{"id":105040,"date":"2022-05-04T11:50:35","date_gmt":"2022-05-04T11:50:35","guid":{"rendered":"https:\/\/www.fiveminutesspare.com\/legal\/?p=105040"},"modified":"2022-05-12T14:12:10","modified_gmt":"2022-05-12T14:12:10","slug":"motor-finance-commission-claims","status":"publish","type":"post","link":"https:\/\/www.fiveminutesspare.com\/legal\/motor-finance-commission-claims\/legal-services\/individuals\/consumer-rights","title":{"rendered":"Motor Finance Commission Claims"},"content":{"rendered":"<div id=\"pl-105040\"  class=\"panel-layout\" ><div id=\"pg-105040-0\"  class=\"panel-grid panel-no-style\" ><div id=\"pgc-105040-0-0\"  class=\"panel-grid-cell\" ><div id=\"panel-105040-0-0-0\" class=\"so-panel widget widget_sow-editor panel-first-child panel-last-child\" data-index=\"0\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<h2 style=\"text-align: center;\">Motor Finance Commission - The Undisclosed Truth<\/h2>\n<p>In 2017 the FCA announced that they would be reviewing the lending processes surrounding the world of Motor Vehicle Finance, and you will not believe what they discovered.<\/p>\n<blockquote>\n<p>\"We identified concerns over the widespread use of commission models that link the broker\u2019s commission to the customer\u2019s interest rate under the finance agreement and allow brokers <strong>wide discretion to set or adjust that rate<\/strong>\" - FCA\u00a0 - Motor finance discretionary commission models and consumer credit commission disclosure \u2013 feedback on CP19\/28 and final rules.<\/p>\n<\/blockquote>\n<p>This meant that some Brokers\/Dealerships were getting paid more commission depending on the level of APR their customer was being charged. Some could also set their customer's APR and thus set their commission levels.<\/p>\n<p>Of course, their customers had no idea this was going on. However, they should have done as this should have been disclosed under a set of guidelines produced by the FCA called \"CONC\" (Consumer Credit sourcebook).<\/p>\n<h3>How to find out if you've been affected?<\/h3>\n<p>If your Finance agreement was more than 5.8% APR, then there is a chance that this has happened to you. These rules cover any vehicle purchased in the last 12 years and must have been purchased more than two years ago.<\/p>\n<\/div>\n<\/div><\/div><\/div><div id=\"pgc-105040-0-1\"  class=\"panel-grid-cell\" ><div id=\"panel-105040-0-1-0\" class=\"so-panel widget widget_sow-editor panel-first-child panel-last-child\" data-index=\"1\" ><div class=\"panel-widget-style panel-widget-style-for-105040-0-1-0\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<p><strong>The author of this article is <a href=\"https:\/\/www.fiveminutesspare.com\/members\/riteway\/\" target=\"_blank\" rel=\"noopener\">Riteway claims<\/a>\u00a0<\/strong><\/p>\n<p>Riteway Claims are Authorised and regulated by the FCA FRN (941650)<\/p>\n\n\t\t\t\t\t<div id=\"buddypress\">\n\t\t\n\t\t\t\t\t<h3 class=\"activity-shortcode-title\">Latest activity for this Author<\/h3>\n\t\t\n\t\t\n\t\t\n\t\t\n            <div class=\"bpas-shortcode-activities activity  shortcode-activity-stream\">\n\n                <ul id=\"activity-stream\" class=\"activity-list item-list  \">\n\n\t\t\t\t\t\t\t\t\t\t\t \n      \n<li class=\"xprofile updated_profile activity-item mini\" id=\"activity-32141\">\n    \n    \t<div class=\"activity-avatar besocial-img-tooltip\" data-thumb=\"https:\/\/www.fiveminutesspare.com\/legal\/wp-content\/uploads\/avatars\/527\/1651575620-bpfull.png\" data-cover=\"https:\/\/www.fiveminutesspare.com\/legal\/wp-content\/uploads\/buddypress\/members\/527\/cover-image\/62710b53cd51b-bp-cover-image.jpg\" data-membername=\"Riteway Claims\" data-since=\"Member since May 3, 2022\" data-count=\"\" data-featured=\"besclwp-not-featured\" data-bio=\"\">\n        \t\t<a href=\"https:\/\/www.fiveminutesspare.com\/members\/riteway\">\n\n\t\t\t<img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.fiveminutesspare.com\/legal\/wp-content\/uploads\/avatars\/527\/1651575620-bpthumb.png\" class=\"avatar user-527-avatar avatar-100 