Jaguar owners who purchased their vehicles through Hendy Group may be eligible for compensation if they entered into a Personal Contract Purchase (PCP) or Hire Purchase (HP) agreement between 6 April 2007 and 1 November 2024. During this period, many consumers bought Jaguar cars from Hendy Group or similar dealerships on car finance schemes that included discretionary commission arrangements (DCAs).
Jaguar Finance at Hendy Group
When purchasing a Jaguar through Hendy Group on PCP or HP, the dealership would typically arrange for the customer to enter into a financing agreement with a lender. This process involves the dealer acting as an intermediary and potentially earning additional revenue from the finance arrangement through DCAs. These arrangements allowed dealers like Hendy Group to receive extra payments from lenders based on the type of car finance contract they arranged, which may have led to overcharging customers.
Finding Your Lender
Consumers who bought a Jaguar at Hendy Group should check their finance agreement for the name of the lender. Hendy Group is not the lender; it acts as an intermediary between the customer and the actual lender. This means any complaints or disputes regarding your car finance should be directed to the lender, not Hendy Group.
If you suspect overcharging due to a DCA in your Jaguar finance agreement, you can complain directly to your lender without needing a claims management company. The FCA estimates that 14 million agreements have been affected during this period, resulting in an average compensation of £700 per customer and a total of £8.2 billion across all cases.
You do not need a claims management company to lodge a complaint with the lender. Lenders are required by law to review these complaints free of charge, providing you with a fair assessment without any upfront costs or fees.
Sources and References
- Financial Conduct Authority (FCA) estimates: 14 million agreements affected, £8.2 billion total compensation, £700 average per customer.
- Hendy Group operates in the South / South West regions of the UK but may not currently stock Jaguar vehicles.
- The period for eligibility is from 6 April 2007 to 1 November 2024.