Since 6 April 2007, millions of consumers have entered into PCP and HP car finance agreements to purchase vehicles. One such significant period affected by the regulatory changes is when Hendy Group sold Citroen cars on hire purchase or personal contract purchase terms. Although Hendy Group may no longer stock Citroen vehicles, many consumers purchased their Citroen through Hendy Group or similar dealer groups during this timeframe.
Citroen Finance at Hendy Group
When purchasing a new Citroen from Hendy Group, the process often involved selecting a finance agreement such as PCP (Personal Contract Purchase) or HP (Hire Purchase). In these arrangements, Hendy Group acts as the intermediary between the consumer and the lender. The dealer would arrange for the car to be financed by a lending institution that might offer a
discretionary commission arrangement (DCA), which can impact the finance terms.
How Does PCP/HP Work When Buying a Citroen Through Hendy Group?
When you buy a Citroen through Hendy Group using PCP or HP, the dealer plays a crucial role in arranging the financing. However, it is important to understand that Hendy Group is not the lender but merely facilitates the arrangement between you and the actual finance provider. This means that any complaints about your car finance agreement should be directed at the lender identified on your finance documents.
Finding Your Lender
To determine which lender provided the finance for your Citroen when purchased through Hendy Group, carefully review your finance agreement or contract notes. The name of the lending institution will typically be clearly listed in these documents. Common lenders during this period include banks and specialist car finance companies such as Ford Credit (now Volkswagen Financial Services) or BMW Bank UK.
If you believe there are issues with your Citroen finance agreement purchased through Hendy Group, the first step is to contact the lender directly. You can complain about any potential discrepancies in the terms and conditions of your car finance without needing a
claims management company. Many consumers have received compensation ranging from £700 on average (FCA estimate) for disputes arising during the period 6 April 2007 to 1 November 2024, affecting an estimated 14 million agreements worth approximately £8.2 billion in total (FCA estimate).
You do not need a claims management company to initiate or manage your complaint; you can handle it directly with the lender for free.
Sources and references
- FCA: "Car Finance Market Study" figures (FCA)
- Hendy Group website, dealer locations
- Industry standard practices on PCP/HP arrangements