FCA Investigation - Car Finance
Re: FCA Investigation - Car Finance
So I got an email response from BlackHorse - they confirmed my finance agreement had a discretionary commission arrangement on it and they've therefore logged a complaint and will respond in the prescribed timescales (unclear as to what they are).
Re: FCA Investigation - Car Finance
I should really do something about this.
- Rich B
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Re: FCA Investigation - Car Finance
As i thought, my 1 and only financed car (M2 with blackhorse) was after the deadline. I’m now forum approved “large CASH deposit” only.
Re: FCA Investigation - Car Finance
I financed both the M135i and M240i via BMW and received an email about both saying they had undisclosed commission and I will hear back after December.
Re: FCA Investigation - Car Finance
Do n you need to supply registration numbers for the cars? I had my plate on all my cars so cant really remember most of the registrations
Re: FCA Investigation - Car Finance
I emailed BMW yesterday and had 5 separate replies today for each of the agreements I've had. 3 of them had DCA and 2 Fixed Commission, so sounds like there's a possibility for a few quid there. I used the MSE form to generate the email and sent it myself.
You settle up, I'll go get the Jag.
- Swervin_Mervin
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Re: FCA Investigation - Car Finance
I imagine our Skoda might be eligible, but I'm not sure how arsed we are tbh
It's all in the wife's name and I doubt she'll be bothered.
Anyone any idea of the level of payout?

Anyone any idea of the level of payout?
Re: FCA Investigation - Car Finance
Potentially 9 agreements in the timeframe.
2 cars i cant remember the registration numbers of (were on my plate) and have no paperwork. Cant even remember if i had finance on those 2 or bank loans.
I can do an information request to the DVLA they say to get the reg numbers.
2 cars i cant remember the registration numbers of (were on my plate) and have no paperwork. Cant even remember if i had finance on those 2 or bank loans.
I can do an information request to the DVLA they say to get the reg numbers.
Re: FCA Investigation - Car Finance
Could be signficant but obviously depends how expensive your finance was / how much interest you were paying.Swervin_Mervin wrote: Thu May 15, 2025 2:36 pm I imagine our Skoda might be eligible, but I'm not sure how arsed we are tbhIt's all in the wife's name and I doubt she'll be bothered.
Anyone any idea of the level of payout?
Mine was £34k over 5 years (though I think I cleared it after 4) at 8.5%. There is a calculator online saying that on those figures it could be £4k. Think that is probably overblown but there is a lot of commentary that it could be in the thousands.
- Swervin_Mervin
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Re: FCA Investigation - Car Finance
Ah right. So could be worth it. I can't recall what she financed but suspect it was in the 20s, on a 4yr PCP I believe. Maybe I'll have a look after all.GG. wrote: Thu May 15, 2025 4:07 pmCould be signficant but obviously depends how expensive your finance was / how much interest you were paying.Swervin_Mervin wrote: Thu May 15, 2025 2:36 pm I imagine our Skoda might be eligible, but I'm not sure how arsed we are tbhIt's all in the wife's name and I doubt she'll be bothered.
Anyone any idea of the level of payout?
Mine was £34k over 5 years (though I think I cleared it after 4) at 8.5%. There is a calculator online saying that on those figures it could be £4k. Think that is probably overblown but there is a lot of commentary that it could be in the thousands.
- Ascender
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Re: FCA Investigation - Car Finance
You could always just use one of those firms who'll do it all for you and take a percentage of any compensation due if you take the view that anything you get is effectively free, bonus money?Swervin_Mervin wrote: Thu May 15, 2025 4:53 pmAh right. So could be worth it. I can't recall what she financed but suspect it was in the 20s, on a 4yr PCP I believe. Maybe I'll have a look after all.GG. wrote: Thu May 15, 2025 4:07 pmCould be signficant but obviously depends how expensive your finance was / how much interest you were paying.Swervin_Mervin wrote: Thu May 15, 2025 2:36 pm I imagine our Skoda might be eligible, but I'm not sure how arsed we are tbhIt's all in the wife's name and I doubt she'll be bothered.
Anyone any idea of the level of payout?
Mine was £34k over 5 years (though I think I cleared it after 4) at 8.5%. There is a calculator online saying that on those figures it could be £4k. Think that is probably overblown but there is a lot of commentary that it could be in the thousands.
Cheers,
Mike.
Mike.
Re: FCA Investigation - Car Finance
There's a template on moneysupermarket so if you have the finance agreement number and reg its dead simple.Ascender wrote: Fri May 16, 2025 11:43 amYou could always just use one of those firms who'll do it all for you and take a percentage of any compensation due if you take the view that anything you get is effectively free, bonus money?Swervin_Mervin wrote: Thu May 15, 2025 4:53 pmAh right. So could be worth it. I can't recall what she financed but suspect it was in the 20s, on a 4yr PCP I believe. Maybe I'll have a look after all.GG. wrote: Thu May 15, 2025 4:07 pm
Could be signficant but obviously depends how expensive your finance was / how much interest you were paying.
