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.

How is my settlement figure calculated?

We calculate your settlement figure by following the Consumer Credit (Early Settlement) Regulations 2004. This means, we calculate your final figure by working out how much is left to pay on your finance agreement, minus the remaining amount of interest. We also include all admin fees in your final balance.