Motor Finance Agreement Timeline Query for DSA

pea789

I think I know the answer to this but just wanted to run a query by you more knowledgeable folk!

I started an order for a car on PCP in January 2021 but due to lead times on the vehicle being continuously pushed back I didn’t receive the vehicle until July 2021. The actual finance agreement was signed with Northridge in May/June (I would imagine).

I cannot recall the price changing for monthly payments etc from January to when I signed the document which is making me slightly query whether there is any chance of a potential refund (if eligible obviously).  

I’m presuming that as I had only signed paperwork with the broker and not Northridge before the deadline, then I would not be eligible for consideration for a claim? 

MyRealNameToo

You'd need to read MOTOR FINANCE INSTRUMENT 2020 to see how it was applied but normally it would be for agreement entered into on or after the effective date irrespective of when the original quote was done. 

The ban was announced 6 months before in July but brokers were given time to sort their systems out. Not everyone will have left it to the last minute to implement the changes plus not all operated with DCA nor used it in all cases even if was an option.