Kia - Hyundai Finance response to Discretionary Commission Arrangement

Percys_mum

Hi
Just thought I would let the forums know that I contacted Hyundai finance about 2 car finance agreements for Kia cars recently and they have just confirmed that there was no DCA in place.

dunstonh

That is handy to know and I suspect a list will be able to be built in due course of those that did and didnt do it.

Nasqueron

dunstonh said:

That is handy to know and I suspect a list will be able to be built in due course of those that did and didnt do it.

Which won't stop Martin and Co telling people to complain and no doubt 50 posts on here about Kia not giving them a refund for something they didn't do

Tel2981

In contrast to the previous posts, I today have received confirmation from Kia finance that I have 2 agreements that have been subject to DCA's. They have registered my complaint and will write to me to detail their investigations. Moral to this, don't read Nasqueron's comment and believe they are an authority on the subject. Kia finance themselves have been guilty to some degree in this practice, submit your own request and be certain of your own circumstances.

Mr_Blue52

Tel2981 said:

In contrast to the previous posts, I today have received confirmation from Kia finance that I have 2 agreements that have been subject to DCA's. They have registered my complaint and will write to me to detail their investigations. Moral to this, don't read Nasqueron's comment and believe they are an authority on the subject. Kia finance themselves have been guilty to some degree in this practice, submit your own request and be certain of your own circumstances.

Kia Finance have not been found guilty as the FCA are still investigating and a decision may not be made until late 2025 or beyond.

DCA can also be used positively (I.e. the interest rate could have been reduced to enable Kia to make a sale).

Anyway, nobody is going to know the outcome until end of 2025 at the earliest.

Nasqueron

Tel2981 said:

In contrast to the previous posts, I today have received confirmation from Kia finance that I have 2 agreements that have been subject to DCA's. They have registered my complaint and will write to me to detail their investigations. Moral to this, don't read Nasqueron's comment and believe they are an authority on the subject. Kia finance themselves have been guilty to some degree in this practice, submit your own request and be certain of your own circumstances.

If you read my post, it said nothing of the kind 

Nobody has been found guilty of anything

Having DCA on a deal does not mean you were negatively affected or if it was even used, rather than an option

Nothing in my post said do not ask if they used DCA, simply that people will ignore it and complain they didn't get a refund if indeed the FCA decides that is the outcome required, or if they simply close the whole thing down which is perfectly possible