Motor Finance Claims Coventry - FCA Investigation

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Motor Finance Claims Coventry - FCA Investigation

Last updated: 27 February 2026

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Coventry, a city with a population of 345,300 (ONS Census 2021), is home to an estimated 32,631 drivers who may have been affected by motor finance mis-selling from 6 April 2007 to 1 November 2024. This figure is calculated using ONS Census 2021 population data and FCA estimates.

How Motor Finance Mis-Selling Affected Coventry

Motor finance agreements, such as Personal Contract Purchase (PCP) and Hire Purchase (HP), were widely sold through local dealerships in Coventry. Dealership groups like Sytner Coventry, Pendragon Coventry, Listers Group Coventry, and John Clark Motor Group Coventry facilitated these sales. Major lenders operating in the area include Black Horse (Lloyds Banking Group), MotoNovo Finance, Close Brothers Motor Finance, Santander Consumer Finance, Barclays Partner Finance, and [Alphera](https://mlj.org.uk/lenders/alphera-financial-services) Financial Services (BMW).

The FCA Motor Finance Investigation

The Financial Conduct Authority (FCA) conducted a thorough investigation into motor finance mis-selling. It discovered that lenders offered discretionary commission arrangements to dealerships, which incentivised the sale of more expensive deals. This led to 12.1 million eligible agreements (FCA, March 2026) being affected across the UK during the period from 6 April 2007 to 1 November 2024 (FCA estimate). The total mis-selling amounted to £7.5 billion (FCA, March 2026).

How Coventry Residents Can Check Their Finance Agreements

Coventry residents who suspect they may have been affected can review their finance agreements for specific indicators of mis-selling. Key dates to check are from 6 April 2007 to 1 November 2024, as these fall within the FCA investigation timeframe. Gather documents such as contracts, payment schedules, and any correspondence with your lender or dealership. If you notice discrepancies or unusually high costs, it may indicate a potential case of mis-selling.

How to Complain Directly to Your Lender for Free

Coventry residents can complain directly to their lenders without needing the assistance of a claims management company. Major lenders such as Black Horse (Lloyds Banking Group), MotoNovo Finance, Close Brothers Motor Finance, Santander Consumer Finance, Barclays Partner Finance, and Alphera Financial Services (BMW) all have dedicated customer service teams who handle complaints free of charge. "You can complain directly to your lender for free" and "You do not need a claims management company." If your complaint is not resolved by the lender or you feel it has been handled unfairly, you can escalate the matter to the Financial Ombudsman Service (FOS) at no cost. The FOS provides an independent review of financial disputes.

Sources and References

Office for National Statistics (ONS) Census 2021
Financial Conduct Authority (FCA), 2024
Car Finance Compensation in Your Area

The FCA confirmed that 12.1 million motor finance agreements across the UK qualify for compensation. The FCA-estimated scheme average of £829 per eligible agreement per agreement, totalling £7.5 billion in redress. If you took out PCP or HP car finance between 6 April 2007 and 1 November 2024, your agreement may be eligible regardless of where you live in the UK.

The final deadline to complain is 31 August 2027. You can complain to your lender directly for free. You do not need a claims management company.

Frequently Asked Questions

How many drivers in Coventry may have been affected by motor finance mis-selling?

Based on population data from the ONS Census 2021 and FCA estimates, an estimated 32,631 drivers in Coventry could be impacted by motor finance mis-selling (calculated using ONS Census 2021 population data and FCA estimates).

What should I do if I suspect my motor finance agreement was mis-sold to me in Coventry?

If you believe your motor finance agreement may have been mis-sold, you can complain directly to the lender for free. This is a straightforward process that allows you to address any concerns without involving external parties.

What are some common signs of motor finance mis-selling in Coventry?

Common indicators include high-pressure sales tactics, lack of transparency about interest rates and fees, or being sold a finance package when cash payment was more affordable. It's important to review your contract carefully if you suspect any issues.

How prevalent is motor finance mis-selling across the UK, including Coventry?

Motor finance mis-selling has been a significant issue in the UK since April 2007. The FCA estimates that 12.1 million eligible agreements (FCA, March 2026) have been affected (FCA estimate), and drivers in Coventry are not exempt from this problem.

Important: MLJ.org.uk is an independent information resource. We are not a claims management company, solicitor, law firm, or financial adviser. We do not process claims, take fees, or provide advice. Where the law gives you a right to complain or claim directly (to a lender, council, FOS, court, or regulator), you can do so without paying a third party. MLJ.org.uk is operated by Copious Ltd, registered in England and Wales, company number 11437826.