Swansway Motor Group and Ford have a long history of partnering to bring vehicles to consumers. Although Swansway Motor Group may not currently stock Ford, many consumers purchased Ford vehicles through Swansway Motor Group or similar dealer groups on Personal Contract Purchase (PCP) or Hire Purchase (HP) finance. These agreements could be affected by the FCA’s changes regarding motor finance practices, impacting millions of consumers nationwide.
Ford Finance at Swansway Motor Group
When you purchase a Ford vehicle from Swansway Motor Group through PCP or HP finance, it is important to understand that while Swansway Motor Group acts as your dealer and sales representative, the lender providing the financing agreement is typically an external party. This means that any issues with your car finance should be directed to the lender rather than Swansway Motor Group. The role of Swansway Motor Group in these transactions often includes a
Discretionary Commission Arrangement (DCA), which can affect the terms and costs associated with your PCP or HP agreement.
PCP and HP agreements work by allowing you to pay an initial deposit, followed by regular monthly payments over a set period. At the end of the term, you have several options depending on the type of finance: return the vehicle, purchase it outright, or extend the loan period. The DCA allows Swansway Motor Group to receive additional commission based on the interest rate applied to your agreement. This arrangement can lead to higher costs for consumers if the interest rates are set too high.
Finding Your Lender
To ensure you address any issues with the correct entity, it is crucial to identify which lender provided your Ford finance agreement when purchased through Swansway Motor Group or a similar dealer group. Look at your original finance documentation, such as the contract hire agreement, loan agreement, or other relevant paperwork. The name of the lender will be clearly stated there. Common lenders for car finance agreements include banks and financial institutions like Nationwide, Santander, BMW Financial Services UK Limited, and others.
If you suspect that your Ford finance agreement purchased through Swansway Motor Group is affected by unfair practices or misleading information, the first step should be to contact your lender directly. You can complain about any issues with your car finance without needing a
claims management company. The process of complaining to your lender typically involves gathering evidence and submitting a formal
[complaint letter](https://mlj.org.uk/template-letters) or email detailing your concerns.
You do not need a claims management company to handle this for you; many consumers successfully resolve their complaints by contacting the lender directly. This approach is often more efficient and can save you money, as working with claims companies may involve additional fees that could be avoided if you manage the process yourself. Remember that lenders are required to respond promptly to customer complaints and provide a resolution.
Sources and references
- FCA estimates: 14 million agreements affected (FCA estimate), £8.2 billion total (FCA estimate), £700 average per claim (FCA estimate)
- Period of interest: 6 April 2007 to 1 November 2024