Discretionary Commission Arrangement and the FCA

Is anyone here making an inquiry about discretionary commission arrangements and car finance ahead of the FCA ruling? It would be good to hear how other people have got on.

Personally I have made 2 enquiries to BMW finance and they claim they can’t find my details despite being given agreement numbers, addresses, car number plates etc etc

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I got the same reply from my finance company (FCA Automotive) and then they abruptly closed the case so I had to start over with a fresh enquiry. I’m still waiting to see what they say this time round.

I’ve got three that have all acknowledged that I had a DCA in place
Mercedes Finance
Barclays Partner Finance

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I had 2, with VWFS, confirmed that no DCA was included :eyes: :frowning_face:

If they’re older than 6 years, that may be the case.

I’ve submitted 4 claims, 2 have acknowledged the claim, 2 haven’t yet (and have about 12 days left to respond)

Blackhorse :white_check_mark:
Close Brothers :white_check_mark:
PSA finance x 2 :x: :x:

4 submitted:

Mercedes x2: Generic acknowledgment email, no response to case.
Blackhorse: DCA specific acknowledgment email, no response to case.
PSA (Stellantis): No response.

BMW FS and Blackhorse submitted a while back when Martin Lewis mentioned it in one of his newsletters.

Both of which have acknowledged my request.

Acknowledged the request but not come back on wether you had a DCA? Would be interested to see how you get on with BMW as they have been a bit useless for me

I think it’s way too soon for any of them to acknowledge DCA.

The FCA has paused the requirements on firms to deal with complaints until at least 25th September 2024.

Yes but they are still telling people now if you had a DCA in place

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I’ve had another holding update from Blackhorse overnight: