Car Finance DCA and fixed commission

Markdavid1962

So like most of us have used Martins form and submitted our complaints(five in total), I did back in 2024 and have had responses. My four responses to date range from confirming DCA in two of them and also confirming Fixed commission was paid in the other two claims. The fifth and final complaint has not responded yet.

My plan is to let them run their course after the Redress scheme appeals etc but now I am wondering about the two with the fixed commission, they are cars from 2010 and 2015 (I no longer have the financial agreements so can not work out the cost of credit) , with the Regulators redress scheme now stating it has to be high at 39% of the total cost of credit and 10% of loan value for Fixed Commission would I be better taking these two via a Claims Management company.

The fact that I have had responses confirming the fixed commission was paid will it make any difference if the redress scheme fails to pay these out, would a claims management firm have any success on a no win no fee basis.

Responses state

"After checking our records, we can confirm that we did pay fixed commission to the retailer. We'll treat your email as your complaint"

My thoughts are to wait and see but it is frustrating knowing fixed commission has been paid but if it does not meet the 39% and 10% measures I wont receive anything, both cars were over £45000 at the time of purchase

dunstonh

So like most of us have used Martins form and submitted our complaints(five in total),

I suspect most of us haven't.

would I be better taking these two via a Claims Management company.

If the CMC uses the redress scheme, then you just wasted a load of money. If they decide to try the courts then you have higher costs. And this was the point made by the FCA. I.e., you may get more via the courts, but by the time you've paid court fees and claims company fees (or however they package it), you would end up with a higher gross figure but a lower net figure.

You also stand a chance of losing everything. The fact that commission existed isn't necessarily a legal issue. You are not guaranteed success via the courts if that is the only thing that is being looked at in the legal action. If the courts rule against you, you can not use the scheme or the FOS.

Nasqueron

https://forums.moneysavingexpert.com/discussion/6668125/car-finance-dca-and-fixed-commission

What is the issue about the commission issue (outside of DCA)? That is how sales people usually work - they get commission related to sales as they have the market and can get the best deals