Jardine Motors Group, a well-known automotive dealership group in the UK, has been involved with Infiniti vehicles for many years. Despite Jardine Motors Group no longer stocking Infiniti models, numerous consumers have purchased Infiniti cars through this and similar dealer groups on Personal Contract Purchase (PCP) or Hire Purchase (HP) finance agreements.
Infiniti Finance at Jardine Motors Group
When purchasing an Infiniti vehicle from Jardine Motors Group using PCP or HP financing, the dealership typically arranges the finance agreement on behalf of the customer. However, you should understand that while the dealer sets up the deal, they are not the lender providing the funds for your car purchase. Instead, the actual lender is a separate entity and will be listed in your finance documents.
One critical aspect to consider when entering into an Infiniti finance agreement through Jardine Motors Group is the use of discretionary commission arrangements (DCAs). These arrangements allow dealerships like Jardine Motors Group to receive additional payments from lenders based on customer referrals. The FCA has identified that these DCAs can lead to consumers being charged more in interest and fees than necessary, affecting up to 14 million agreements since 6 April 2007 (FCA estimate). This financial discrepancy resulted in an estimated £8.2 billion total overcharge, with the average consumer paying around £700 extra (FCA estimate).
Finding Your Lender
When you bought your Infiniti from Jardine Motors Group, the dealer set up a finance agreement on your behalf, but you should know that the lender providing the funds is different. To find out who your actual lender is, carefully review your finance agreement documents. This information should be clearly stated in the contract details provided by Jardine Motors Group upon completing your purchase.
If you believe you have been affected by a discretionary commission arrangement and are owed a refund or compensation from your car finance deal, you can complain directly to your lender. You do not need to use the services of a claims management company; instead, you can contact your lender directly at no cost. They will be responsible for handling your complaint according to the regulatory framework set by the FCA.
You can also seek guidance from Motorists Legal Justice (MLJ) for support in understanding your rights and dealing with the complaint process effectively. Remember, it is within your right to request a fair resolution without involving third-party companies.
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