Alert: FCA Investigates Unfair Car Finance Commissions – Could This Affect You?

07-03-2024
Alert: FCA Investigates Unfair Car Finance Commissions – Could This Affect You?

The Financial Conduct Authority (FCA) has launched an investigation into unfair car finance commissions. After 28 January 2021, the FCA banned discretionary commission arrangements (DCA’s). This stopped lenders allowing brokers to increase interest rates on car finance as this could lead to brokers and car dealerships earning more commission. Please be aware that claims management companies will offer to help you and will charge you for their services.

 The Motorfinity Group always ensures that we act in the best interests of our consumers. Our company values - Simplicity, Convenience, Service and Value - are built into our ethos. We make decisions based on the best value for our customers - the lowest APRs on the market and not what makes us money.

 Motorfinity Group Limited has never accepted any Discretionary Commission Arrangements from any of our panel of lenders prior to the FCA’s changes in January 2021. If you would still like confirmation of whether you are affected by the DCA payments, feel free to use our guide and information below:

  • Did you have a live finance product in place prior to 28 January 2021?
  • Was this Hire Purchase, (HP) or Personal Contact Purchase (PCP) YES/NO? Personal Contact Hire, (leasing) is not in these criteria.
  • NO? Great news! You are not affected by this investigation.
  • Motorfinity did not provide any 0% finance prior to January 2021, and these are not covered in the DCA.


If you still believe you are affected, please refer your enquiry directly to the finance lender. A list is included at the end of this document. These are our approved lenders. 

 To submit a claim, do so as soon as possible so that your claim isn’t rejected. 

 The FCA have extended the time scale whilst it investigates. It is currently scheduled for 25 September 2024, but may be extended. 

More information can be found on the FCA's consumer guide on their discretionary commission arrangements page. If you can’t remember, or do not have any details to hand about your finance lender, you can find information in the following ways:

  • Contact ClearScore or Experian who will hold details of any current finance product.
  • Use your bank statement showing the lender and a reference for that payment.
  • Find your lender’s information on the finance product suitability document issued by Motorfinity at the time of your agreement.
  • Search your emails for your finance contracts.


Alternatively, Motorfinity can help by searching our records from July 2019.

  • When contacting your lender, you may be asked for the following information:

  • Agreement number
  • Vehicle registration number
  • Personal details including DOB.


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