The North East of England may have thousands of residents who were affected by unfair practices in car finance agreements, specifically those with MotoNovo Finance. According to FCA estimates, 12.1 million eligible agreements (FCA, March 2026) between 6 April 2007 and 1 November 2024 could be covered by the FCA redress scheme., potentially impacting an estimated 250,142 residents in the North East (ONS/FCA estimate). This region's population is approximately 2.647 million people (ONS Census 2021), making it significant to understand how these car finance agreements were structured and how they may have affected local consumers.
MotoNovo Finance Car Finance Agreements in North East
How many individuals in the North East are likely impacted by unfair practices within their car finance arrangements with MotoNovo Finance? The Financial Conduct Authority (FCA) estimates that 12.1 million eligible agreements (FCA, March 2026) could be covered by the FCA redress scheme., affecting a considerable number of residents in the region. These agreements may involve a variety of vehicles, from compact cars to larger SUVs and vans, all financed under potentially unfair terms.
The issue centres around a "discretionary commission arrangement" (DCA), where lenders like MotoNovo Finance could have received excessive commissions from car dealerships during the sale process. This DCA could mean that consumers paid more for their car finance than was necessary due to these hidden fees and commissions.
How to Complain to MotoNovo Finance from North East
North East residents who believe they were affected by unfair practices in their car finance agreements with MotoNovo Finance can
complain directly to the lender without needing a
claims management company. The process is straightforward, as MotoNovo Finance provides a dedicated complaints page on their website (https://www.motonovo.co.uk/complaints). It's important for consumers to gather all relevant documents and evidence before initiating a complaint.
You do not need a claims management company to handle your complaint; the process can be managed directly with MotoNovo Finance at no cost to you. This direct approach ensures that the issue is addressed promptly, without any third-party fees or delays.
What North East Residents Should Do Next
If you suspect that you were affected by unfair car finance practices involving MotoNovo Finance, it's important to take action now. Gather all relevant documents related to your finance agreement, such as loan contracts, payment receipts, and correspondence with the lender. Check the dates of your agreements to ensure they fall within the specified period (6 April 2007 to 1 November 2024).
Next, visit MotoNovo Finance's complaint page at https://www.motonovo.co.uk/complaints to initiate a direct complaint. By doing so, you are taking an important step towards addressing any potential issues with your car finance agreement.
Sources and References
- ONS Census (2021)
- Financial Conduct Authority (FCA) estimates for affected agreements (£7.5 billion (FCA, March 2026) total, £829 average per eligible agreement per case)
How Many People in North East Are Affected?
Based on North East's population of approximately 2,700,000, an estimated 564,179 motor finance agreements in the area may have been affected by discretionary commission arrangements (FCA estimate, proportional calculation). This represents approximately 4.03% 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.