If you took out a Personal Contract Purchase (PCP), Hire Purchase (HP), or other car finance agreement with Motonovo Finance, you may be entitled to compensation if your agreement was mis-sold. Many agreements arranged through dealerships included undisclosed dealer commissions or discretionary interest rate arrangements, which could have increased your costs without your knowledge.
Don’t have your old agreements? Use our PCP & car finance agreement finder tool to locate past contracts and connect with a trusted legal partner who can help you submit a claim efficiently.
About Motonovo Finance
Motonovo Finance is one of the UK’s major car finance providers, offering PCP and HP agreements through a network of dealerships. Between 2007 and 2021, many agreements included discretionary commission arrangements, which have since been found by the FCA and courts to be unfair in certain cases. ([motonovo.co.uk](https://www.motonovo.co.uk/help/complaints/?utm_source=chatgpt.com))
Motonovo has set aside significant funds to cover potential compensation claims for mis-sold agreements, demonstrating a recognition of past practices and readiness to resolve complaints. ([bottonline.co.uk](https://www.bottonline.co.uk/mis-sold-car-finance-claims/motonovo-finance-claims/?utm_source=chatgpt.com))
Common Mis-Selling Issues
- Undisclosed Dealer Commissions: Dealers may have earned commission based on the interest rate applied without informing the customer.
- Discretionary Commission Arrangements: Interest rates could be adjusted to increase dealer earnings without customer knowledge.
- Misleading Terms: Customers may not have been clearly informed about finance terms, interest calculations, or alternatives.
- Inflated Interest Rates: Some agreements charged higher APR than market averages, costing customers more over the term. ([totalclaim.co.uk](https://totalclaim.co.uk/lenders/motonovo-finance-claim/?utm_source=chatgpt.com))
Signs You May Have Been Mis-Sold
You may have a valid claim if:
- Your PCP or HP agreement was arranged through a dealer between 2007–2021.
- You were not informed the dealer could receive a commission from Motonovo Finance.
- Your interest rate was higher than necessary due to dealer discretion.
- Terms of the agreement were unclear or misleading.
Even if you no longer have the agreement, our agreement finder tool can help locate it and connect you with a legal partner for your claim.
Eligibility and Compensation
To be eligible for a claim:
- Your finance agreement must have been in place during the period affected by discretionary commission arrangements.
- Interest rates or fees were not fully disclosed or explained.
- You paid more than necessary due to dealer commission or inflated interest. ([premierlegalassist.com](https://www.premierlegalassist.com/car-finance-claims/lenders/motonovo-finance/?utm_source=chatgpt.com))
Average compensation estimates for mis-sold agreements are around £700–£950 per agreement, though the exact amount depends on your contract. Motonovo Finance has provisions allocated to cover potential redress payments.
How to Claim Compensation
- Gather Your Documents: Collect your finance contract, payment statements, and correspondence.
- Submit a Complaint to Motonovo: Use Motonovo’s official complaints process and explain why you believe your agreement was mis-sold. ([motonovo.co.uk](https://www.motonovo.co.uk/help/complaints/?utm_source=chatgpt.com))
- Use Our Agreement Finder Tool: If you cannot locate your agreement, our tool helps recover it and connects you with a legal partner to submit your claim efficiently.
- Wait for Response: Motonovo will investigate, though responses may vary due to FCA regulatory guidance.
- Escalate to the Financial Ombudsman Service: If necessary, the FOS can independently award compensation. See our claim deadline guide.
Tips for a Successful Claim
- Be precise and factual about how the agreement was mis-sold.
- Include all supporting documentation.
- Use our agreement finder tool to ensure no old agreements are missed.
- Track deadlines via our PCP claim deadlines page.
FAQs
Can I claim if my finance is fully paid?
Yes — even if the finance has ended or the car has been sold, you may still qualify for compensation. Use our agreement finder tool to locate old agreements.
Do I need a solicitor?
No — our trusted legal partners can manage your claim on your behalf, or you can submit directly to Motonovo.
Is there a time limit?
Yes — limitation periods and regulatory deadlines apply. Starting your claim now ensures eligibility. See our PCP claim deadline guide.
Conclusion
Motonovo Finance agreements may have been mis-sold due to undisclosed dealer commissions or discretionary interest arrangements. Using our agreement finder tool, you can locate past contracts and connect with a legal partner to submit a claim efficiently, maximizing your potential compensation.