Arnold Clark, a major car retailer in the UK and Scotland, stocks Dacia vehicles, offering them under various financing options including Personal Contract Purchase (PCP) and Hire Purchase (HP). The FCA estimates that approximately 14 million agreements were affected by potential mis-selling issues from 6 April 2007 to 1 November 2024, with a total amount of £8.2 billion involved, averaging around £700 per claim.
Dacia Finance at Arnold Clark
When purchasing a Dacia through Arnold Clark, you may opt for financing options such as PCP or HP. These agreements often include
Discretionary Commission Arrangements (DCAs), where the dealer receives an additional payment from the lender based on your finance agreement. DCAs can influence how much you pay in interest and other fees, potentially leading to higher costs than necessary. It's important for consumers to understand that while Arnold Clark facilitates these deals, they are not the actual lenders providing the financing.
Finding Your Lender
To determine which lender provided your car finance when buying a Dacia from Arnold Clark, carefully review your finance agreement documents. The name of the lender will be clearly stated in these documents. This information is crucial because any complaints about your finance deal should be directed to the lender, not Arnold Clark.
If you believe that there were issues with your Dacia car finance through Arnold Clark, it’s important to address them directly with the lender who provided the financing. You do not need a
claims management company; you can complain for free by contacting the lender directly. Here are some steps to follow:
- Review Your Agreement: Ensure you have all relevant documents and understand your rights.
- Contact the Lender: Reach out to the lender using the contact information provided in your finance agreement.
- Provide Evidence: Gather any documentation or evidence that supports your complaint, such as emails, letters, and notes from discussions with Arnold Clark staff.
- Follow Up: If you do not receive a response within 8 weeks, escalate your complaint to the Financial Ombudsman Service.
You can complain directly to your lender for free, ensuring no unnecessary costs or third-party involvement.
Sources and References
- FCA: "14 million agreements (FCA estimate), £8.2 billion total (FCA estimate), £700 average (FCA estimate)" from 6 April 2007 to 1 November 2024.
- Arnold Clark operates in Scotland and UK-wide, offering Dacia vehicles through various finance options including PCP and HP.