Hendy Group, a dealership in the South and South West of the UK, stocks Ford vehicles and offers car finance options such as Personal Contract Purchase (PCP) and Hire Purchase (HP). However, consumers who purchased a Ford through Hendy Group may be eligible for compensation if their finance agreement was affected by an issue with [discretionary commission](https://mlj.org.uk/glossary/discretionary-commission-arrangement) arrangements. Since 6 April 2007 to 1 November 2024, around 14 million car finance agreements have been impacted, totalling £8.2 billion in value, with the average claim amounting to £700 (FCA estimate).
Ford Finance at Hendy Group
When purchasing a Ford through Hendy Group, customers often opt for PCP or HP financing plans offered by third-party lenders. These finance agreements typically involve discretionary commission arrangements (DCAs), where dealers receive a portion of the interest income generated from customer loans as compensation. Under these arrangements, dealers like Hendy Group are incentivised to sell car finance products that benefit both themselves and their customers. However, issues can arise if the terms of these agreements were unfair or misleading.
Finding Your Lender
If you bought a Ford through Hendy Group and suspect your finance agreement may have been affected by an issue with DCAs, it is crucial to identify which lender provided the financing. The name of the lender will be clearly stated on your car finance contract or agreement letter. You can also find this information in any correspondence from the lender regarding your account. It’s important to note that while Hendy Group facilitated the sale and arranged the finance, they are not the lender; therefore, any complaints about the terms of your finance agreement should go directly to the lender.
Consumers who purchased a Ford through Hendy Group and believe their car finance agreement was affected by issues with DCAs can [complain directly](https://mlj.org.uk/guides/how-to-complain-to-your-lender) to their lender without involving a claims management company. You do not need a solicitor or any third-party assistance; you are entitled to lodge your complaint free of charge. The lender is legally obligated to review your case and respond within a reasonable timeframe, typically 30 days for initial correspondence.
Sources and References
- Financial Conduct Authority (FCA) estimates: "14 million agreements affected," "£8.2 billion total value impacted," "average claim amount £700" (FCA estimate).