Mine was £34k over 5 years (though I think I cleared it after 4) at 8.5%. There is a calculator online saying that on those figures it could be £4k. Think that is probably overblown but there is a lot of commentary that it could be in the thousands.
Re: FCA Investigation - Car Finance
I thought that the ruling had said that it was the finance companies legal responsibility to contact and reimburse people?
Re: FCA Investigation - Car Finance
Wonder if its a better strategy to get someone to do the chasing. There are two cars i don't have anything for. These places say they can find agreements but i don't want to be tied in to a commission for the sake of sending a few emails and sacrifice not doing anything for the two i have no details on. Those were lower finance agreements anyway. Think the Audi was £6500 and the Focus ST about £8000.GG. wrote: Fri May 16, 2025 11:46 amThere's a template on moneysupermarket so if you have the finance agreement number and reg its dead simple.Ascender wrote: Fri May 16, 2025 11:43 amYou could always just use one of those firms who'll do it all for you and take a percentage of any compensation due if you take the view that anything you get is effectively free, bonus money?Swervin_Mervin wrote: Thu May 15, 2025 4:53 pm
Ah right. So could be worth it. I can't recall what she financed but suspect it was in the 20s, on a 4yr PCP I believe. Maybe I'll have a look after all.
- ShockDiamonds
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Re: FCA Investigation - Car Finance
Just done a little reading on this (using sources as others have already suggested), as it all sounds too good to be true. Normally in law ignorance is no defence I thought, but the fact customers claim they didn’t know seems enough to give credence to this. Seems indeed the case that folks don’t necessarily need to chase because relevant customers will be impacted:Zonda_ wrote: Fri May 16, 2025 1:56 pm I thought that the ruling had said that it was the finance companies legal responsibility to contact and reimburse people?
https://www.moneysavingexpert.com/recla ... r-finance/
I guess starting the process ourselves only seems to help though based on what site says.
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Re: FCA Investigation - Car Finance
Oh, totally. That is 100% the way to do this, but I'm a lazy get so I've just signed up to a firm to do it for me. A lot of our stuff is in storage still, including paperwork, so I'm just taking the view that if there's any money at all to come out of this, its a bonus so they can do the legwork.GG. wrote: Fri May 16, 2025 11:46 amThere's a template on moneysupermarket so if you have the finance agreement number and reg its dead simple.Ascender wrote: Fri May 16, 2025 11:43 amYou could always just use one of those firms who'll do it all for you and take a percentage of any compensation due if you take the view that anything you get is effectively free, bonus money?Swervin_Mervin wrote: Thu May 15, 2025 4:53 pm
Ah right. So could be worth it. I can't recall what she financed but suspect it was in the 20s, on a 4yr PCP I believe. Maybe I'll have a look after all.
I did that a few weeks ago. They were pretty quick to say they've contacted my last two lenders and then yesterday they've contacted a further three, so they're obviously just working backwards and have so far done 500% more than I would have done by now.
Cheers,
Mike.
Mike.
Re: FCA Investigation - Car Finance
Whats their take on win?Ascender wrote: Thu Jun 05, 2025 12:51 pmOh, totally. That is 100% the way to do this, but I'm a lazy get so I've just signed up to a firm to do it for me. A lot of our stuff is in storage still, including paperwork, so I'm just taking the view that if there's any money at all to come out of this, its a bonus so they can do the legwork.GG. wrote: Fri May 16, 2025 11:46 amThere's a template on moneysupermarket so if you have the finance agreement number and reg its dead simple.Ascender wrote: Fri May 16, 2025 11:43 am
You could always just use one of those firms who'll do it all for you and take a percentage of any compensation due if you take the view that anything you get is effectively free, bonus money?
I did that a few weeks ago. They were pretty quick to say they've contacted my last two lenders and then yesterday they've contacted a further three, so they're obviously just working backwards and have so far done 500% more than I would have done by now.
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Re: FCA Investigation - Car Finance
Cheers,
Ian
Ian
Re: FCA Investigation - Car Finance
On 2 of the 3 cases but the one regarding non-disclosure of commission was upheld.
I let the legal eagles comment after reading the ruling
I let the legal eagles comment after reading the ruling

Re: FCA Investigation - Car Finance
Martin Lewis reckons the Discretionary Credit Agreements which is what most people will have had will be paid out and quite quickly now.Carlos wrote: Fri Aug 01, 2025 6:29 pm On 2 of the 3 cases but the one regarding non-disclosure of commission was upheld.
I let the legal eagles comment after reading the ruling![]()