MotoNovo Finance has been providing car finance solutions to residents in Yorkshire and The Humber since 2007, with an estimated 517954 individuals potentially affected by issues related to the company's discretionary commission arrangement (DCA) during the period from 6 April 2007 to 1 November 2024. With a population of approximately 5,481,000 in Yorkshire and The Humber (ONS Census 2021), many residents may find themselves navigating challenges tied to their car finance agreements.
MotoNovo Finance Finance Agreements in Yorkshire and The Humber
The FCA estimates that 12.1 million eligible agreements were affected by the DCA issues across the UK, with an average of £829 being overcharged per agreement (FCA estimate). In Yorkshire and The Humber, residents may have been involved in various types of vehicle financing through MotoNovo Finance. These include personal contract purchase (PCP) deals, hire purchase agreements, and other forms of car finance that were popular during the relevant period.
Residents in Yorkshire and The Humber who entered into car finance agreements with MotoNovo Finance between 6 April 2007 and 1 November 2024 may be eligible to complain about overcharging. This is particularly important given the significant total amount of £7.5 billion (FCA, March 2026) that has been identified as potentially misappropriated due to the DCA.
How to Complain to MotoNovo Finance from Yorkshire and The Humber
Residents in Yorkshire and The Humber who believe they have been affected by the issues surrounding MotoNovo Finance's car finance agreements can file a complaint directly with the company. To do this, visit MotoNovo Finance’s dedicated complaints page at https://www.motonovo.co.uk/complaints. It is important to note that it is free to complain directly to the lender and you do not need a claims management company.
The process of filing a complaint involves gathering relevant documentation such as loan agreements, payment receipts, and any correspondence with MotoNovo Finance. Residents should ensure they have all necessary information before initiating their complaint to strengthen their case effectively.
What Yorkshire and The Humber Residents Should Do Next
Residents in Yorkshire and The Humber who are considering filing a complaint should start by gathering relevant documents such as loan agreements, payment receipts, and any communication with MotoNovo Finance. It is crucial to check the dates on these documents to ensure they fall within the specified period of 6 April 2007 to 1 November 2024.
Residents are encouraged to review their car finance agreements carefully to determine if there were any irregularities or discrepancies that could indicate overcharging. By compiling thorough evidence and submitting a direct complaint to MotoNovo Finance, residents can seek redress for any financial issues related to the DCA mechanism without incurring additional fees or resorting to claims management companies.
Sources and References
- FCA (2024). "Car Finance Agreements Affected by Discretionary Commission Arrangements."
- ONS Census 2021. "Population of Yorkshire and The Humber."
How Many People in Yorkshire and The Humber Are Affected?
Based on Yorkshire and The Humber's population of approximately 250,000, an estimated 52,238 motor finance agreements in the area may have been affected by discretionary commission arrangements (FCA estimate, proportional calculation). This represents approximately 0.37% 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).