photo\" width=\"100\" height=\"100\" alt=\"Profile picture of Riteway Claims\" \/>\n\t\t<\/a>\n\t<\/div>\n\n\t<div class=\"activity-content\">\n\n\t\t<div class=\"activity-header\">\n\n\t\t\t<p><a href=\"https:\/\/www.fiveminutesspare.com\/members\/riteway\/profile\">Riteway Claims<\/a>&#039;s profile was updated <a href=\"https:\/\/www.fiveminutesspare.com\/whats-new\/p\/32141\" class=\"view activity-time-since bp-tooltip\" data-bp-tooltip=\"View Discussion\"><span class=\"time-since\" data-livestamp=\"2022-05-04T14:35:41+0000\">4 years, 1 month ago<\/span><\/a><\/p>\n\n\t\t<\/div>\n\n\t\t\n\t\t\t<div class=\"activity-inner\">\n\n\t\t\t\t\n\t\t\t<\/div>\n\n\t\t\n\t\t\n\t\t<div class=\"activity-meta\">\n\n\t\t\t\n\t\t\t\n\t\t<\/div>\n\n\t<\/div>\n\n\t\n\t\n\t\t<div class=\"activity-comments\">\n\n\t\t\t\n\t\t\t\n\t\t<\/div>\n\n\t\n\t\n<\/li>\n\n\t\t\t\t\t\n\t\t\t\t\t                <\/ul>\n\n\t\t\t\t                    <div class=\"pagination\">\n                        <div class=\"pag-count\">Viewing 1 - 1 of 5 items<\/div>\n                        <div class=\"pagination-links\"><span aria-current=\"page\" class=\"page-numbers current\">1<\/span>\n<a class=\"page-numbers\" href=\"\/legal\/wp-json\/wp\/v2\/posts\/105040?acpage=2\">2<\/a>\n<span class=\"page-numbers dots\">&hellip;<\/span>\n<a class=\"page-numbers\" href=\"\/legal\/wp-json\/wp\/v2\/posts\/105040?acpage=5\">5<\/a>\n<a class=\"next page-numbers\" href=\"\/legal\/wp-json\/wp\/v2\/posts\/105040?acpage=2\">&rarr;<\/a><\/div>\n                    <\/div>\n\t\t\t\t\n            <\/div>\n\n        \n\t\t        <form name=\"bpas-activities-args\" class=\"bpas-activities-args\">\n            <input type=\"hidden\"  class=\"bpas_input_display_comments\" name=\"display_comments\" value=\"threaded\">\n            <input type=\"hidden\" class=\"bpas_input_include\" name=\"include\" value=\"\">\n            <input type=\"hidden\" class=\"bpas_input_exclude\" name=\"exclude\" value=\"\">\n            <input type=\"hidden\" class=\"bpas_input_int\" name=\"in\" value=\"\">\n            <input type=\"hidden\" class=\"bpas_input_sort\" name=\"sort\" value=\"DESC\">\n            <input type=\"hidden\" class=\"bpas_input_page bps-input-current-page\" name=\"page\" value=\"2\">\n            <input type=\"hidden\" class=\"bpas_input_per_page\" name=\"per_page\" value=\"1\">\n            <input type=\"hidden\" class=\"bpas_input_max\" name=\"max\" value=\"\">\n            <input type=\"hidden\" class=\"bpas_input_count_total\" name=\"count_total\" value=\"1\">\n            <input type=\"hidden\" class=\"bpas_input_scope\" name=\"scope\" value=\"\">\n\n            <input type=\"hidden\" class=\"bpas_input_user_id\" name=\"user_id\" value=\"527\">\n            <input type=\"hidden\" class=\"bpas_input_object\" name=\"object\" value=\"\">\n            <input type=\"hidden\" class=\"bpas_input_bpas_action\" name=\"bpas_action\" value=\"\">\n            <input type=\"hidden\" class=\"bpas_input_primary_id\" name=\"primary_id\" value=\"\">\n            <input type=\"hidden\" class=\"bpas_input_secondary_id\" name=\"secondary_id\" value=\"\">\n            <input type=\"hidden\" class=\"bpas_input_search_terms\" name=\"search_terms\" value=\"\">\n            <input type=\"hidden\" class=\"bpas_input_for\" name=\"for\" value=\"\">\n            <input type=\"hidden\" class=\"bpas_input_role\" name=\"role\" value=\"\">\n            <input type=\"hidden\" class=\"bpas_input_for_group\" name=\"for_group\" value=\"\">\n            <input type=\"hidden\" class=\"bpas_input_wpnonce\" name=\"_wpnonce\" value=\"6082448dc5\">\n            <!