Inchcape is a well-known dealership group that once sold Aston Martin vehicles across the UK. While Inchcape may not currently stock Aston Martin, many consumers purchased Aston Martin vehicles through Inchcape or similar dealer groups on Personal Contract Purchase (PCP) or Hire Purchase (HP) finance arrangements from 6 April 2007 to 1 November 2024.
Aston Martin Finance at Inchcape
When you purchase an Aston Martin through Inchcape, the dealership typically arranges your car finance through a third-party lender rather than financing it themselves. This arrangement involves a Personal Contract Purchase (PCP) or Hire Purchase (HP) agreement. In these cases, dealers like Inchcape often earn additional income from discretionary commission arrangements (DCAs), which are payments made by lenders to the dealer for facilitating the loan.
Discretionary commission arrangements play a significant role in car finance deals because they can influence the overall cost of financing an Aston Martin through Inchcape or any other dealership. Understanding these commissions and how they work is essential when considering whether you have been overcharged on your PCP or HP agreement.
Finding Your Lender
To determine which lender provided the finance for your Aston Martin purchased from Inchcape, carefully review your finance agreement documents. The name of the lender will be clearly listed in your contract, along with other important details such as interest rates and monthly payments. You should identify this information accurately since complaints should always go directly to the lender who issued the loan.
If you're unsure about how to find the relevant information or need assistance interpreting your finance agreement, Inchcape may provide some guidance; however, they are not responsible for handling complaints regarding car finance arrangements. Your primary point of contact is the actual lender named in your contract.
Complaining about a potential issue with your Aston Martin car finance should be done directly with the lender who provided the agreement, not Inchcape or any other intermediary. You do not need a claims management company to help you with this process. The lenders are required by law to handle complaints fairly and efficiently.
To start the complaint process, contact your lender in writing via email or post. Clearly outline why you believe there is an issue with your finance agreement and provide any relevant documentation that supports your case. Remember, it's important to be thorough and precise when submitting a complaint.
After lodging your complaint, keep track of all communications from the lender and maintain copies of letters and emails exchanged during this period. The lender must respond within a specific timeframe as outlined by financial regulations.
You can complain directly to your lender for free without needing any third-party assistance. This process allows you to address potential issues directly with those responsible for administering your finance agreement, ensuring that all relevant details are accurately conveyed from the outset.
Sources and references
- Financial Conduct Authority (FCA). "Personal Contract Purchase (PCP) agreements affected: 14 million (estimate)." [Accessed YYYY-MM-DD]
- Financial Conduct Authority (FCA). "Total amount overcharged to consumers through PCP agreements: £8.2 billion (estimate)." [Accessed YYYY-MM-DD]
- Financial Conduct Authority (FCA). "Average refund per consumer in car finance disputes: £700 (estimate)." [Accessed YYYY-MM-DD]