Car Finance Scandal | How To Make A Claim
Simply contact your car finance company/ies via email and copy and paste the below template but with your information.
All information provided at MiAWorld is completely free and without any marketing promo or adds to distract you. we appreciate any donations made to the cause to help us continue this service.
Just CLICK HERE to support from as little as £1
_____________
[COPY AND PASTE BELOW]
Subject: Request for Information and Potential Complaint Regarding Motor Finance Commission Arrangements
Dear Sir/Madam,
On 11 January 2024, the Financial Conduct Authority (FCA) launched an investigation into unfair historical motor finance commission arrangements. This has made me aware that I may have been affected by such practices. As I held (or currently hold) a finance agreement with your firm, I am writing to request clarification on the following points.
1. Request for Information (Not a Complaint)
Please confirm whether any or all of my finance agreements with your firm (details provided below) involved any of the following commission arrangements between you, the broker, dealer, or any other party involved in the transaction:
A Discretionary Commission Arrangement (DCA) – where the broker or dealer was able to vary the interest rate and benefit from higher commission as a result.
A High Commission Arrangement – where the total commission represented a significant proportion of the total cost of credit (for example, 35% or more) and/or exceeded 10% of the amount financed.
A Contractual Tie or Exclusivity Arrangement – where the broker or dealer was restricted to recommending only certain lenders or products due to a commercial agreement or exclusivity clause.
This section of my communication is purely a request for information, not a complaint or expression of dissatisfaction, and therefore should not be subject to the FCA’s temporary pause on complaint handling.
If you are unable or unwilling to provide this information, please treat this as a data subject access request under the Data Protection Act 2018 / UK GDPR and provide all relevant information you hold regarding my finance agreement(s) and any associated commission arrangements.
2. Formal Complaint (If Any of the Above Apply)
If any of the above commission arrangements did apply to my finance agreement(s), please treat this communication as a formal complaint. My complaint arises from the fact that these arrangements—and their potential impact on the cost of my finance—were not adequately disclosed to me at the time of entering the agreement.
Please confirm within 28 days that my complaint has been logged and that it will be investigated in line with your regulatory obligations under the FCA’s DISP rules.
Details to Help Locate My Agreement(s):
Full Name: [Insert Name]
Current Address: [Insert Address]
Previous Address (if applicable during finance term): [Insert Previous Address]
Vehicle Registration(s): [Insert Vehicle Reg(s)]
Approximate Date(s) of Agreement(s): [Insert Dates]
Thank you for your attention to this matter. I look forward to your written response within 28 days of this communication.
Kind regards,
[Your Full Name]
[Your Address]
[Your Contact Number]
[Your Email Address]
_____________