--<input type=\"hidden\" name=\"action\" value=\"bpas_load_activities\">-->\n        <\/form>\n\n\t\t<form action=\"\" name=\"activity-loop-form\" id=\"activity-loop-form\" method=\"post\">\n\t\t\t<input type=\"hidden\" id=\"_wpnonce_activity_filter\" name=\"_wpnonce_activity_filter\" value=\"c9aaf660b3\" \/><input type=\"hidden\" name=\"_wp_http_referer\" value=\"\/legal\/wp-json\/wp\/v2\/posts\/105040\" \/>\t\t<\/form>\n\n\t\t\t\t\t<\/div>\n\t\t\n\t\t\n<\/div>\n<\/div><\/div><\/div><\/div><\/div><div id=\"pg-105040-1\"  class=\"panel-grid panel-no-style\" ><div id=\"pgc-105040-1-0\"  class=\"panel-grid-cell\" ><div id=\"panel-105040-1-0-0\" class=\"so-panel widget widget_sow-editor panel-first-child panel-last-child\" data-index=\"2\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<p>You may not need the help of a Claims Management Company or a Solicitor to help you claim back your money, but in our experience, the Finance companies do not make it straightforward.<\/p>\n<p>We pride ourselves on doing the most for our clients, and if you would like to inquire about how we can help, please use the form below to contact us.<\/p>\n<p>&nbsp;<\/p>\n<p><center><iframe loading=\"lazy\" src=\"https:\/\/docs.google.com\/forms\/d\/e\/1FAIpQLScp2HPiiaNXufjggi6QHHfTUCPPzrPaoD1dhuF1X3e6qj5atA\/viewform?embedded=true\" width=\"640\" height=\"1300\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\">Loading\u2026<\/iframe><\/center><center><\/center><\/p>\n<\/div>\n<\/div><\/div><\/div><\/div><div id=\"pg-105040-2\"  class=\"panel-grid panel-no-style\" ><div id=\"pgc-105040-2-0\"  class=\"panel-grid-cell\" ><div id=\"panel-105040-2-0-0\" class=\"so-panel widget widget_sow-editor panel-first-child panel-last-child\" data-index=\"3\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3777560060821597\"\n     crossorigin=\"anonymous\"><\/script><br \/>\n<ins class=\"adsbygoogle\"\n     style=\"display:block; text-align:center;\"\n     data-ad-layout=\"in-article\"\n     data-ad-format=\"fluid\"\n     data-ad-client=\"ca-pub-3777560060821597\"\n     data-ad-slot=\"3765988378\"><\/ins><br \/>\n<script>\n     (adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/p>\n<p>&nbsp;<\/p>\n<p><em>Riteway Claims Limited, trading name Riteway Claims is a claim management company authorised and regulated by the Financial Conduct Authority FRN (941650). You can check our authorisation on the FCA Financial Services Register by visiting the following website: https:\/\/register.fca.org.uk. We are Registered in England and Wales under company number (10703533).<\/em><\/p>\n<\/div>\n<\/div><\/div><\/div><\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>Motor Finance Commission &#8211; The Undisclosed Truth In 2017 the FCA announced that they would be reviewing the lending processes surrounding the world of Motor Vehicle Finance, and you will not believe what they discovered. &#8220;We identified concerns over the widespread use of commission models that link the broker\u2019s commission to the customer\u2019s interest rate&#8230;<\/p>\n","protected":false},"author":527,"featured_media":105074,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-105040","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-consumer-rights"],"_links":{"self":[{"href":"https:\/\/www.fiveminutesspare.com\/legal\/wp-json\/wp\/v2\/posts\/105040","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fiveminutesspare.com\/legal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fiveminutesspare.com\/legal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fiveminutesspare.com\/legal\/wp-json\/wp\/v2\/users\/527"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fiveminutesspare.com\/legal\/wp-json\/wp\/v2\/comments?post=105040"}],"version-history":[{"count":40,"href":"https:\/\/www.fiveminutesspare.com\/legal\/wp-json\/wp\/v2\/posts\/105040\/revisions"}],"predecessor-version":[{"id":105085,"href":"https:\/\/www.fiveminutesspare.com\/legal\/wp-json\/wp\/v2\/posts\/105040\/revisions\/105085"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fiveminutesspare.com\/legal\/wp-json\/wp\/v2\/media\/105074"}],"wp:attachment":[{"href":"https:\/\/www.fiveminutesspare.com\/legal\/wp-json\/wp\/v2\/media?parent=105040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fiveminutesspare.com\/legal\/wp-json\/wp\/v2\/categories?post=105040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fiveminutesspare.com\/legal\/wp-json\/wp\/v2\/tags?post=105040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}