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Car finance DCA and Fixed Commission update
Markdavid1962
Posts: 75 Forumite
Well just had an update on three of my DCA submissions and wondered if anyone else has had an update as its been quiet for a while due to the consultation period so was a little surprised at the below. I did submit these requests along time ago.
Has anyone else had any communication, these three updates all came from the same Finance company
Vehicle 1
After checking our records, we can confirm that we did pay scaled discretionary commission to the retailer. We'll treat your email as your complaint, unless otherwise advised by you. We normally have eight weeks to send you a final response however, the pause introduced by the Financial Conduct Authority (FCA) means the period starting on 17 November 2023 and ending on (and including) 31 May 2026 is not counted when calculating this eight week period.
Vehicle 2
After checking our records, we can confirm that we did pay fixed commission to the retailer. We'll treat your email as your complaint, unless otherwise advised by you. We normally have eight weeks to send you a final response however, the pause introduced by the Financial Conduct Authority (FCA) means the period starting on 17 November 2023 and ending on (and including) 31 May 2026 is not counted when calculating this eight week period.
Vehicle 3
After checking our records, we can confirm that we did pay fixed commission to the retailer. We'll treat your email as your complaint, unless otherwise advised by you. We normally have eight weeks to send you a final response however, the pause introduced by the Financial Conduct Authority (FCA) means the period starting on 17 November 2023 and ending on (and including) 31 May 2026 is not counted when calculating this eight week period.
Has anyone else had any communication, these three updates all came from the same Finance company
Vehicle 1
After checking our records, we can confirm that we did pay scaled discretionary commission to the retailer. We'll treat your email as your complaint, unless otherwise advised by you. We normally have eight weeks to send you a final response however, the pause introduced by the Financial Conduct Authority (FCA) means the period starting on 17 November 2023 and ending on (and including) 31 May 2026 is not counted when calculating this eight week period.
Vehicle 2
After checking our records, we can confirm that we did pay fixed commission to the retailer. We'll treat your email as your complaint, unless otherwise advised by you. We normally have eight weeks to send you a final response however, the pause introduced by the Financial Conduct Authority (FCA) means the period starting on 17 November 2023 and ending on (and including) 31 May 2026 is not counted when calculating this eight week period.
Vehicle 3
After checking our records, we can confirm that we did pay fixed commission to the retailer. We'll treat your email as your complaint, unless otherwise advised by you. We normally have eight weeks to send you a final response however, the pause introduced by the Financial Conduct Authority (FCA) means the period starting on 17 November 2023 and ending on (and including) 31 May 2026 is not counted when calculating this eight week period.
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Comments
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The FCA scheme is under consultation, with the final rules expected to be published in the coming months to start processing after 31 May.
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
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