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’m struggling to pay my PCP Balloon payment, what can I do? 

You can arrange to hand the vehicle back  by contacting us on 0333 200 0030 or by filling out our online form.

Alternatively, you can sell your vehicle to a dealership and use the payout to settle your finance. You can find your Settlement Figure by logging onto MyMotoNovo or on our automated telephone lines using your eight-digit agreement number. In some cases, you might be able to part exchange your vehicle for another one. Find out more here.

It‘s important that you continue to maintain your monthly payments until the agreement is fully settled as this could have a negative impact on your credit file.