finance campaign
Hi, I have used the template provided by MSE to contact a couple of car finance companies and I am having rather a lot of trouble! The latest one has come back and told me that the company they used to use was taken over by Raphaels Bank, yet I have read that Raphaels has closed down now. I am not sure where to go from…
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Renault/Mobilize - Recent DCA response and help...
Hello, So I have just had confirmation back from 2 vehicles I had through Renault. My first vehicle is confirmed to have meet the criteria and my 2nd vehicle hasn't. What I would possibly like some help with is the following statement on my first vehicle, 'We can also tell you that an additional commission payment was also…
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Can I reclaim for a previous policy if I have an existing policy with the same provider?
I am looking at using the car finance reclaim tool for a car finance agreement I had with VW Financial Services that was taken out in 2015 (paid off by 2019). However I have an existing car finance agreement with the same provider for a car I purchased in November 2023. Could this cause problems for me if I sent the…
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Vauxhall Finance - Unsure How to Proceed Next
Hi All, I took a finance agreement out with Vauxhall Finance in 2010. I don't have the agreement number but I did give them the vehicle registration. I have received the following response this morning and unsure how to proceed. Anyone else had similar response? "Thank you for your email dated 7th February 2024 asking for…
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Lookers Vauxhall (Speke, Liverpool) Finance company 2007/2008
Hi All, I don’t suppose anyone would know what finance company was used by Lookers Vauxhall. I purchased a car from them in around 2007/2008 but can’t find the finance supplier? I’ve looked on their website and it’s currently DSG finance but not sure if it was them then as well? Any advice appreciated.
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Ford Credit - Comission Complaint Email
Hello, I submitted a claim to Ford Credit using the MSWE template for 2 vehicles I had with Ford, I received confirmation of complaint emails at the time in February. I have today received the below, am I reading too much into this that I wont be eligible or did not have commission on my finance or is this just a stock…
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Response from Ford credit re DCA
Had a response from Ford credit as follows: What we need to tell you After making further reasonable and proportionate searches, we're not able to say whether the arrangements in place between us and the dealer included a DCA. This means we can't say if your complaint is a 'relevant motor finance DCA complaint. What we…
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FCA investigates car finance
Hi all, this may be a daft question but how do I check what commission the dealer made on our car finance plan, and so check if it was excessive and can be (potentially) reclaimed? Thanks.
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Discretionary commission, please add your company if you have had an admission.
Toyota have admitted it was used in my agreement.
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No reply from Ford credit
I have used and submitted the email via the template on 10th Feb but yet to have any response or acknowledgement. Are people using the email Custrel@ford.com?
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Discretionary Commission
Hello, I submitted a request to find out if I had discretionary commission on a Fiat 500 I purchased back in 2019. Attached is the response I got. I wondered anyone's thoughts on this as whilst it states I did not have the discretionary commission, but then seems to contradict this and put the blame (as such) onto me, for…
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Reply from Mobilize
Good afternoon, Thank you for contacting us. You've asked us whether your agreement was one where we paid a Discretionary Commission Arrangement (DCA) to the supplying dealer. We've given your enquiry the reference number below, which we'll use in all future correspondence. Please make a note of it: Reference…
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Car finance help
I had car finance from a hyundai dealership back in 2012. I think it was around 2 yrs maybe longer but I have no paperwork and have changed banks. I part exchanged it with the same dealer again in 2016 but paid cash for the new car. I have called the dealer and they said they only keep records for 5 yrs so can't help me.…
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0% Car Finance Deal - should I still complain?
I had various finance deals for new cars between 2014 and 2021 with Toyota Financial Services, each time the interest rate was supposedly 0%. Do I have cause to complain and check whether there was a discretionary commission attached? I assume they effectively must have had some sort of fixed commission or doctored the…
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Firms advised to make provisions on car finance
Motor finance: Firms warned to hold cash back for probe - BBC News BBC update on the FCA investigation. They are having difficulty getting information from lenders - which leads me to suspect the September timescale will slip.
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1,000,000 car finance complaints submitted since MSE’s tool launched on 6 February 2024
MoneySavingExpert.com now has 1,080,000 car finance complaint letters submitted since 6 February 2024 when its founder and executive chair Martin Lewis launched its free car finance reclaim tool. Read the full story: 1,000,000 car finance complaints submitted since MSE’s tool launched on 6 February 2024 If you haven't…
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Discretionary Commission Arrangement
I used The MSE template for my two VWFS agreements taken out in 2017 and 2021. VWFS contacted me back to confirm that a discretionary commission arrangement was NOT used on my agreement. But the interest rate on my 2017 agreement was 6.03 %And on my 2021 agreement 4.55 % Do I have a case to investigate further ?
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DCA - Mobilize Financial Services
Hi everyone, I sent a formal enquiry to Mobilize on 19th Feb, they came back to me on 11th March saying they’re unable to validate my enquiry. They asked for VRN, full address history and copy of passport. The VRN and full address history was completed on the original enquiry so I resent it back to Mobilize but withheld…
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car finance reclaim
My finance was with PSA Finance, they have now been taken over by Stellantis. Do I lodge my complaint with them?
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PCP contract taken over by other company mid-contract, who to make claim to?
Hi, I signed up to a car PCP in 2016 with National Fleet Services. At some point my contract was taken over by Leaseplan and I made a balloon payment to them to buy the car in 2019. Which of the two companies would I contact to find out if I was affected by the discretionary commission arrangement? I'm not sure who would…
