OV9

Posted: **Tue May 13, 2025 8:59 pm**

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).

Posted: **Wed May 14, 2025 11:39 am**

I should really do something about this.

Posted: **Wed May 14, 2025 12:01 pm**

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.

Posted: **Wed May 14, 2025 12:30 pm**

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.

Posted: **Wed May 14, 2025 2:17 pm**

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

Posted: **Thu May 15, 2025 2:00 pm**

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.

Posted: **Thu May 15, 2025 2:36 pm**

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?

Posted: **Thu May 15, 2025 3:04 pm**

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.

Posted: **Thu May 15, 2025 4:07 pm**

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 tbh It's all in the wife's name and I doubt she'll be bothered.

Anyone any idea of the level of payout?

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.

Posted: **Thu May 15, 2025 4:53 pm**

GG. wrote: Thu May 15, 2025 4:07 pm
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 tbh It's all in the wife's name and I doubt she'll be bothered.

Anyone any idea of the level of payout?
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.

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.

Posted: **Fri May 16, 2025 11:43 am**

Swervin_Mervin wrote: Thu May 15, 2025 4:53 pm
GG. wrote: Thu May 15, 2025 4:07 pm
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 tbh It's all in the wife's name and I doubt she'll be bothered.

Anyone any idea of the level of payout?
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.
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.

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?

Posted: **Fri May 16, 2025 11:46 am**

Ascender wrote: Fri May 16, 2025 11:43 am
Swervin_Mervin wrote: Thu May 15, 2025 4:53 pm
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.
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.
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?

There's a template on moneysupermarket so if you have the finance agreement number and reg its dead simple.

Posted: **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?

Posted: **Fri May 16, 2025 5:17 pm**

GG. wrote: Fri May 16, 2025 11:46 am
Ascender wrote: Fri May 16, 2025 11:43 am
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.
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?
There's a template on moneysupermarket so if you have the finance agreement number and reg its dead simple.

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.

Posted: **Sat May 17, 2025 10:43 am**

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?

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:

https://www.moneysavingexpert.com/recla ... r-finance/

I guess starting the process ourselves only seems to help though based on what site says.

Posted: **Thu Jun 05, 2025 12:51 pm**

GG. wrote: Fri May 16, 2025 11:46 am
Ascender wrote: Fri May 16, 2025 11:43 am
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.
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?
There's a template on moneysupermarket so if you have the finance agreement number and reg its dead simple.

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.

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.

Posted: **Thu Jun 05, 2025 4:58 pm**

Ascender wrote: Thu Jun 05, 2025 12:51 pm
GG. wrote: Fri May 16, 2025 11:46 am
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?
There's a template on moneysupermarket so if you have the finance agreement number and reg its dead simple.
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.

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.

Whats their take on win?

Posted: **Fri Aug 01, 2025 5:09 pm**

Supreme Court sides with lenders

https://news.sky.com/story/money-latest ... s-13040934

Posted: **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

Posted: **Fri Aug 01, 2025 7:14 pm**

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

Martin Lewis reckons the Discretionary Credit Agreements which is what most people will have had will be paid out and quite quickly now.

OV9

FCA Investigation - Car Finance

Re: FCA Investigation - Car Finance

Re: FCA Investigation - Car Finance

Re: FCA Investigation - Car Finance

Re: FCA Investigation - Car Finance

Re: FCA Investigation - Car Finance

Re: FCA Investigation - Car Finance

Re: FCA Investigation - Car Finance

Re: FCA Investigation - Car Finance

Re: FCA Investigation - Car Finance

Re: FCA Investigation - Car Finance

Re: FCA Investigation - Car Finance

Re: FCA Investigation - Car Finance

Re: FCA Investigation - Car Finance

Re: FCA Investigation - Car Finance

Re: FCA Investigation - Car Finance

Re: FCA Investigation - Car Finance

Re: FCA Investigation - Car Finance

Re: FCA Investigation - Car Finance

Re: FCA Investigation - Car Finance

Re: FCA Investigation - Car Finance