Perrys Motor Sales, a prominent dealer group in the North West and Midlands regions of the UK, has historically offered Genesis vehicles to consumers seeking premium car finance options. While Perrys Motor Sales may not currently stock Genesis models, many consumers purchased these cars on Personal Contract Purchase (PCP) or Hire Purchase (HP) agreements through Perrys Motor Sales during the period from 6 April 2007 to 1 November 2024.
Genesis Finance at Perrys Motor Sales
When purchasing a Genesis vehicle through Perrys Motor Sales, customers often opt for PCP or HP finance arrangements. These plans are commonly structured with
discretionary commission arrangements (DCAs), which are financial agreements between the lender and the dealership that can impact the overall cost of the car to the customer. DCAs are not transparently disclosed to buyers at the point of sale, leading to potential overcharges.
Finding Your Lender
To determine who provided the finance for your Genesis vehicle purchased through Perrys Motor Sales, you need to check the finance agreement documents you received upon purchase. These documents will contain the name and contact information of the lender. If you no longer have these documents, you should reach out to Perrys Motor Sales directly or search any emails from the time of purchase that might include your finance provider's details.
If you suspect overcharges related to a discretionary
commission arrangement (DCA) in your Genesis car finance agreement through Perrys Motor Sales, it is crucial to address this issue directly with the lender. As a consumer, you have the right to complain to the lender free of charge without needing a
claims management company. You can do so by writing an email or letter detailing your concerns and requesting a full investigation into any potential overcharges. The Financial Conduct Authority (FCA) estimates that around 14 million agreements were affected during the specified period, resulting in total refunds of £8.2 billion to consumers, with the average refund being approximately £700.
You can complain directly to your lender for free and do not need a claims management company. Lenders are required by law to investigate complaints thoroughly and respond within a set timeframe, typically 30 days or less depending on the complexity of the case.
Sources and references
- Financial Conduct Authority (FCA) estimates: 14 million agreements affected, £8.2 billion total refunds, average refund of £700.
- Period covered by FCA investigation: 6 April 2007 to 1 November 2024.