Since 2007, many consumers have purchased Abarth vehicles through dealerships such as Perrys Motor Sales. Although Perrys Motor Sales may not currently stock Abarth models, it's important to note that a significant number of buyers acquired their Abarth cars on PCP or HP finance from this dealership group during the period from 6 April 2007 to 1 November 2024.
Abarth Finance at Perrys Motor Sales
When purchasing an Abarth through Perrys Motor Sales, consumers often opt for
Personal Contract Purchase (PCP) or
Hire Purchase (HP) finance agreements. In these arrangements, customers typically pay a deposit and monthly instalments to drive the car, with the option of returning it at the end of the term or paying a final balloon payment. The dealer receives a significant portion of the interest paid by customers through what is known as a
discretionary commission arrangement (DCA). This DCA can significantly increase the cost of car finance for consumers compared to other financing options.
Finding Your Lender
You should identify which lender provided the finance for your Abarth bought at Perrys Motor Sales. The dealer, in this case Perrys Motor Sales, is not the lender; it merely arranges the finance agreement on behalf of a financial institution such as Santander or Volkswagen Financial Services. To find out who your lender is, check your finance agreement documents carefully for details like the lender's name and contact information.
If you suspect that your Abarth car finance agreement might be affected by unfair practices involving discretionary commission arrangements (DCAs), it’s important to know how to proceed. Instead of turning to claims management companies, consumers should
complain directly to their lender. You can do this without any cost or obligation-simply contact the financial institution named in your finance agreement and explain your concerns. It is a common misconception that you need a lawyer or a claims company; many people successfully resolve issues by speaking directly with their lender.
You do not need a claims management company to handle your complaint, as they often charge high fees for services that you can perform yourself. the Financial Conduct Authority (FCA) estimates that around 14 million car finance agreements were affected during this period, costing consumers an average of £700 each and totalling £8.2 billion in excess charges.
Sources and references
- "Financial Conduct Authority estimates on PCP/HP car finance."