Chrysler car finance claims for vehicles purchased through Arnold Clark have been a focal point for many UK consumers. While Arnold Clark may not currently stock Chrysler, many consumers purchased Chrysler vehicles through Arnold Clark or similar dealer groups on PCP (Personal Contract Purchase) or HP (Hire Purchase) finance during the period from 6 April 2007 to 1 November 2024. The Financial Conduct Authority (FCA) estimates that around 14 million car finance agreements were affected, with a total of £8.2 billion in claims and an average repayment of £700.
Chrysler Finance at Arnold Clark
When purchasing a Chrysler vehicle through Arnold Clark on PCP or HP finance, the dealership acts as the intermediary between the consumer and the lender. However, Arnold Clark is the dealer and not the lender. The actual lender providing the car finance agreement will be identified in your documentation provided at the time of purchase. A key aspect of this process involves
discretionary commission arrangements (DCAs), which allowed dealers to earn additional commissions based on customer repayments. This arrangement was prevalent during the period in question, leading to potential overcharging and unfair practices for consumers.
Finding Your Lender
To identify which lender provided your car finance agreement when you bought a Chrysler through Arnold Clark, you should review the documentation you received at the time of purchase. The finance agreement or loan agreement will clearly state the name of the lender providing the funds. This could be one of many financial institutions that partnered with Arnold Clark to offer financing options for Chrysler vehicles. If you are unsure which lender financed your car, contact Arnold Clark directly and request a copy of your original finance documents.
If you believe you have been affected by unfair practices related to your Chrysler car finance agreement through Arnold Clark, the first step is to
complain directly to the lender identified in your finance documentation. You do not need a
claims management company; you can handle this process yourself without any cost. The FCA estimates that £700 could be repaid to each affected consumer on average. By contacting the lender directly, you can address issues such as overcharging or unfair practices related to discretionary commission arrangements (DCAs).
Sources and references
- Financial Conduct Authority (FCA) estimate of 14 million agreements affected: https://www.fca.org.uk/
- FCA estimate of £8.2 billion total claims: https://www.fca.org.uk/
- FCA average repayment estimate of £700: https://www.fca.org.uk/