Stellantis Financial Services UK (PSA Finance) - historical motor finance commission claim

cannon303

Hi I wrote to Stellantis Financial Services UK using the template provided by Money Saving Expert regarding the unfair practice of hidden commission on motor finance. I purchased a car in 2016 and thought there may be a claim to make. On 14th March 2024 I used the template to request information they hold on my behalf regarding this purchase. 

Their response was:

Thank you for your email dated 14/03/2024 asking for confirmation of whether we paid the dealer a discretionary commission for your introduction to us.  

After checking our records, we can tell you that we did pay a discretionary commission to the dealer.  We'll treat your email as your complaint.  We normally have eight weeks to send you a final response letter, but the pause introduced by the Financial Conduct Authority means the period starting on 11 January 2024 and ending on (and including) 25 September 2024 is not counted when calculating this eight week period.  

We'll be in touch with you after 25 September 2024.

Kind regards, 

Customer Services

Stellantis Financial Services UK

Today I sent a follow up email and got an automated response from no-reply@mail.psa-finance.co.uk

Hello

Thank you for your email, our team cannot respond as this case is now closed.

If you have another query, or need to speak to us again, please register a new enquiry.

To register your new enquiry please log into your Online account

With your online account, you can access and manage your:

• Personal details
• Agreement details
• Online Documents
• Outstanding Balance

Kind regards,

Customer Services

Stellantis Financial Services UK

I really do not know what to do next now so does anyone know how I should proceed? Has anyone had dealings with Stellantis Financial Services or PSA Finance?

DullGreyGuy

cannon303 said:

Hi I wrote to Stellantis Financial Services UK using the template provided by Money Saving Expert regarding the unfair practice of hidden commission on motor finance. I purchased a car in 2016 and thought there may be a claim to make. On 14th March 2024 I used the template to request information they hold on my behalf regarding this purchase. 

Their response was:

Thank you for your email dated 14/03/2024 asking for confirmation of whether we paid the dealer a discretionary commission for your introduction to us.  

After checking our records, we can tell you that we did pay a discretionary commission to the dealer.  We'll treat your email as your complaint.  We normally have eight weeks to send you a final response letter, but the pause introduced by the Financial Conduct Authority means the period starting on 11 January 2024 and ending on (and including) 25 September 2024 is not counted when calculating this eight week period.  

We'll be in touch with you after 25 September 2024.

Kind regards, 

Customer Services

Stellantis Financial Services UK

Today I sent a follow up email and got an automated response from no-reply@mail.psa-finance.co.uk

25 September got universally pushed back until December 2025 (next year) and most think it will go back at least another year given there are now court cases and without doubt they will be appealed no matter who wins. As such your chaser was more than a little premature.

Nasqueron

Wait until the end of the review and see what happens. 

You don't know if you were actually affected by DCA as it can be there but not used e.g. the finance company offered 5.9% and you got 5.9%, or used positively e.g. the finance company offered 6.9%-8.9% and you got 6.9% offer, or negatively e.g. the finance company offered 5.9% and you got 7.9%

dunstonh

After checking our records, we can tell you that we did pay a discretionary commission to the dealer. 

That gets you through the gate but is insufficient to say whether you will get redress or not and until the FCA report is published, no-one will know.

For example, if they increased the commission paid under DCA, then there is a good change the FCA will say they shouldn't.   However, if they accepted the default commission then its unlikely they will have to pay anything.  Same as if they lowered the commission received to improve the terms.

Scepticmum

My experience of dealing with Stellantis is as follows:
I wrote to them using Martin Lewis template on 11 November having purchased all my Peugeot cars on the PCP scheme with PSA since 2005. 

I gave them the date of my last purchase, June 2020, and my car registration number

They replied saying that  having checked their records, they could not find any trace of ever having entered into any agreement with me and that they considered the matter closed.
I replied sending them a copy of my last contract with them, dated 2020 where the discretionary Dealer Commission clause is clearly stated.
I confirmed  in the same email that I had bought all my Peugeots since 2005 using PCP finance supplied by PSA and asked them to check their records again.
This time they replied saying that they did not pay a discretionary commission to the dealer on the Policy numbers I hold with them.
I rang them up and waited for 50 minutes to speak to someone who confirmed that I have a few agreements with them dating back to 2005, of which none, the person said, included a discretionary agreement to the dealer.
I asked that these agreements be sent to me and was told reluctantly that they would be.
When I did not receive them by 19 November, I emailed to ask for them and was told in an email back that they considered the matter closed.

dunstonh

I replied sending them a copy of my last contract with them, dated 2020 where the discretionary Dealer Commission clause is clearly stated.

Having DCA available is not the same as actually having it though.   For example, DCA  could be used positively in promotions for a new vehicle or to hit targets.   It could be available to use but not used in your case.   Or it could be used negatively to inflate the commission (this is the area the FCA were looking at).

So, the scenario of having it mentioned generally in the contract terms is not the same as it being used.

You are probably better off waiting and trying again once the FCA has told consumers and lenders what they need to do.  By then, systems will be in place to handle it better than they currently are.

Micheldongelo

I got the same case closed response from Stellaris, so I emailed the original address and got the following:

Thank you for your email dated 22/11/2024 asking for confirmation of whether we paid the dealer a discretionary commission for your introduction to us.  

On 11th January 2024, the Financial Conduct Authority (FCA) announced that it will be using its powers under s166 of the Financial Services and Markets Act 2000 to review historical sales of motor finance agreements involving discretionary commission arrangements (DCA) across several firms. At that time, the FCA paused complaints handling involving DCAs until 24 September 2024.

Please note that on 30th July 2024, the FCA proposed a further pause to complaints handling of affected complaints (from 24 September 2024) to 4th December 2025.
 
Under its proposals, the FCA intends to extend the pause to the 8-week time-limit for all motor finance firms to provide a final response on these complaints. This would mean that firms would not have to issue a final response to DCA complaints until after 4 December 2025 at the earliest.
 
Accordingly, we will let you know when we respond to your complaint whether your complaint is subject to this pause and when you can expect to get your final response.

Kind regards, 
Customer Services
Stellantis Financial Services UK

Like the other users have said, this looks to have been pushed back. Although the case closed response makes it confusing 

Scepticmum

I was told on the phone by someone in Customer Service at Stellantis that all my contracts dating back to 2005 to 2020 with PSA finance - now Stellantis - had been found and would be posted to me. When I did nor receive them, I wrote to Stellantis requesting them and got the reply that contracts older than 7 years would not have been kept and was sent details of a contract dated 2013.
If I am not mistaken a contract dated 2013 is now 11 years old. The mind boggles!

DullGreyGuy

7 years from the settlement of the finance would be the expected retention period.

Tri2012

The same company advised earlier in the year positively for DCA then when I asked for an update in October I was told my case was closed! 

Between myself and husband we have had 5 cars and have emailed again tonight for the ‘any form of commission and reply is

‘After checking our records, we can tell you that we did not pay a discretionary commission to the dealer. Therefore, the guidance and rules announced by the FCA on 11 January 2024 is not applicable to your agreement. You can access the information provided by the FCA to consumers here : www.fca.org.uk/consumers/car-finance-complaints.’

The company haven't  updated their email response and certainly haven’t looked into anything as the reply was instant!

What a mess and what can customers do when they are so blatantly dismissing enquiries? FCA won’t look as the have at least 8 weeks to reply to an email they aren’t interested in! 

dunstonh

What a mess and what can customers do when they are so blatantly dismissing enquiries? FCA won’t look as the have at least 8 weeks to reply to an email they aren’t interested in! 

I suspect you mean the FOS, not the FCA.   However, the FOS won't look at it at all as the complaints process in regards to DCA is currently suspended pending the FCA report.    Currently, it is late 2025 but expected to be pushed back until 2026 or 2027.

No need to be in any hurry with any of this.