MotoNovo Finance and Cornwall have intersected in significant ways over the past decade, with many residents in the county relying on car finance agreements to purchase their vehicles. According to figures from the Office for National Statistics (ONS), Cornwall has a population of approximately 570,000, and an estimated 53865 residents may be affected by issues related to car finance agreements made between 6 April 2007 and 1 November 2024. These figures are based on estimates from the Financial Conduct Authority (FCA) which suggests that 12.1 million eligible agreements (FCA, March 2026) nationwide, involving a total of £7.5 billion (FCA, March 2026) with an FCA-estimated scheme average of £829 per eligible agreement.
MotoNovo Finance Finance Agreements in Cornwall
Cornwall's residents have used car finance to purchase a variety of vehicles, ranging from small city cars to larger family vehicles and even commercial vehicles for business use. The number of affected individuals is significant, considering that Cornwall’s smaller population compared to other regions means the local impact could be more concentrated. Given MotoNovo Finance’s role as part of FirstRand Bank, it has been a popular choice for car finance in Cornwall due to its competitive offerings and customer service.
How to Complain to MotoNovo Finance from Cornwall
Residents in Cornwall who believe they have been affected by issues related to their car finance agreements with MotoNovo Finance can file complaints directly through the company's website at https://www.motonovo.co.uk/complaints. This process is entirely free and does not require any involvement of a claims management company, as you can complain directly to your lender without additional costs.
What Cornwall Residents Should Do Next
Cornwall residents who are considering filing a complaint about their car finance agreement should take several steps before initiating the process. First, gather all relevant documents such as loan agreements, payment records, and correspondence with MotoNovo Finance. Check the dates of these documents to ensure they fall within the affected period (6 April 2007 to 1 November 2024).
Once you have compiled your evidence, review it carefully to understand any discrepancies or issues that may have arisen during the agreement. If you find errors or unfair practices, such as excessive charges or misleading information about discretionary commission arrangements (DCA), you should prepare a detailed complaint highlighting these points.
Cornwall residents are encouraged to act promptly and directly with MotoNovo Finance rather than seeking assistance from external parties. This ensures that any issues can be resolved efficiently without the added complications of third-party involvement.
Sources and References
- Financial Conduct Authority, 2024
- Office for National Statistics Census 2021
How Many People in Cornwall Are Affected?
Based on Cornwall's population of approximately 570,000, an estimated 119,104 motor finance agreements in the area may have been affected by discretionary commission arrangements (FCA estimate, proportional calculation). This represents approximately 0.85% of the UK total of 12.1 million eligible agreements.
MotoNovo Finance is registered at Companies House (company number 11556144) with a status of active. The company was incorporated on 2018-09-06. Its registered office is at Two, Central Square, Cardiff, CF10 1FS, Wales. The company currently has 9 directors.
MotoNovo Finance Complaint Statistics
According to the Financial Ombudsman Service, MotoNovo Finance received 4 total complaints in H2 2024 BUSINESS. You can check the latest complaint data at the Financial Ombudsman Service.
MotoNovo Finance's FCA reference number is 827851 (status: Authorised).