Hendy Group, a family-owned car dealer group based in Hampshire, has been involved in the FCA’s investigation into discretionary commission arrangements (DCAs) in car finance. As one of the largest dealerships in the South and South West of England, Hendy Group stocks popular brands such as Ford, Kia, Honda, Nissan, Renault, Mazda, MG, Suzuki, and Fiat. With over 30 dealerships across these regions, customers often rely on Hendy Group for their car finance needs. However, recent FCA investigations have shed light on potential mis-selling issues within the car finance industry that could affect consumers who obtained PCP or HP agreements through Hendy Group.
Who is Hendy Group?
Hendy Group is a well-established car dealer group with over 30 dealerships spanning across the South and South West of England. The company stocks a wide range of popular brands including Ford, Kia, Honda, Nissan, Renault, Mazda, MG, Suzuki, and Fiat. As a family-owned business, Hendy Group has built its reputation on providing quality cars and financial services to customers in the region.
How Hendy Group finance agreements work
When you purchase a car from Hendy Group, they arrange your finance agreement through various lenders such as
Black Horse,
Close Brothers,
MotoNovo, and
Santander Consumer Finance. These lenders provide the actual financing based on the terms of the PCP or HP agreement, while Hendy Group receives commission for facilitating these arrangements.
The FCA investigation into discretionary commission arrangements
The Financial Conduct Authority (FCA) has been investigating the use of DCAs in car finance from 6 April 2007 to 1 November 2024. This period covers approximately 14 million agreements, with a total value of £8.2 billion (FCA estimate). The investigation aims to uncover potential mis-selling practices where dealers like Hendy Group may have received excessive commissions at the expense of customers.
How to check if your Hendy Group finance agreement is affected
To determine whether your car finance agreement obtained through Hendy Group is part of the FCA investigation, you should review your paperwork carefully. Look for details such as the lender’s name, interest rate, and dates of the agreement. If any discrepancies or concerns arise, it's advisable to consult a financial advisor or seek legal advice.
If you suspect that your Hendy Group finance agreement was mis-sold, the first step is to identify the actual lender who provided the financing. Once identified, you can directly contact them to raise your concerns. You do not need to use a
claims management company; complaining directly to the lender is free and often more efficient.
After submitting your complaint, if it remains unresolved after eight weeks, you have the right to escalate it to the Financial Ombudsman Service (FOS). The FOS can provide an impartial review of your case and help resolve any disputes.
Sources and references
- Hendy Group: https://www.hendy.co.uk
- Financial Conduct Authority (FCA): Discretionary commission arrangements investigation, 6 April 2007 to 1 November 2024.