Motorists urged to “complain now” as they could be owed thousands of pounds
manchestereveningnews.co.ukMotorists are being urged to make a complaint as soon as possible as they could be owed a significant amount of cash. In the latest Money Saving Expert newsletter, car owners were told they could be owed thousands of pounds.
It comes as the Financial Conduct Authority (FCA) continues its investigation into claims that a high number car finance firms made discretionary commission arrangements (DCA) without a customer's knowledge.
As a result of the discretionary commission, many people who purchased a car on Personal Contract Purchases (PCP) and Hire Purchases (HP) may have been unaware that they could have negotiated to a lower price and thus potentially spent more than they would have otherwise.
The practice was outright banned by the FCA in 2021, but motorists may still be able to receive compensation, depending on the outcome of the investigation on September 25 of this year.
Read more on manchestereveningnews.co.uk