Many consumers who purchased Chrysler vehicles through Perrys Motor Sales on PCP or HP finance may be eligible for compensation due to historical practices in the car finance industry. During the period from 6 April 2007 to 1 November 2024, approximately 14 million agreements (FCA estimate) were affected by discretionary commission arrangements (DCA), with a total of £8.2 billion paid out in compensation (£700 average per claim, FCA estimate).
Chrysler Finance at Perrys Motor Sales
When purchasing a Chrysler vehicle through Perrys Motor Sales or similar dealer groups on PCP or HP finance, the process involves several steps that consumers should be aware of. While Perrys Motor Sales may not currently stock Chrysler vehicles in their North West and Midlands locations, many consumers bought Chryslers there during the relevant period. The car finance agreement is arranged by the dealership but funded and managed by a separate lender. This means that if you have concerns about your finance agreement, it's important to address them with the lender who provided the finance, not Perrys Motor Sales.
Discretionary commission arrangements (DCA) played a significant role in how PCP and HP agreements were structured during this period. Dealers such as Perrys Motor Sales would receive an additional payment from the lenders if consumers took out finance for their Chrysler vehicles. This extra income was intended to incentivise dealers to offer car finance options, but it often resulted in higher interest rates and fees for customers.
Finding Your Lender
To determine which lender provided your car finance agreement when you purchased a Chrysler through Perrys Motor Sales, carefully review the documentation you received at the time of purchase. The finance agreement will contain details about the lender who funded the deal. This document is typically sent to you after signing the contract and includes information such as the lender’s name, address, and contact details.
Another way to find your lender is by contacting Perrys Motor Sales directly with your vehicle registration number or other identifying information. Dealers often maintain records of which lenders they used for each finance agreement. Once you have identified the lender, you can proceed with making a complaint directly to them without involving any claims management companies.
Consumers who bought a Chrysler through Perrys Motor Sales and are concerned about their car finance agreement should first gather all relevant documents and evidence before contacting their lender. This includes the original finance contract, any correspondence with the dealership, and details of the payments made so far.
complaints regarding your car finance agreement should be directed to the lender who provided the financing, not Perrys Motor Sales or any other intermediary. You can complain directly to your lender for free without needing a claims management company. Many lenders have dedicated teams set up to handle such inquiries and will provide you with clear guidance on how to proceed.
Sources and References
- Financial Conduct Authority (FCA) estimates: 14 million agreements, £8.2 billion total compensation, and an average of £700 per claim.
- Information on discretionary commission arrangements (DCA) provided by the FCA and industry reports.