Blog
Understanding Car Finance Complaint Handling Rules: What the FCA’s New Proposal Means for You
The Financial Conduct Authority’s new proposal extends response times for car finance complaints related to discretionary commission arrangements (DCAs) and non-DCAs, giving companies until May or December 2025 to respond. These proposals also give consumers more time to escalate concerns to the Financial Ombudsman Service (FOS) in case of unfavourable responses from firms.
PPI Claims vs Car Finance Claims: What’s the Difference?
Payment Protection Insurance (PPI) and car finance claims are by-products of financial services that financial firms offer. PPI claims often involve complaints such as the consumer's lack of awareness of the policy or being pressured to take out the policy upon credit card application. On the other hand, car finance claims usually stem from undisclosed commissions and unfair car finance agreements. Consumers need to be more aware of these financial claims to be more empowered and not be taken advantage of by financial firms.
Claim Car Finance: A Step-by-Step Guide to Filing a Car Finance Complaint
To claim car finance, consumers who have been misled regarding car finance options have the right to submit complaints to their lenders or brokers regarding undisclosed commission arrangements. If complaints remain unresolved, individuals are encouraged to escalate their cases to the Financial Ombudsman Service (FOS).
Car Finance Issues: Common Challenges Faced by Consumers in Complaints
Consumers are faced by multiple challenges in light of the recent commission arrangement scandal in the motor financing sector. With various obstacles such as volume of reports and complex finance agreements, getting compensation for mis-sold contracts may be more difficult for the average consumer.
FCA Car Finance Regulation: The Impact of the FCA’s Extension on the Car Finance Industry
The Financial Conduct Authority (FCA) recently proposed changes in the motor finance industry, including expansion of eligibility for claims and extension of timelines. The FCA car finance changes are expected to affect both consumers and firms.
Is my Car Finance Valid? Common Eligibility Criteria Explained
“Is my car finance claim eligible for compensation?” This is one of the most frequently asked questions by consumers, as they have seen reports about the car finance commission complaints received by the Financial Service Ombudsman. This article will help consumers learn the common eligibility criteria for car finance claims, be guided on how to assess car finance agreements properly and explore the steps to process car finance compensation claims with ease and confidence.
The Timeline of PCP Complaints & Claims: Key Developments in Consumer Rights
The Financial Conduct Authority (FCA) has initiated essential developments in the motor finance industry over the past several years, starting with banning discretionary commissions arrangements (DCAs) in 2021 leading up to the expansion of coverage and extension of the timeline.
Car Finance Compensation: Key Facts You Need to Know about Complaint Eligibility
Consumers filing for car finance compensation may be eligible for payouts if they are victims of misrepresented commission structures such as discretionary commission arrangements (DCAs) and non-DCAs or fixed commissions.
How to Use a Car Finance Claim Calculator for Maximum Refunds
A car finance claim calculator can help consumers estimate compensation they could receive for hidden commissions and unfair practices they were steered to agree to when the car finance dealers applied the “discretionary commission arrangement” in their car finance agreement. The Financial Conduct Authority (FCA) has been investigating these complaints, and consumers are encouraged to file their complaints if they suspect they were mis-sold car finance.