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Chesterfield, a town with a population of 104,900 (ONS Census 2021), has been significantly affected by motor finance mis-selling. An estimated 9,913 drivers in Chesterfield have been impacted according to figures calculated using ONS Census 2021 data and FCA estimates.
How Motor Finance Mis-Selling Affected Chesterfield
Local dealerships in Chesterfield such as Inchape Chesterfield, Pendragon Chesterfield, Marshall Motor Group Chesterfield, and Sytner Chesterfield were among those that sold
Personal Contract Purchase (PCP) and
Hire Purchase (HP) finance agreements. These agreements often included
discretionary commission arrangements that could lead to higher costs for consumers without clear communication about these additional fees.
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). These lenders were involved in providing finance products to customers through local dealerships, which may have included mis-sold agreements.
The FCA Motor Finance Investigation
The Financial Conduct Authority (FCA) conducted a full investigation into motor finance practices from 6 April 2007 to 1 November 2024. This period saw 12.1 million eligible agreements (FCA, March 2026) by these issues, with an estimated £7.5 billion in total mis-sold funds and an FCA-estimated scheme average of £829 per eligible agreement per agreement (FCA estimate). The investigation uncovered that discretionary commission arrangements were not always transparently communicated to consumers, leading to potential overcharging.
How Chesterfield Residents Can Check Their Finance Agreements
Chesterfield residents who suspect they may have been affected by motor finance mis-selling should review their finance agreements carefully. Key dates to consider are from 6 April 2007 to 1 November 2024, as these fall within the FCA investigation period.
Residents should gather all relevant documents such as loan agreements, payment schedules, and any correspondence with lenders or dealerships. If they find discrepancies or additional charges that were not clearly explained at the time of purchase, it is important to document this information for a complaint.
Chesterfield residents can complain directly to their lender for free without needing to involve a
[claims management company](https://mlj.org.uk/guides/complaints-about-claims-management-companies). 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 all have dedicated teams to handle complaints.
If your initial complaint does not resolve the issue, you can escalate it to the
Financial Ombudsman Service (
FOS) for free. The FOS is an independent service that provides fair and impartial resolutions for financial disputes between consumers and businesses.
Sources and References
- Financial Conduct Authority (FCA)
- Office of National Statistics Census 2021
- Financial Ombudsman Service (FOS)
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.