Stoneacre Motor Group is a prominent car dealer group based in Thorne, Doncaster, with over 50 dealerships spread across the North and Midlands of England. The company stocks a wide range of brands including Ford, Volkswagen, Audi, BMW, Kia, Hyundai, Nissan, Suzuki, Fiat, Peugeot, Citroen, SEAT, and MG, making it a go-to destination for car buyers looking for both popular and niche brands.
Who is Stoneacre Motor Group?
Stoneacre Motor Group operates as one of the largest dealer networks in the UK, with its headquarters located in Thorne, Doncaster. The group's expansive network spans across several regions, providing customers with access to a broad selection of vehicles from top automotive manufacturers such as Ford, Volkswagen, Audi, BMW, Kia, Hyundai, Nissan, Suzuki, Fiat, Peugeot, Citroen, SEAT, and MG. Stoneacre Motor Group not only focuses on selling new cars but also offers full services including finance options tailored to individual customer needs.
How Stoneacre Motor Group Finance Agreements Work
When customers purchase a car from Stoneacre Motor Group, the dealership often arranges financing through various lenders such as
Black Horse,
Close Brothers,
MotoNovo, and
Santander Consumer Finance. These arrangements typically involve two main types of finance:
Personal Contract Purchase (PCP) and
[Hire Purchase](https://mlj.org.uk/guides/hp-claims) (HP). In these agreements, Stoneacre Motor Group acts as an intermediary between the customer and the lender, facilitating the process by arranging the finance plan that best suits the customer's requirements. The dealership receives a commission from the lender for every successful arrangement made on their behalf.
The Financial Conduct Authority (FCA) has launched an investigation into discretionary commission arrangements (DCAs), which covers agreements made between 6 April 2007 and 1 November 2024. This period saw approximately 14 million car finance agreements involving a total value of £8.2 billion, according to the FCA's estimates. The investigation focuses on whether dealers like Stoneacre Motor Group were incentivised by excessive commissions from lenders, potentially leading to mis-selling practices that may have affected consumers.
How to Check if Your Stoneacre Motor Group Finance Agreement is Affected
To determine if your finance agreement with Stoneacre Motor Group falls under the scope of the FCA investigation, you need to review your documentation thoroughly. Key details to look for include the name of the lender who provided the finance, the interest rate applied to your loan, and the dates when the agreement was established. If these details match the criteria set by the FCA's investigation, there is a possibility that your car finance arrangement may have been affected.
If you believe your Stoneacre Motor Group finance agreement falls under the FCA’s discretionary commission arrangements investigation, it is important to take action. Begin by identifying the lender who provided the finance and then contact them directly to lodge a complaint. You do not need to use the services of a
claims management company; instead, you can file your complaint with the lender for free.
Lenders are required to respond to complaints within eight weeks, during which time they will review your case and provide a response. If you remain unsatisfied after this period, you may escalate your complaint to the Financial Ombudsman Service (FOS). The FOS provides an independent service to resolve disputes between consumers and financial services providers free of charge.
You can complain directly to your lender for free without engaging any third-party claims management company. This ensures that you have full control over the process while receiving the necessary support from a professional body if needed.
Sources and references
- Financial Conduct Authority (FCA) estimates on car finance agreements: 14 million agreements, £8.2 billion total.
- Stoneacre Motor Group website: https://www.stoneacre.co.uk