If you purchased a Citroen through Stoneacre Motor Group and financed it using PCP or HP, you might be eligible for compensation due to issues with discretionary commission arrangements. From 6 April 2007 to 1 November 2024, an estimated 14 million car finance agreements in the UK were affected by these practices, resulting in a total of £8.2 billion being paid out to consumers, with an average compensation of £700 per agreement (FCA estimate).
Citroen Finance at Stoneacre Motor Group
When buying a Citroen through Stoneacre Motor Group, whether it’s a C3 or any other model, you may have opted for PCP (
Personal Contract Purchase) or HP (
Hire Purchase). These financing options are popular with dealerships like Stoneacre Motor Group because they often include discretionary commission arrangements (DCAs), which can lead to overcharging. DCAs allow lenders and brokers to receive additional payments from each other that aren't always in the best interest of the consumer. This practice, while common, has been a point of contention due to its potential impact on consumers' finances.
Finding Your Lender
Stoneacre Motor Group is primarily a dealer for Citroen vehicles and operates mainly in the North and Midlands regions. However, it’s crucial to understand that Stoneacre Motor Group arranges your finance agreement but does not provide the actual financing. To identify which lender provided your car finance when you bought a Citroen through Stoneacre Motor Group, carefully review your finance documentation. The contract will clearly specify the name of the lender involved in your transaction.
If you suspect that your Citroen car finance agreement with Stoneacre Motor Group is affected by issues related to DCAs or any other concerns, it’s important to start by gathering evidence and then contacting your lender directly. You can complain to your lender for free without needing the assistance of a
claims management company. This approach allows you to handle the matter straightforwardly and directly address any issues with the finance agreement.
Sources and references
- Financial Conduct Authority (FCA) estimates: 14 million agreements, £8.2 billion total payout, £700 average compensation.
- Stoneacre Motor Group operates in North/Midlands regions and stocks Citroen vehicles.