MotoNovo Finance and residents of Staffordshire may be impacted by car finance agreements made between 6 April 2007 and 1 November 2024, with an estimated £7.5 billion (FCA, March 2026) in total value (FCA estimate). This period saw a significant number of individuals in Staffordshire affected, as MotoNovo Finance operates within the region as part of FirstRand Bank.
MotoNovo Finance Car Finance Agreements in Staffordshire
Based on FCA estimates, 12.1 million eligible agreements were affected during the specified period (FCA estimate). In Staffordshire alone, an estimated 83,066 residents may have been impacted by these agreements (ONS/FCA estimate), with a total value of £829 on average per agreement (FCA estimate). These agreements likely involved various types of vehicles, from small hatchbacks to larger SUVs and commercial vehicles.
How to Complain to MotoNovo Finance From Staffordshire
Residents in Staffordshire who believe they have been affected by the car finance issues with MotoNovo Finance can complain directly to the lender for free. The process is straightforward and does not require engaging a claims management company. To initiate a complaint, residents should visit MotoNovo Finance's dedicated complaints page at https://www.motonovo.co.uk/complaints. This direct approach ensures that any concerns are handled efficiently without unnecessary costs or delays.
What Staffordshire Residents Should Do Next
Staffordshire residents who suspect they have been affected by the car finance issues with MotoNovo Finance should take several steps to ensure their rights are protected:
Gather Necessary Documents
Residents should collect all relevant documents related to their car finance agreements, including loan contracts, payment history, and any correspondence with MotoNovo Finance. This documentation will help substantiate any claims or concerns they may have.
Check Agreement Dates
It is crucial for residents to verify that their car finance agreement falls within the specified period (6 April 2007 to 1 November 2024). If it does, they should proceed with initiating a complaint through MotoNovo Finance's dedicated complaints process.
Complain Directly and Free of Charge
Residents are encouraged to complain directly to MotoNovo Finance using their online complaints form. This ensures that the issue is addressed promptly without incurring additional fees or engaging third-party services.
Sources and References
- Financial Conduct Authority (FCA), 2024
- Office for National Statistics (ONS) Census 2021
How Many People in Staffordshire Are Affected?
Based on Staffordshire's population of approximately 870,000, an estimated 181,791 motor finance agreements in the area may have been affected by discretionary commission arrangements (FCA estimate, proportional calculation). This represents approximately 1.3% 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).