Car Finance miss selling from dealer linked to finance

Markdavid1962

Just read martins post re if the car dealer and finance were linked like VW Dealer and VW Finance or Mercedes Dealer mercedes finance "it wont count as contractual miss selling as the link was obvious"

I have 3 claims were I have received a response, the first being scaled DCA, the other two are fixed commission being paid.

Does the above statement in Martins post mean that my first complaint will now NOT pay out as its scaled DCA even though the Finance company has confirmed Scaled DCA was applied to the agreement.

dunstonh

There are different qualifying grounds for complaints. Where the dealer and finance company are clearly linked (for example, VW dealer and VW Finance), that usually weakens a complaint that is only about not being told commission was paid, because the relationship was obvious. That is separate from complaints about DCA.

A complaint about DCA can still potentially succeed. DCA can be positive, neutral or negative; it is only a problem where it has been used to increase your rate and put you in a worse position than you otherwise would have been. Where DCA was available to use but not used, or was used to keep or reduce the rate, there is generally no financial loss to claim for.

At this stage, you have been told your contract could have DCA but you don't know how. That will follow in due course once they move to the next stage.

lordlumsdale

I had a finance agreement with Mercedes finance in 2014. It was a PCP in a private name that loan amount was £31,700. Would this still be covered under the discretionary commission?  

The interest rate was 7.7% and the total amount of interest was £5928.

I wrote to Mercedes finance using your profile letter and I got a receipt from them to say that they will be in touch in accordance with the normal procedures.

The reason I ask is the mention of disallowing agreements over £25,000. 

Does that only apply to partnerships and Soul traders and not individual individuals?  

Nasqueron

https://forums.moneysavingexpert.com/discussion/comment/81955020#Comment_81955020

Only Mercedes would know if DCA was applied, this isn't a case of "I had finance therefore I am owed money" it's "I had finance, if the dealer used the DCA model negatively, I may be owed money"

The £25,000 limit is for sole traders as the guide says:

Vehicles for personal use 

(or as a sole trader or small partnership, in which case the loan must be under £25,000)

If it was a private sale then the limit doesn't apply here

Interest rate is irrelevant, you could have been affected by DCA, you could have had a poor credit profile

Wait for Mercedes to reply