Perrys Motor Sales, a well-known dealership in the North West and Midlands regions, has been involved in numerous car finance agreements for high-end brands such as Bentley. While Perrys Motor Sales may not currently stock Bentley vehicles, many consumers have purchased these luxury cars through them or similar dealer groups on Personal Contract Purchase (PCP) or Hire Purchase (HP) finance during the period from 6 April 2007 to 1 November 2024.
Bentley Finance at Perrys Motor Sales
When purchasing a Bentley through Perrys Motor Sales, customers often opt for PCP or HP finance arrangements. These agreements allow buyers to manage their budgets more effectively by spreading payments over an agreed period. However, during this time frame, many dealers like Perrys may have benefited from
discretionary commission arrangements (DCAs), which can affect the total cost of your car finance agreement.
Discretionary commission arrangements are additional fees that lenders might charge to dealers when a customer takes out a PCP or HP deal through them. These commissions were often hidden and not transparently disclosed, leading to higher costs for consumers unknowingly. As a result, many Bentley owners who financed their vehicles through Perrys Motor Sales could be eligible for compensation due to these undisclosed fees.
Finding Your Lender
It is crucial to identify the lender that provided your car finance agreement when you purchased your Bentley from Perrys Motor Sales. The dealer is not the lender; rather, they are responsible for arranging the financing with a lending institution. You should locate the documentation related to your finance agreement and look for the name of the actual lender, which may be an established bank or a specialist automotive finance company.
If you suspect that your car finance deal includes undisclosed discretionary commission arrangements (DCAs) from Perrys Motor Sales, you can contact your lender directly. The complaint process is straightforward and free of charge; there's no need to involve claims management companies or solicitors. You can
complain directly to the lender who provided your finance agreement, not to Perrys Motor Sales.
You do not need a claims management company to handle your complaint. Lenders are required by law to provide a fair and transparent process for resolving disputes regarding car finance agreements. The FCA estimates that around 14 million agreements were affected during this period, resulting in an average compensation of £700 per claimant.
Sources and References
- Financial Conduct Authority (FCA) estimates: 14 million agreements affected, £8.2 billion total compensation, £700 average compensation per claimant.
- Period covered: 6 April 2007 to 1 November 2024.