TrustFord, a UK-wide dealer group, has been involved in the sale of luxury vehicles like Aston Martin through various finance agreements. From 6 April 2007 to 1 November 2024, it is estimated that around 14 million car finance agreements were affected by issues related to discretionary commission arrangements (DCAs), with an average claim value of £700 and a total sum of £8.2 billion (FCA estimate).
Aston Martin Finance at TrustFord
When purchasing an Aston Martin through TrustFord, consumers often opt for
Personal Contract Purchase (PCP) or
Hire Purchase (HP) finance plans. These agreements allow customers to make affordable monthly payments towards the purchase of their dream car while benefiting from a potential end-of-term option such as ownership via balloon payment or returning the vehicle. However, many consumers who bought an Aston Martin through TrustFord may not be aware that they are entitled to compensation due to issues with DCAs.
Discretionary commission arrangements play a significant role in PCP and HP deals by allowing lenders to pay dealers additional commissions based on customer performance during the finance term. This can lead to inflated monthly payments if these commissions were improperly included, thereby affecting the overall cost of the car finance agreement.
Finding Your Lender
Consumers who bought an Aston Martin through TrustFord should check their finance agreement carefully to identify which lender provided the funding for their purchase. It is crucial to understand that TrustFord acts as a dealer and not a direct lender; therefore, any complaints or claims must be directed towards the actual lender named in your finance documents.
To find out who your lender is, review your contract documentation thoroughly. The lender's name will typically be prominently displayed on several pages of the agreement, such as the cover page or within the terms and conditions section. If you are unsure where to look or need further assistance locating this information, contact TrustFord directly for clarification.
If you believe that your Aston Martin car finance agreement was affected by issues related to DCAs, it is important to
[complain directly](https://mlj.org.uk/guides/how-to-complain-to-your-lender) to the lender rather than contacting TrustFord. The dealer did not provide the finance but facilitated the arrangement with a financial institution, which means any disputes should be addressed through official channels provided by the lender.
You do not need a claims management company to handle your complaint; you can approach the lender independently and for free. Gather all relevant documentation such as your original finance agreement and payment records to support your case effectively. Once you have compiled this evidence, submit your formal complaint in writing to the lender’s customer service department. They will guide you through the necessary steps to resolve any issues related to your car finance agreement.
Sources and References
- Financial Conduct Authority (FCA) estimates for affected agreements: 14 million (6 April 2007 to 1 November 2024)
- Total estimated value of claims: £8.2 billion
- Average claim value: £700