Hendy Group, a prominent dealership in the South and South West regions of the UK, has been known to offer Jeep vehicles on personal contract purchase (PCP) or hire purchase (HP) finance plans. While Hendy Group may no longer stock Jeep models, many consumers have purchased Jeeps through Hendy Group or similar dealer groups during the period from 6 April 2007 to 1 November 2024.
Jeep Finance at Hendy Group
When purchasing a Jeep vehicle through Hendy Group on PCP or HP finance, customers typically enter into an agreement with a lender that provides the funds for the purchase. The dealership acts as a facilitator between the customer and the lender, often arranging a discretionary commission arrangement (DCA) that can influence how much commission the dealer receives based on the terms of the finance agreement. This DCA can affect the overall cost to the consumer, making it important to understand the details before committing to a finance plan.
Finding Your Lender
To ensure you are directed to the correct lender for your Jeep vehicle purchased through Hendy Group, it is crucial to locate your original finance agreement. The document should clearly specify the name and contact information of the lending institution that provided the car finance. This could be a bank, credit union, or another financial service provider rather than Hendy Group itself, which only acts as the intermediary between you and the lender.
If you believe your Jeep finance agreement through Hendy Group is unfair or misleading, it is important to address this directly with the lending institution. You do not need a claims management company; instead, you can file a complaint with your lender at no cost. The lender has a responsibility to review your case and provide a fair resolution based on the terms of your finance agreement.
You can complain directly to your lender for free by contacting them via phone or email using the details provided in your finance documentation. It is recommended to gather evidence such as correspondence with Hendy Group, copies of any finance agreements, and records of payments made before initiating your complaint. This information will help substantiate your case and ensure a thorough review.
Sources and references
- Financial Conduct Authority (FCA): 14 million car finance agreements affected by unfair practices from 6 April 2007 to 1 November 2024.
- FCA: Total estimated losses of £8.2 billion due to unfair car finance practices during the specified period.
- FCA: Average compensation per agreement is approximately £700 (FCA estimate).