On 11 January 2024, the Financial Conduct Authority (FCA) issued a policy statement temporarily pausing the requirement for firms to provide a final response to complaints relating to Discretionary Commission Arrangements within the standard 8-week timeframe.
This pause applies to complaints about vehicles financed before 28 January 2021 and has now been extended until 31 May 2026.
For more information on the FCA’s approach, please visit the FCA website: www.fca.org.uk/consumers/car-finance-complaints.
What is a Discretionary Commission Arrangement?
Discretionary commission arrangements are agreements between credit brokers and lenders that incentivise brokers to increase how much people were charged for their car loan.
Did Go Car Credit ever use a Discretionary Commission Arrangement?
No, we are pleased to confirm that we have never used a Discretionary Commission Arrangement, meaning our customers have not experienced additional interest, fees or charges as a result of applying for our finance products via a credit broker or car dealership.
What does this mean for me?
You can rest assured that the interest rate agreed was the best available to you at the time you took out your Hire Purchase Agreement with us.
Any complaint received regarding commission arrangements will be reviewed in line with the standard timescales set out under the heading ‘complaints procedure.’
At Go Car Credit, we aim to provide you with the highest standards of service. However, sometimes things can go wrong. When this happens, we encourage our customers to tell us in order for us to look to put things right. This procedure has been created to provide you with clear information on how our complaints process works.
Phone – 01925 696 371
Email – gocarcreditcomplaint@workpro-online.com
Post – Aftersales Department, Go Car Credit Ltd Chadwick House, Floor 1, Birchwood Park, Warrington, WA3 6AE
Online – GO TO THE COMPLAINTS FORM
Please provide us with as much information as possible when making your complaint. This will help us to understand the issue and aid us in resolving it as quickly as possible. Please ensure you include:
• your name and address
• your account number (if known)
• a description of your complaint and how it’s affected you
• when the issue happened
• your contact details and what times are convenient for us to contact you
If your complaint is related to concerns regarding the quality of your vehicle you may need to provide evidence to us to support your concerns. You should send this to us as soon as possible.
Please be aware that should your vehicle have a mechanical fault you should stop driving it immediately. Driving with a known fault can cause additional damage which we may not be able to support you with.
We want to fully understand what’s gone wrong. This is to make sure we get the right person handling your complaint, so they can investigate and fix the situation as soon as possible.
Where there are concerns regarding the quality of your vehicle, we will need to work with your vehicle supplier and/or finance broker. Having as much information as possible on first contact will help us to move your case forward.
Vehicle Quality and Customer Service complaints
Although we have 8 weeks to resolve your complaint, we’ll send you our final response as soon as we’ve completed our investigation. We will ensure to provide regular updates and confirm next steps with you throughout the process.
If we haven’t been able to resolve your complaint in 8 weeks we’ll send you a communication letting you know and what steps you can take. At this stage you can raise your complaint to the Financial Ombudsman Service. Further information is provided under the heading ‘Financial Ombudsman Service – Your Rights.’
Complaints About Motor Finance Commission
The Financial Conduct Authority (FCA) has introduced a motor finance commission redress scheme. Parts of the scheme are currently affected by ongoing legal proceedings.
If a commission payment was made and the complaint is covered by the scheme, we will review the complaint in line with the scheme rules.
The scheme requires a response to be issued within five months of receiving the complaint.
For the latest information about motor finance commission complaints, please visit the FCA’s website:
Complaints outside the motor finance commission redress scheme
If you are unhappy with our final response, or for motor commission complaints our final redress determination, you can refer your complaint to the Financial Ombudsman Service free of charge.
You must normally do this within six months of the date of our final response.
If you do not refer your complaint in time, the Financial Ombudsman Service may only be able to consider it in limited circumstances, for example if the delay was due to exceptional circumstances.
If you refer your motor commission complaints, the Financial Ombudsman Service will consider what it believes the outcome should have been under the FCA’s motor finance redress scheme. It will not consider the complaint using its usual test of what is fair and reasonable in all the circumstances.
Phone – 0300 123 9123 or 0800 023 4567
Email – complaint.info@financial-ombudsman.org.uk
Web – www.financial-ombudsman.org.uk
Post – The Financial Ombudsman Service, Exchange Tower, London, E14 9SR
