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HUGE car finance update signals ALL mis-sold commission complaints could come under probe
Comments
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Hoping its WIN WIN WIN for consumers0
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Still a ridiculous decision if the lenders fail the appeal.Largs said:Hoping its WIN WIN WIN for consumersI 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.1 -
I bought a car on finance in 2019. When I first signed the agreement it was with FCA Auto Finance, somewhere between 2022/2023 the finance company changed to CA Auto Finance. I've put in my complaint with CA, but would i need to put in a complaint also with FCA? Or does the one complaint cover it?
I finished paying for the car in 2024.
Thanks for any help or replies0 -
I bought a car on finance in 2019. When I first signed the agreement it was with FCA Auto Finance, somewhere between 2022/2023 the finance company changed to CA Auto Finance.I would be surprised if the FCA would allow a firm to use 'FCA' in a trading name. Although it may be the reason for the change.'ve put in my complaint with CA, but would i need to put in a complaint also with FCA?No. The FCA does not handle consumer complaints. Forget that the initials match.Even that may not be necessary now that the FCA are saying that a redress scheme almost certainly going to be put in place.
Or does the one complaint cover it?
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.0 -
Thanks for your very helpful reply.dunstonh said:I bought a car on finance in 2019. When I first signed the agreement it was with FCA Auto Finance, somewhere between 2022/2023 the finance company changed to CA Auto Finance.I would be surprised if the FCA would allow a firm to use 'FCA' in a trading name. Although it may be the reason for the change.'ve put in my complaint with CA, but would i need to put in a complaint also with FCA?No. The FCA does not handle consumer complaints. Forget that the initials match.Even that may not be necessary now that the FCA are saying that a redress scheme almost certainly going to be put in place.
Or does the one complaint cover it?
I'll await further information from them.
Thanks again0
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