DCA – Case Closed: No Claim

We are writing to inform you that we have heard from your lender that discretionary commission wasn’t added to your vehicle finance agreement, which means you were not affected by this practice.

However, as you may have seen in the press recently, a case that made it to the Court of Appeal, resulted in a ruling that ‘consumers need to know all the material facts including the amount of commission.’ This ruling means a shift towards possibly being able to recover lower levels of car finance commission too.

The Financial Conduct Authority has proposed a redress scheme that might offer compensation where the commission rate was deemed excessive albeit not as high as discretionary commission arrangements.  It is possible therefore that your lender could review the response given and we remain optimistic that you could still receive compensation therefore.  As soon as we know more, we will be in touch.