How many residents in Bedfordshire might be affected by issues with Close Brothers Motor Finance car finance agreements? With an estimated 64,449 individuals potentially impacted, it's crucial for local drivers to understand their rights and the steps they can take. The population of Bedfordshire is approximately 682,000 (ONS Census 2021), making this a significant concern for many residents who financed their vehicles through Close Brothers Motor Finance.
Close Brothers Motor Finance Car Finance Agreements in Bedfordshire
Close Brothers Motor Finance has issued car finance agreements across the region since April 2007. According to FCA estimates, around 64,449 individuals in Bedfordshire may have been affected by issues such as excessive charges or unfair terms within their car finance contracts (FCA estimate). The total value of these problematic agreements is estimated at £7.5 billion (FCA, March 2026), with the average claim amount being approximately £829 (FCA estimate).
The types of vehicles financed through Close Brothers Motor Finance in Bedfordshire range from passenger cars and commercial vans to larger trucks and buses. Residents should be aware that if they entered into a car finance agreement between 6 April 2007 and 1 November 2024, they may have grounds for complaint due to issues such as incorrect charges or unfair terms.
How to Complain to Close Brothers Motor Finance from Bedfordshire
Bedfordshire residents can complain directly to Close Brothers Motor Finance at their dedicated complaints page: https://www.closemotorfinance.co.uk/complaints. This process is free of charge, and there's no need for a claims management company. Close Brothers Motor Finance has set aside £300 million in provisions specifically for motor finance redress (FCA estimate), indicating their commitment to resolving these issues.
To initiate the complaint process, residents should gather all relevant documents such as loan agreements, payment schedules, and any correspondence with Close Brothers Motor Finance regarding their car finance agreement. They should also ensure they check the dates of their agreements to see if they fall within the specified period (6 April 2007 to 1 November 2024). This timeline-based approach will help ensure that complaints are valid and actionable.
What Bedfordshire Residents Should Do Next
Residents who suspect issues with their Close Brothers Motor Finance car finance agreement should take proactive steps. First, they should review their loan documents carefully for any discrepancies or unfair terms, such as excessive charges or discretionary commission arrangements (DCA). If inconsistencies are found, residents can then proceed to file a complaint directly through the Close Brothers Motor Finance website.
By addressing these issues promptly and without involving third-party claim management companies, Bedfordshire residents can ensure they receive fair treatment from their lender. Remember, you do not need a claims management company; you can complain directly to Close Brothers Motor Finance for free. This direct approach can streamline the resolution process and potentially lead to faster compensation.
Sources and References
- Office for National Statistics (ONS) Census 2021
- Financial Conduct Authority (FCA) estimates: 12.1 million eligible agreements (FCA, March 2026), £7.5 billion (FCA, March 2026) total, £829 average per eligible agreement
- Close Brothers Motor Finance Complaints URL: https://www.closemotorfinance.co.uk/complaints
How Many People in Bedfordshire Are Affected?
Based on Bedfordshire's population of approximately 670,000, an estimated 140,000 motor finance agreements in the area may have been affected by discretionary commission arrangements (FCA estimate, proportional calculation). This represents approximately 1.0% of the UK total of 12.1 million eligible agreements.
Close Brothers Motor Finance is registered at Companies House (company number 00520241) with a status of active. The company was incorporated on 1953-06-03. Its registered office is at 10 Crown Place, London, EC2A 4FT. The company currently has 9 directors.
Close Brothers Motor Finance Complaint Statistics
According to the Financial Ombudsman Service, Close Brothers Motor Finance received 10 total complaints in H2 2024 BUSINESS. You can check the latest complaint data at the Financial Ombudsman Service.
Close Brothers Motor Finance's FCA reference number is 931092 (status: Appointed representative - introducer).