DCA being - This stopped lenders allowing brokers (including car dealers) to increase interest rates on car finance, so that they'd be bunged more commission (even though they did no work). It's an unfair practice, as consumers weren't told, and many – thinking it a fixed price – didn't negotiate.
Just filed my exploratory statement and request (happy to post email address, title and email content here if required - copied from Martin Lewis website).
Just wondering if anyone who has had PCP on a Jaguar before, and has submitted a claim to Black Horse (who run Jaguar Finance), had any replies other than the default "thanks for your email".
Discretionary Commission Arrangements - DCA
Not with Jaguar Finance or Black Horse but been an ongoing saga with VWG UK - effectively they fobbed me off (like many others) so I escalated to the Ombudsman who have taken the case (like many others) but mostly ground to a halt due to legal proceedings, see below I received from Ombudsman early this month;
I am writing with an update about complaints related to motor finance commission – and why we’ve not been able to resolve your complaint yet.
We now have over 30,000 open complaints, including yours. We’re focused on making sure that people get the right and fair compensation where things have gone wrong as soon as we can. And on giving everyone a clear answer no matter what the outcome.
There are lots of things happening in the wider world which could impact the complaints we’re looking at.
FCA review of the motor finance sector
You may also have seen that the financial services regulator, the Financial Conduct Authority (FCA), has proposed an extension to its review of discretionary commission arrangements (DCAs). This won’t impact your complaint though – and we will continue to investigate your complaint as far as possible. We’ll carry on updating our website with the most recent information about the FCA’s review.
Court proceedings
In early July, three motor finance commission related court cases were heard in the Court of Appeal. We are waiting for the Court of Appeal to hand down its judgment. Once it has done this, we will review how it might impact the outcomes we reach on cases.
Separately, Clydesdale Financial Services Limited (trading as Barclays Partner Finance) started judicial review proceedings in April 2024 of one of our decisions to uphold a complaint relating to a DCA.
The Court has indicated a hearing is likely to take place in the autumn, but we will keep you updated if this changes.
Our plans
Where complaints aren’t affected by the various court proceedings, we’re giving initial answers to our customers. Where a complaint could be impacted by the court proceedings, we’re setting out the key facts of the case to both consumers and businesses and asking them to confirm if they agree. This means we will be able to give answers as quickly as possible – once the issues the courts are considering are resolved.
We don’t know when the decisions from the courts will be, but we will update our website when we have more information.
If you haven’t had an initial answer from us, or confirmation of the facts of the case, we will contact you as soon as possible. If we contact you, please do read what we say and reply if we ask you to. This will help us progress your complaint as quickly as we can.
Where we have done everything we can on a case, we’re arranging for the case to be centrally managed, rather than by an individual case handler. This will allow our case handers to keep progressing more complaints. When we’re able to do more, a case handler will be reassigned to the complaint and they will let you know the next steps.
At this point you don’t need to contact us, and we will contact you again in due course.
Kind regards
Viv Kelly | Ombudsman Director | 0800 023 4567
Financial Ombudsman Service | Exchange Tower, London, E14 9SR
I am writing with an update about complaints related to motor finance commission – and why we’ve not been able to resolve your complaint yet.
We now have over 30,000 open complaints, including yours. We’re focused on making sure that people get the right and fair compensation where things have gone wrong as soon as we can. And on giving everyone a clear answer no matter what the outcome.
There are lots of things happening in the wider world which could impact the complaints we’re looking at.
FCA review of the motor finance sector
You may also have seen that the financial services regulator, the Financial Conduct Authority (FCA), has proposed an extension to its review of discretionary commission arrangements (DCAs). This won’t impact your complaint though – and we will continue to investigate your complaint as far as possible. We’ll carry on updating our website with the most recent information about the FCA’s review.
Court proceedings
In early July, three motor finance commission related court cases were heard in the Court of Appeal. We are waiting for the Court of Appeal to hand down its judgment. Once it has done this, we will review how it might impact the outcomes we reach on cases.
Separately, Clydesdale Financial Services Limited (trading as Barclays Partner Finance) started judicial review proceedings in April 2024 of one of our decisions to uphold a complaint relating to a DCA.
The Court has indicated a hearing is likely to take place in the autumn, but we will keep you updated if this changes.
Our plans
Where complaints aren’t affected by the various court proceedings, we’re giving initial answers to our customers. Where a complaint could be impacted by the court proceedings, we’re setting out the key facts of the case to both consumers and businesses and asking them to confirm if they agree. This means we will be able to give answers as quickly as possible – once the issues the courts are considering are resolved.
We don’t know when the decisions from the courts will be, but we will update our website when we have more information.
If you haven’t had an initial answer from us, or confirmation of the facts of the case, we will contact you as soon as possible. If we contact you, please do read what we say and reply if we ask you to. This will help us progress your complaint as quickly as we can.
Where we have done everything we can on a case, we’re arranging for the case to be centrally managed, rather than by an individual case handler. This will allow our case handers to keep progressing more complaints. When we’re able to do more, a case handler will be reassigned to the complaint and they will let you know the next steps.
At this point you don’t need to contact us, and we will contact you again in due course.
Kind regards
Viv Kelly | Ombudsman Director | 0800 023 4567
Financial Ombudsman Service | Exchange Tower, London, E14 9SR
Buffering...
Interesting. I've issued requests/complaints for eights cars across four different financial service providers of which four of them are with VW but direct with the finance provider.
I've only had the default, thanks for contacting us, we are extremely busy, but will reply. So not escalated anything to financial ombudsman.
I've only had the default, thanks for contacting us, we are extremely busy, but will reply. So not escalated anything to financial ombudsman.
400 Sport AWD - MY18 - Black
I've also done the same with the MSE letter template thing. I should imagine the finance companies are somewhat overwhelmed with the amount of complaints going in, and rightly so given their reputation for pulling people's ears off and pants down
MY18 V6S AWD P400 Santorini Black
MY16 V6S AWD British Racing Green (Rejected)
MY16 V6S AWD British Racing Green (Rejected)
Not specifically PCP, but I’m sure it applies to all vehicle finance?
Anyway, three here with Black Horse and so far, just the standard replies. I think they’ll be inundated given the scale of how the industry conducted business.
I have a number of others with different lenders, too. I think it’s largely a waiting game to see the outcome of the Ombudsman’s ruling.
SVR Coupe in Ammonite.
