Complaint

Roman Danaev

25 May 2023

Meaning and Definition

A complaint, in the context of car finance, refers to a formal expression of dissatisfaction made by a customer regarding a product, service, or experience related to car finance. It is an opportunity for customers to voice their concerns, seek resolution, or express dissatisfaction with the actions or conduct of a lender, dealer, or finance provider.

Why it is important to know

Understanding the complaints process is essential for customers who have encountered issues or problems with their car finance arrangements. By filing a complaint, customers can bring attention to their concerns, seek resolution, and ensure that their rights as consumers are protected. Complaints can help improve industry practices, encourage fair treatment, and hold lenders or dealers accountable for any misconduct or poor service.

Example in car finance

Suppose a customer encounters issues with the billing statements for their car loan. They notice discrepancies in the interest calculations and suspect errors in the lender's accounting. In such a situation, the customer can file a complaint with the lender, providing details of the issue and requesting a resolution. The lender will then investigate the complaint, address the customer's concerns, and take appropriate actions, such as rectifying the errors, providing an explanation, or offering compensation if warranted.

Car finance calculator

Must be between £3,000 to £50,000
Must be between £100 to £10,000 and difference between borrow and deposit must be £5,000
24month
36month
48month
60month
We are a credit broker not a lender

These estimates are subject to credit checks and may change when you apply for finance. this is for example purposes only

Hire Purchase (HP)
APR 14.9%

60 monthly payments of

£0


Interest rate
14.9% APR
Amount of interest
£0
Total payment
£0
Personal Contract Purchase (PCP)
APR 14.9%

60 monthly payments of

£0


Optional final payment
£0
Interest rate
14.9% APR
Amount of interest
£0
Total payment
£0