Oxfordshire residents who have been affected by the recent car finance scandal involving MotoNovo Finance may be covered by the FCA redress scheme. The Financial Conduct Authority (FCA) has identified that approximately 68,512 individuals in Oxfordshire could be impacted due to issues surrounding discretionary commission arrangements (DCAs). This figure is based on an estimated 12.1 million eligible agreements (FCA, March 2026) nationwide from 6 April 2007 to 1 November 2024.
MotoNovo Finance Car Finance Agreements in Oxfordshire
Oxfordshire, with a population of approximately 725,000 (ONS Census 2021), has seen many residents enter into car finance agreements through lenders like MotoNovo Finance. As part of FirstRand Bank, MotoNovo Finance provided financing for various types of vehicles, including cars and motorcycles. The FCA estimates that these agreements total £7.5 billion (FCA, March 2026) across the country (FCA estimate). This includes an FCA-estimated scheme average per eligible agreement: £829 (FCA estimate).
Residents who financed their cars through MotoNovo Finance during the specified period might have encountered issues related to unfair practices or hidden fees, which could affect their financial stability and peace of mind.
How to Complain to MotoNovo Finance from Oxfordshire
Oxfordshire residents can directly complain to MotoNovo Finance at no cost. The lender’s official complaints process is available online via the following URL: https://www.motonovo.co.uk/complaints. It is important for affected individuals to know that they do not need a claims management company and can handle their complaint independently.
By visiting the website, residents can submit detailed information about any issues encountered with their car finance agreement. This direct approach ensures transparency and efficiency in resolving disputes without unnecessary intermediaries or fees.
What Oxfordshire Residents Should Do Next
If you suspect that your car finance agreement with MotoNovo Finance might be affected by the scandal, there are several steps you should take:
- Gather Documents: Collect all relevant documents related to your car finance agreement, such as contracts, payment receipts, and any correspondence with the lender.
- Check Dates: Verify if your agreement falls within the specified period from 6 April 2007 to 1 November 2024.
- Complain Directly: Submit a complaint directly through MotoNovo Finance’s official complaints process at https://www.motonovo.co.uk/complaints.
By taking these steps, Oxfordshire residents can assert their rights and seek fair compensation for any losses incurred due to unfair practices in the car finance industry.
Sources and References
- Financial Conduct Authority (FCA) estimates: 12.1 million eligible agreements (FCA, March 2026) from 6 April 2007 to 1 November 2024, £7.5 billion (FCA, March 2026) total, £829 average per eligible agreement per agreement.
- ONS Census 2021 for Oxfordshire population figures.
- MotoNovo Finance official website for complaint process URL: https://www.motonovo.co.uk/complaints
How Many People in Oxfordshire Are Affected?
Based on Oxfordshire's population of approximately 690,000, an estimated 144,179 motor finance agreements in the area may have been affected by discretionary commission arrangements (FCA estimate, proportional calculation). This represents approximately 1.03% 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.