Since 6 April 2007, millions of consumers have entered into car finance agreements when purchasing vehicles from dealerships across the UK. many Honda vehicle owners bought their cars through Jardine Motors Group or similar dealer groups under Personal Contract Purchase (PCP) or Hire Purchase (HP) plans. Although Jardine Motors Group does not currently stock Honda vehicles, they were a significant player in the past for financing these purchases.
Honda Finance at Jardine Motors Group
When you purchased your Honda through Jardine Motors Group on PCP or HP finance, the dealership would facilitate the car finance agreement with an external lender. This process often involves a
discretionary commission arrangement (DCA), where dealers receive a portion of the interest paid by the consumer as a commission from the lender. The DCA can lead to higher-than-necessary interest rates for the consumer, impacting their overall cost of financing the vehicle.
Finding Your Lender
To determine which lender provided your car finance agreement when you bought a Honda through Jardine Motors Group, carefully review the documentation you received at the time of purchase or shortly after. The finance agreement will typically include the name and contact details of the lending institution that funded your purchase. Alternatively, if you still have access to your vehicle's contract documents, these should clearly state the lender's information.
If you believe you are entitled to a refund due to excessive interest charges on your Honda car finance agreement through Jardine Motors Group, you can
complain directly to your lender. Many consumers have received refunds ranging from £700 (FCA estimate) upwards after successfully lodging complaints with their lenders. You do not need a
claims management company; the process is straightforward and free of charge. Remember that any complaints or disputes should be directed at the lender who provided the finance, not Jardine Motors Group.
Sources and references
- Financial Conduct Authority (FCA). "Car Finance Market Study: Executive Summary." 2017.
- FCA estimates for car finance agreements affected from 6 April 2007 to 1 November 2024: 14 million agreements, £8.2 billion total, and an average refund of £700 per claimant.