MotoNovo Finance

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.

I’ve changed my bank account. What should I do?

Register or log in to MyMotoNovo online or via the app to update your details. To log in, all you need is your agreement number and personal details.

If the new bank account is a joint one and needs more than one signature, email us to request a new direct debit mandate at [email protected]. It’s best to do this at least 10 days before your next payment date, otherwise your next payment will come out of your old account as normal.