Volkswagen Finance

Hoenir

CountDrakma said:

Surely VW have to be more explicit than just saying there was no discretionary commission applied? 

On the basis there's nothing to say in response. How can an answer be anymore explicit than no?  

If you don't believe them that's your perogative. However until there's evidence to the contrary.  Such as when the FCA announce their findings. The matter is closed. 

dunstonh

CN35 said:

I have had a similar response. Surely if they have investigated and found no DCA was applied then would it be unreasonable of me to ask for specific evidence of their findings.

That is bizarre.    You want them to prove something that didn't exist.    

mark_beckwith

Interestingly, for the 3 VWFS letters I sent, two have come back with the templated "We have investigated and can confirm that a discretionary commission arrangement was not used on your agreement". These were both new cars. The other one was used, and with used PCP deals often/always having higher APRs than new, I'm wondering whether used deals were perhaps subject to DCAs. That said, no doubt within minutes of posting this, I'll get an email confirming no DCA on the third one!!

Nasqueron

mark_beckwith said:

Interestingly, for the 3 VWFS letters I sent, two have come back with the templated "We have investigated and can confirm that a discretionary commission arrangement was not used on your agreement". These were both new cars. The other one was used, and with used PCP deals often/always having higher APRs than new, I'm wondering whether used deals were perhaps subject to DCAs. That said, no doubt within minutes of posting this, I'll get an email confirming no DCA on the third one!!

It was far more likely that DCA was used on used car sales - a dealer gets commission for selling a new car, they are incentivised to have a LOWER APR not higher, as it makes the deal more affordable for the customer to drive off that day. If they inflated rates, people would be more likely to shop around or try a different car dealer

Nasqueron

CountDrakma said:

BoGoF said:

Why 'surely'. If they didn't operate a DCA agreement then thats all there is to say? Do you honestly think they would say that if there was with the financial penalties they would incur if found to be lying.

So you’re not aware of VW’s misrepresentations on emissions then? Ok.

VW used a cheat device to fool the emissions testing for the US market where diesels are sold on NOx emissions - it did not affect anyone in the UK as we buy cars based on CO2 emissions (and thus VED banding), NOx is hidden away on any sales page as it's not part of the UK sales process. Literally nobody in the UK was mis-sold a diesel VW group in the UK on the basis of a cheat device that wasn't used for UK sales - yes the usual CMC leaches jumped on the bandwagon but it was still not actually mis-sold.

Clydesdale Bank was fined £20m by the FCA for hiding the fact they had data on people's PPI sales and pretending they didn't, VW would expect to get a similarly large fine for lying about DCA sales. If anything, the diesel sales issue would be more likely to make them be honest, rather than lie about DCA, to avoid further fines.

A car was bought from VW. There was no DCA as they have confirmed. Do not pass Go, do not collect £200

dunstonh

mark_beckwith said:

Interestingly, for the 3 VWFS letters I sent, two have come back with the templated "We have investigated and can confirm that a discretionary commission arrangement was not used on your agreement". These were both new cars. The other one was used, and with used PCP deals often/always having higher APRs than new, I'm wondering whether used deals were perhaps subject to DCAs. That said, no doubt within minutes of posting this, I'll get an email confirming no DCA on the third one!!

It could apply to used vehicles.

So you’re not aware of VW’s misrepresentations on emissions then? Ok.

So, you're not aware of the worlds most powerful regulator, the FCA then?  Ok.

  

TClark0

I have just received this from VW Finance

“Based on our initial review we believe a Discretionary Commission Arrangement may apply to your agreement” 

Let me know if anyone else has received such an email. It should be black and white saying yes I have been charged or no I haven’t. When will I find out if I have? Not sure if I have to wait another 8 weeks or 37.

Thanks

BoGoF

At the present moment in time it doesn't really matter. You need to wait on the ruling.

dunstonh

Let me know if anyone else has received such an email. It should be black and white saying yes I have been charged or no I haven’t. When will I find out if I have? Not sure if I have to wait another 8 weeks or 37.

Two things.
DCA could be used positively or negatively.   If its positively (such as lowering the rate) then there is no issue with that.  If negatively (as in increasing the rate) then that is the area that the FCA is currently reviewing and you will know more after September (probably longer as the the volume will likely take 6-18 months later than the FCA deadline to sort out.

Deep_Arch

Just received the standard email (used vehicle purchase)  "We have investigated and can confirm that a discretionary commission arrangement was not used on your agreement" but they have sent the email to me twice with 2 different Agreement numbers. I only ever had one agreement with VW Finance. I have asked them to confirm what vehicles they have on record for each of thes agreements that they say belong to me.