“Did you buy a car on finance between April 2007 and January 2021? You could be owed thousands!”
Discretionary Commission Agreements being looked at
FCA will issue a ruling on DCAs in September
Claim firms already testing waters for compensation
DON’T worry, Auto Express isn’t about to join the bandwagon of claims-management firms advertising on social media and elsewhere, using statements like the one above to get their claws into a share of any payout you – and millions of others – may one day be entitled to as a result of a ‘mis-sold’ finance agreement.
At issue are finance agreements including a non-disclosed Discretionary Commission Agreement between your lender and your dealer, allowing the latter to secretly tweak interest rates for more or less commission. DCAs were banned in 2021, but were commonplace before that, especially in
