Discretionary Commission Arrangement

PWEI1970

Just to say thank-you to the team. I used the MSE letter template and and have received a reply from my finance company Motofinance that my vehicle did involve a discretionary commission arrangement. (WOW I never knew) Now have to wait until the 25th Sept for the FCA outcome. Once again thanks MSE Team.

DullGreyGuy

Have they actually said your personal agreement had a higher interest rate because of a DCA or simply that the product in general had DCA and not explicitly anything about your interest rate? All responses to date seem to be the later and so could still be a lot of disappointed people in October when they find out the salesman didnt up their interest rates. 

PWEI1970

They haven't said that my interest rate were higher, just that my agreement for the vehicle did involve a DCA. Think they are keeping their cards close to their chest on that until the FCA make their announcement. 

Nasqueron

PWEI1970 said:

They haven't said that my interest rate were higher, just that my agreement for the vehicle did involve a DCA. Think they are keeping their cards close to their chest on that until the FCA make their announcement. 

That would make sense as the FCA might say that there was no issue with DCA or that only a few people had it and people should have a small refund

Westies

This is my reply from  Mercedes today, Thanks for your email requesting confirmation of whether we paid the dealer a discretionary commission for your introduction to us.

After checking our records, we can confirm that we did not pay a discretionary commission to the dealer. As your agreement was not subject to a discretionary commission model, we’re not treating your enquiry as a data subject access request or complaint.

Please let us know if there’s anything else we can help with in relation to the above. should I query this or is it another fob off?

DullGreyGuy

Westies said:

should I query this or is it another fob off?

Query what????

I think you should read up about what DCA is about and then get ready to jump on the next bandwagon. 

Nasqueron

Westies said:

This is my reply from  Mercedes today, Thanks for your email requesting confirmation of whether we paid the dealer a discretionary commission for your introduction to us.

After checking our records, we can confirm that we did not pay a discretionary commission to the dealer. As your agreement was not subject to a discretionary commission model, we’re not treating your enquiry as a data subject access request or complaint.

Please let us know if there’s anything else we can help with in relation to the above. should I query this or is it another fob off?

The industry is highly regulated, just look at Clydesdale getting £20m fine for pretending they didn't have customer data on PPI complaints. Not a chance Mercedes would lie about this as their records would prove otherwise

DullGreyGuy

Nasqueron said:

Westies said:

This is my reply from  Mercedes today, Thanks for your email requesting confirmation of whether we paid the dealer a discretionary commission for your introduction to us.

After checking our records, we can confirm that we did not pay a discretionary commission to the dealer. As your agreement was not subject to a discretionary commission model, we’re not treating your enquiry as a data subject access request or complaint.

Please let us know if there’s anything else we can help with in relation to the above. should I query this or is it another fob off?

The industry is highly regulated, just look at Clydesdale getting £20m fine for pretending they didn't have customer data on PPI complaints. Not a chance Mercedes would lie about this as their records would prove otherwise

Technically the Clydesdale fine proves there is a chance given someone else did something similar... the consequences reduces the chances but not to 0%

CamberleyChris

I have the same question as WESTIES.  I had an agreement with VWFS Ltd and have received the following reply “Thank you for contacting us regarding the commission model used on your agreement. We have investigated and can confirm that a discretionary commission arrangement was not used on your agreement.”  My question is what are my next steps.  I’m not sure whether I should just accept what VWFS Ltd have said.  I note that VWFS Ltd were one of the biggest lenders complained to via MoneySavingExpert’s car finance tool.  Any advice that you can provide would be much appreciated.  Thanks

BoGoF

Next steps would be accept what they are saying as fact - your agreement didn't have it and you are not getting anything from this particular bandwagon. Unless of course you have proof to the contrary?

Nasqueron

CamberleyChris said:

I have the same question as WESTIES.  I had an agreement with VWFS Ltd and have received the following reply “Thank you for contacting us regarding the commission model used on your agreement. We have investigated and can confirm that a discretionary commission arrangement was not used on your agreement.”  My question is what are my next steps.  I’m not sure whether I should just accept what VWFS Ltd have said.  I note that VWFS Ltd were one of the biggest lenders complained to via MoneySavingExpert’s car finance tool.  Any advice that you can provide would be much appreciated.  Thanks

As VW is one of the most popular brands here, it's logical that they would get a large amount of complaints from any MSE inspired bandwagon. All you, and others, have achieved is confirmation that they didn't use DCA, so you were not mis-sold, and caused VW a load of costs which they will pass onto future customers.