Cambria Automobiles, a leading dealership in the South East and Midlands regions of the UK, stocks Jaguar vehicles among its extensive range. If you purchased a Jaguar through Cambria Automobiles between 6 April 2007 and 1 November 2024, your finance agreement might be affected by industry practices such as discretionary commission arrangements (DCAs). These arrangements could have resulted in inflated interest rates, impacting thousands of consumers who financed their vehicles using personal contract purchase (PCP) or hire purchase (HP).
Jaguar Finance at Cambria Automobiles
When buying a Jaguar from Cambria Automobiles, the dealership often arranges financing through car finance agreements such as PCP or HP. These agreements typically involve a discretionary
commission arrangement, where dealerships receive additional compensation based on the interest rate applied to your loan. This practice could have led to higher overall costs for consumers who financed their vehicles during this period.
Cambria Automobiles operates under these industry standards when arranging financing for Jaguar purchases, but it is important to note that they are not the lender. The finance agreement you signed would have been provided by a financial institution such as Barclays, Santander, or another major lender. Understanding which lender was involved in your car finance agreement is crucial for resolving any issues related to inflated interest rates.
Finding Your Lender
To identify the lender who provided financing for your Jaguar purchased at Cambria Automobiles, you need to review your finance agreement documents carefully. These documents should include details such as the lender’s name and contact information. If you cannot find this information in your paperwork or if it is unclear, you can reach out to Cambria Automobiles directly for assistance.
If you believe that your Jaguar car finance agreement was affected by a discretionary commission arrangement (DCA) and resulted in inflated interest rates, you have the right to
complain directly to your lender. You do not need a
claims management company; instead, you can contact the lender using the information found in your finance agreement documents or obtained from Cambria Automobiles.
The Financial Conduct Authority (FCA) estimates that approximately 14 million agreements may be affected by these practices, totalling £8.2 billion in outstanding balances, with an average refund of £700 per consumer (FCA estimate). By contacting the lender directly, you can initiate a complaint process and potentially receive a fair resolution without involving third-party claims management companies.
You can complain directly to your lender for free and resolve any issues related to car finance agreements. Remember that Cambria Automobiles is not responsible for handling complaints about the finance agreement; this responsibility lies with the lending institution.
Sources and References
- Financial Conduct Authority (FCA): “Discretionary Commission Arrangements in Car Finance”
- FCA estimates: 14 million affected agreements, £8.2 billion total balance, average refund of £700 per consumer