MotoNovo Finance and the East of England are both part of the broader situation affected by concerns regarding car finance agreements. The Office for National Statistics (ONS) estimates that approximately 598,657 residents in the East of England may be affected by issues related to these agreements, which span from 6 April 2007 to 1 November 2024.
MotoNovo Finance Car Finance Agreements in East of England
The East of England is home to a diverse population with varying needs when it comes to car finance. MotoNovo Finance, part of FirstRand Bank, has been involved in issuing car finance agreements throughout this region. The Financial Conduct Authority (FCA) estimates that 12.1 million eligible agreements across the UK have been affected by issues related to add-on products and discretionary commission arrangements (DCA). In East of England alone, thousands of individuals may be impacted due to these practices. The average amount potentially owed per agreement is £829, which totals approximately £7.5 billion (FCA, March 2026) across the country.
The types of vehicles financed under MotoNovo Finance agreements in the East of England are varied and include personal cars, commercial vehicles, and vans. These agreements often included add-on products such as warranties or service plans, which may have been sold at inflated prices.
How to Complain to MotoNovo Finance from East of England
If you believe you were affected by an issue related to car finance with MotoNovo Finance in the East of England, it is important to understand your rights and how to proceed. You can complain directly to MotoNovo Finance for free using their dedicated complaints URL: https://www.motonovo.co.uk/complaints. This process does not require the assistance of a claims management company; you do not need one.
To initiate a complaint, gather all relevant documents such as your car finance agreement, any correspondence with MotoNovo Finance, and details about the add-on products you purchased. Ensure that your complaint is clear and concise, detailing how you believe you were affected by the issues related to DCAs or inflated prices for add-on services.
What East of England Residents Should Do Next
Before submitting a formal complaint to MotoNovo Finance, review the dates provided by the FCA-6 April 2007 through 1 November 2024. Ensure that your agreement falls within this period and gather any necessary documentation such as loan agreements, payment schedules, and statements showing additional charges.
Once you have all the required information, submit a detailed complaint to MotoNovo Finance directly. This process is free of charge, and there is no need for third-party assistance. By following these steps, residents in East of England can take control of their situation without needing to engage expensive legal representation or claims management services.
Sources and References
- 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 per agreement (FCA estimate)
- Office for National Statistics (ONS) Census 2021
- MotoNovo Finance complaints process URL: https://www.motonovo.co.uk/complaints
How Many People in East of England Are Affected?
Based on East of England's population of approximately 6,300,000, an estimated 1,316,417 motor finance agreements in the area may have been affected by discretionary commission arrangements (FCA estimate, proportional calculation). This represents approximately 9.4% 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).