Since April 2007, hundreds of thousands of car finance agreements have been issued across the UK. In Gloucestershire alone, an estimated 60196 residents may be affected by issues with these agreements, particularly those involving MotoNovo Finance, a subsidiary of FirstRand Bank. This article explores how many people in Gloucestershire are dealing with potential disputes related to car finance and what steps can be taken to address them.
MotoNovo Finance Car Finance Agreements in Gloucestershire
According to the Financial Conduct Authority (FCA), an estimated 12.1 million eligible agreements may have been affected by issues during the period from April 6, 2007, to November 1, 2024. In Gloucestershire, which has a population of approximately 637,000 people (ONS Census 2021), this translates into nearly 10% of residents potentially being impacted by these issues, particularly if they financed their cars through companies like MotoNovo Finance.
The types of vehicles that may have been affected include not only personal cars but also commercial vehicles and motorcycles. Gloucestershire's diverse vehicle finance landscape includes a mix of private purchases and business use, making it crucial for residents to understand the potential implications of these car finance agreements.
How to Complain to MotoNovo Finance from Gloucestershire
Gloucestershire residents who suspect that their car finance agreement might be affected can take action by directly contacting MotoNovo Finance. The company provides a straightforward complaints process available at https://www.motonovo.co.uk/complaints. This direct approach is free of charge and does not require the involvement of any claims management companies.
Residents should gather all relevant documents, such as loan agreements, payment schedules, and correspondence with lenders. These materials can help substantiate any concerns about issues like mis-selling or unfair terms. By following MotoNovo Finance's complaint process, Gloucestershire residents can seek resolution without incurring additional fees or engaging outside parties.
What Gloucestershire Residents Should Do Next
Before initiating a formal complaint, it is essential for Gloucestershire residents to review the dates of their car finance agreements and any related communications. If there are signs that an agreement might have been affected by issues during the specified period, gathering evidence such as bank statements and receipts can be crucial.
Residents should also consider reaching out to other affected individuals in their local area who may have similar experiences with MotoNovo Finance or other lenders operating within Gloucestershire. This collective approach can provide additional support and potentially identify broader patterns of mis-selling or unfair practices.
Sources and References
- Financial Conduct Authority (FCA). "Estimated 12.1 million eligible agreements affected from April 6, 2007 to November 1, 2024." FCA estimate.
- Office for National Statistics (ONS), UK Census Data. Population estimates for Gloucestershire: ONS Census 2021.
- Financial Conduct Authority (FCA). "Car finance mis-selling issues potentially affecting £7.5 billion (FCA, March 2026) total and an average of £829 per agreement." FCA estimate.
How Many People in Gloucestershire Are Affected?
Based on Gloucestershire's population of approximately 640,000, an estimated 133,731 motor finance agreements in the area may have been affected by discretionary commission arrangements (FCA estimate, proportional calculation). This represents approximately 0.96% 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).
You can [complain to your lender](https://mlj.org.uk/guides/how-to-complain-to-your-lender) directly for free. You do not need a claims management company to check whether you are owed compensation.