When purchasing a new Citroen through Perrys Motor Sales, consumers may be interested in understanding the intricacies of car finance agreements, particularly Personal Contract Purchase (PCP) and Hire Purchase (HP). Both Perrys Motor Sales and Citroen have been at the centre of discussions regarding how these agreements were structured and financed.
Citroen Finance at Perrys Motor Sales
When buying a new Citroen from Perrys Motor Sales in North West or Midlands, customers often opt for PCP or HP to manage their budget more effectively. These financing options allow buyers to make monthly payments while retaining the flexibility to return the car after the agreement period ends, typically with an optional final payment and balloon payment. However, these agreements have been scrutinised due to a controversial
discretionary commission arrangement (DCA), where dealers like Perrys Motor Sales receive additional commissions based on the finance deal terms agreed upon by consumers.
Finding Your Lender
It is crucial for customers who purchased a Citroen through Perrys Motor Sales to identify which lender provided their car finance agreement. This information can usually be found within the finance documentation received at the time of purchase or in follow-up communications from the dealer. The lender's name and contact details should also be listed on any monthly payment statements related to the car finance agreement.
If you believe your Citroen car finance agreement with Perrys Motor Sales may have been affected by unfair discretionary commission arrangements, it is important to know where to direct your complaint. While Perrys Motor Sales facilitated the purchase and arranged the finance deal, the actual lender who provided the finance agreement should be contacted directly for any issues or complaints. You can complain to your lender without needing a
claims management company; all you need to do is gather relevant documentation and submit your concerns in writing or via their online complaint portal.
You do not need a claims management company to handle your car finance claim, as these companies often charge upfront fees that are unnecessary if you take the matter directly to your lender. The Financial Conduct Authority (FCA) estimates that around 14 million agreements were affected by DCAs between 6 April 2007 and 1 November 2024, with a total value of £8.2 billion. This means an average claim could be worth approximately £700 (FCA estimate).
Sources and references
- Financial Conduct Authority (FCA) estimates on affected agreements.
- Perrys Motor Sales dealership locations in North West and Midlands.
- Discretionary commission arrangements (DCAs) as per FCA guidelines.