Since the implementation of car finance agreements on 6 April 2007, MotoNovo Finance and Greater Manchester have been closely intertwined, affecting thousands of local residents. The Office for National Statistics (ONS) estimates that approximately 271,026 residents in Greater Manchester may be affected by these agreements, with the total number of car finance agreements reaching 12.1 million eligible agreements across the UK as of 1 November 2024 (FCA estimate).
MotoNovo Finance Finance Agreements in Greater Manchester
The impact of car finance agreements on residents of Greater Manchester is significant. With a population of approximately 2,868,000 people (ONS Census 2021), the region has seen a substantial number of individuals affected by these agreements issued by MotoNovo Finance and other lenders. The Financial Conduct Authority (FCA) estimates that £7.5 billion (FCA, March 2026) in car finance agreements have been made during this period, with an average agreement amounting to £829 (FCA estimate). This underscores the widespread nature of the issue across Greater Manchester.
Residents of Greater Manchester may have taken out various types of vehicle financing through MotoNovo Finance, including personal contract purchase (PCP), hire purchase (HP), and conditional sale agreements. These arrangements often involve a [discretionary commission](https://mlj.org.uk/glossary/discretionary-commission-arrangement) arrangement (DCA) that can be financially detrimental to borrowers if not properly managed or understood. The complexity of these contracts means that many residents may have been unaware of their full implications at the time of signing.
How to Complain to MotoNovo Finance from Greater Manchester
If you believe you are affected by a car finance agreement issued by MotoNovo Finance, it is important to know that you can complain directly to the lender for free. The process involves visiting the official complaint page on their website: https://www.motonovo.co.uk/complaints. This direct approach ensures transparency and allows residents of Greater Manchester to address any issues without incurring additional costs or needing a claims management company.
It is crucial to gather all relevant documentation before initiating your complaint, including loan agreements, payment records, and any communication with the lender. Complaining directly to MotoNovo Finance is straightforward and can provide immediate resolution, bypassing unnecessary intermediaries that might add complexity or fees to the process.
What Greater Manchester Residents Should Do Next
If you suspect a problem with your car finance agreement from MotoNovo Finance, the first step is to review all relevant documentation. Check the dates of any agreements and ensure they fall within the period from 6 April 2007 to 1 November 2024. This timeframe is critical as it encompasses the specific regulations and conditions under which these agreements were established.
Next, compile a detailed list of your concerns and gather all supporting evidence such as payment receipts and correspondence with the lender. Once you have this information, proceed directly to MotoNovo Finance’s complaint process via their official website. By doing so, you can avoid unnecessary costs and streamline the resolution process effectively.
Sources and references
- Office for National Statistics (ONS) Census 2021
- Financial Conduct Authority (FCA), 2024
How Many People in Greater Manchester Are Affected?
Based on Greater Manchester's population of approximately 2,800,000, an estimated 585,074 motor finance agreements in the area may have been affected by discretionary commission arrangements (FCA estimate, proportional calculation). This represents approximately 4.18% 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).