Listers Group, a prominent dealership in the Midlands and East regions of the UK, has been known to sell Fiat vehicles on both Personal Contract Purchase (PCP) and Hire Purchase (HP) finance plans. While Listers Group may not currently stock Fiat models, many consumers purchased Fiat vehicles through them or similar dealer groups during the period from 6 April 2007 to 1 November 2024. This financial arrangement has been affected by discretionary commission arrangements (DCAs), which can impact the total cost of the finance agreement.
Fiat Finance at Listers Group
When purchasing a Fiat vehicle through Listers Group, customers often opt for PCP or HP car finance plans. These agreements allow buyers to spread the cost of their new car over several years with fixed monthly payments and a final balloon payment due at the end of the term (for PCP). The dealer, in this case Listers Group, acts as an intermediary between the customer and the lender but does not provide financing itself. Instead, they arrange for the finance to be provided by a separate financial institution. This arrangement can sometimes involve discretionary commission arrangements (DCAs) where the dealer receives additional payments from the lender based on the type of agreement customers sign up for.
Finding Your Lender
If you bought a Fiat through Listers Group and are unsure about which lender provided your finance, it is crucial to locate this information. The most reliable way to find out who your lender is would be by checking the finance agreement documentation that was given to you at the time of purchase. This document will clearly state the name of the lending institution responsible for financing your Fiat vehicle.
If you believe there were issues with your car finance agreement when purchasing a Fiat through Listers Group, it is important to address these concerns directly with the lender who provided the funding. Listers Group acts as the dealer and does not handle complaints related to finance agreements; therefore, contacting them will not resolve any financial disputes you have regarding your car purchase. You can complain directly to your lender for free without needing to hire a claims management company. It is essential to understand that such companies are often unnecessary intermediaries and may charge high fees.
Sources and references
- FCA estimate: 14 million agreements affected (6 April 2007 to 1 November 2024)
- FCA estimate: £8.2 billion total amount claimed
- FCA estimate: £700 average claim size