Listers Group is a well-known dealership chain that stocks Jaguar vehicles across the Midlands and East regions. When purchasing a Jaguar through Listers Group, customers often opt for Personal Contract Purchase (PCP) or Hire Purchase (HP) agreements to finance their new car. These arrangements can involve [discretionary commission](https://mlj.org.uk/glossary/discretionary-commission-arrangement) arrangements (DCAs), which were part of a larger regulatory issue affecting millions of car finance agreements in the UK.
Jaguar Finance at Listers Group
When you decide to buy a Jaguar from Listers Group, you may choose between Personal Contract Purchase (PCP) or Hire Purchase (HP) options. These financing methods are commonly used by dealerships like Listers Group to make it easier for customers to acquire new vehicles. However, the finance agreement is provided by an external lender rather than Listers Group itself. It's important to understand that while Listers Group facilitates the purchase and arranges the finance, the actual lender will be a separate financial institution.
Discretionary commission arrangements (DCAs) were common in car finance deals during the period from 6 April 2007 to 1 November 2024. A DCA allows lenders to pay dealerships an extra fee based on the performance of the finance agreement, potentially leading to higher interest rates for consumers without their knowledge.
Finding Your Lender
To ensure you know who your lender is when purchasing a Jaguar from Listers Group, you should review your finance agreement. This document will typically be provided by the lender and will include details such as the lender’s name, the terms of the agreement, and any additional fees or commissions that may apply. If you're unsure which lender financed your purchase, you can contact Listers Group for assistance in identifying the correct lender.
If you suspect that a discretionary commission arrangement (DCA) might have affected your car finance agreement when buying a Jaguar from Listers Group, you should first approach the lender directly. It’s important to note that any complaints or disputes related to your finance agreement must be addressed with the lender and not with Listers Group, as they are separate entities.
You can complain to your lender for free without needing to engage a claims management company. The lender is required by law to provide you with a process for resolving issues related to your car finance agreement. This means that seeking help from third-party companies is unnecessary and may come at an additional cost.
Sources and References
- Financial Conduct Authority (FCA): "14 million agreements affected" (FCA estimate)
- Financial Conduct Authority (FCA): "£8.2 billion total overpayment" (FCA estimate)
- Financial Conduct Authority (FCA): "£700 average per agreement" (FCA estimate)