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Discretionary Commission Arrangement (DCA) Complaints
On 11 January 2024, the Financial Conduct Authority (FCA) announced that it’ll be carrying out a review into discretionary commission arrangements within the motor finance industry. For more information, please click here.
Important update: We're back open for business.
Following the UK Court of Appeal judgment on Friday 25th October, we took the decision to pause new business from Monday 28th October while we worked to mitigate the legal implications to protect our dealers, brokers and customers.
We have now made the necessary adjustments to ensure the business can operate within the legal requirements set out in the judgment and are now open for new business in MotoNovo. We do understand the pause to new business created challenges for you, and we thank you for your patience and support while we have been navigating the impact of the judgment.
MotoNovo Finance subscribes to the Finance and Leasing Association (FLA) Lending Code which sets out standards of good practice for the finance and leasing industry. To see a copy of the most recent Lending Code, please click the link below:
From settlement figures to making a payment, head to our FAQs to find the answers to our most commonly asked questions.
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