6 April 2007 to 1 November 2024 saw approximately 14 million car finance agreements affected, with an estimated total value of £8.2 billion and average refunds of around £700 per agreement (FCA estimate). Many consumers purchased Audi vehicles through dealerships like Hendy Group or similar groups during this period, often on Personal Contract Purchase (PCP) or Hire Purchase (HP) finance agreements.
Audi Finance at Hendy Group
When buying an Audi from Hendy Group, customers often enter into a car finance agreement to make the vehicle more affordable. This process usually involves either a PCP or HP contract facilitated by Hendy Group on behalf of various lenders. A key aspect of these agreements is the
discretionary commission arrangement (DCA), which allows dealers like Hendy Group to receive commissions from lenders based on their recommendation of specific financing options. Although Hendy Group may not currently stock Audi vehicles, many consumers have purchased Audis through Hendy Group in the past and are now reviewing their finance agreements for potential issues.
Finding Your Lender
To ensure you address your complaint effectively, it is crucial to identify the lender that provided the car finance agreement when purchasing your Audi from Hendy Group. The name of the lender should be clearly stated on the finance agreement documentation or in correspondence from the dealer at the time of purchase. If you cannot locate this information easily, contact Hendy Group’s customer service department and request a copy of the original finance documents to confirm the lender’s identity.
If you suspect that your Audi car finance agreement with Hendy Group falls under the category of agreements affected by FCA rules, it is important to contact the lender directly rather than Hendy Group. You can complain about any issues related to your PCP or HP agreement free of charge and without involving a
claims management company. It is essential to gather all relevant documentation such as finance agreement details and correspondence with the dealer before initiating your complaint. Remember, you do not need a claims management company to handle this process; you can manage it independently.
Sources and references
- FCA estimates: 14 million agreements affected, £8.2 billion total, £700 average refund (FCA estimate)
- Hendy Group operates in South / South West regions