Ford Credit - Comission Complaint Email

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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 email being sent out to everyone? Also should I raise this the ombudsmen as mentioned? 


We need more time to resolve your motor finance commission complaint

Dear Customer,
Thank you for getting in touch with us on 14/02/2024 to complain about the commission we may have paid to the motor dealer who introduced you to us.
When we acknowledged your complaint, we told you that the Financial Conduct Authority (the FCA) had extended the time that we could consider your complaint. The FCA introduced new rules on 11 January 2024 applying to a 'relevant motor finance DCA complaint'. This is where:
•         The customer entered into a regulated credit agreement before 28 January 2021;
•         The agreement financed the acquisition of a motor vehicle;
•         There were arrangements in place between us and the dealer which included a discretionary commission arrangement (often called a DCA); and
•         We received the complaint between 17 November 2023 and 25 September 2024.
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 will do next
At this stage we don’t need you to do anything else. We hope to send you a final response shortly, but we will keep you fully informed while the complaint remains open.
What you need to know
As it is eight weeks since your initial correspondence to us, we are writing to advise you of your right to refer your complaint to the Financial Ombudsman Service.  You have the right to refer your complaint to the Financial Ombudsman Service, free of charge – but you must do so within six months of our final response or this letter. If you do not refer your complaint in time, the Ombudsman will not have our permission to consider your complaint and so will only be able to do in very limited circumstances. 
 
The address of the Financial Ombudsman Service is:
 
Financial Ombudsman Service
Exchange Tower
Harbour Exchange Square
London E14 9SR
Consumer Helpline: 0800 023 4567
Email: complaint.info@financial-ombudsman.org.uk 
 
Yours faithfully
Your Ford Credit Customer Relations Team


Any advice would be great,

Thanks 😀

Comments

  • Nasqueron
    Nasqueron Posts: 9,035 Forumite
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    edited 12 April at 1:04PM
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    It's a stock answer following the requirements of the complaints process

    Don't waste the FOS's time with that, they can't do anything until the FCA review is done
  • cupcake23
    cupcake23 Posts: 335 Forumite
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    Nasqueron said:
    It's a stock answer following the requirements of the complaints process

    Don't waste the FOS's time with that, they can't do anything until the FCA review is done
    Thank you, I did think that would be the case but wanted to check other peoples views! At least they have it and are hopefully looking into it! Would be great to know timeframes of an outcome but how long is a piece of string! 
  • dunstonh
    dunstonh Posts: 116,637 Forumite
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    Also should I raise this the ombudsmen as mentioned? 
    The FOS is not taking on complaints in this area either.  So, no point doing that.   Everything is on hold.  So, all you do is wait.

    Would be great to know timeframes of an outcome but how long is a piece of string! 
    The FCA believe they will report in September but there are reports that there are delays in getting data.  So, it may get pushed back.  if they rule there is no wrongdoing, then everyone gets a rejection.  Current information seems to suggest that the FCA are focusing not on new car sales but used cars.    And they are only focusing on the negative elements of DCA.  Not where it was used positively.     Depending on their decision, it could take another 6-24 months for firms to respond to complaints.

    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • born_again
    born_again Posts: 14,746 Forumite
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    cupcake23 said:
    Nasqueron said:
    It's a stock answer following the requirements of the complaints process

    Don't waste the FOS's time with that, they can't do anything until the FCA review is done
    Thank you, I did think that would be the case but wanted to check other peoples views! At least they have it and are hopefully looking into it! Would be great to know timeframes of an outcome but how long is a piece of string! 
    https://www.financial-ombudsman.org.uk/consumers/complaints-can-help/credit-borrowing-money/car-finance/complaints-about-commission

    It is also stated in MSE piece the timeframe.
    Sadly everyone is jumping the gun.
    Life in the slow lane
  • Nasqueron
    Nasqueron Posts: 9,035 Forumite
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    cupcake23 said:
    Nasqueron said:
    It's a stock answer following the requirements of the complaints process

    Don't waste the FOS's time with that, they can't do anything until the FCA review is done
    Thank you, I did think that would be the case but wanted to check other peoples views! At least they have it and are hopefully looking into it! Would be great to know timeframes of an outcome but how long is a piece of string! 
    https://www.financial-ombudsman.org.uk/consumers/complaints-can-help/credit-borrowing-money/car-finance/complaints-about-commission

    It is also stated in MSE piece the timeframe.
    Sadly everyone is jumping the gun.
    Thanks to MSE and Martin telling everyone to jump the gun - despite knowing that the firms can't start time barring complaints and the fact they know full well there is nothing to be gained by complaining now. All it does, ironically for a money saving website is increase costs for firms who will then pass it onto you and me in future deals.
  • cupcake23
    cupcake23 Posts: 335 Forumite
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    Thanks all for the info, let's see what comes from it! 
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