How to Claim Against MotoNovo Finance: Step-by-Step Guide
UK drivers who purchased their vehicles with MotoNovo Finance have been looking back at their contracts to see whether they are eligible for a car finance refund.
If you believe you are a victim of misselling, this guide can give you insights through a clear step-by-step process. Keep reading to learn exactly how to proceed with your MotoNovo car finance claim.
Confirm Eligibility
Can I claim against MotoNovo Finance?
Individual finance agreement holders and those in joint arrangements are eligible to file a claim if they believe the terms were misleading.
This is why you should evaluate your contract. Determine if you qualify for a claim. Examine your contract thoroughly to ensure that its terms are clear and fair.
Also, verify that every critical detail is openly disclosed and that you were not misled about the product or service.
Signs of Mis-selling: A Checklist
- Inconsistencies in contract terms
- Explanations of fees, charges, and conditions are vague.
- Commission fees appear concealed or unjustified.
- Aggressive sales techniques push optional extras.
Gather Documentation
If you suspect your financing agreement was negotiated under dubious conditions, you should compile every essential document.
First, collect every copy of your loan or contract as it outlines every term. Moreover, gather any communications from the dealer that reference the details of your finance offer, such as emails or letters.
This also includes promotional materials that presented the product in a misleading way, as well as proof of payment. Reach out to Motoovo Finance directly if you need any document or missing details.
What Documents Do You Need?
- Original contract copy
- Dealer communications, including letters, emails, or texts
- Promotional materials that may have been misleading
- Evidence of all payments made
File a Complaint with MotoNoVo Finance
With your documents assembled, it is time to file a formal complaint. Contact MotoNovo Finance to submit your appeal. Clearly outline your case with your full name, the policy number, the agreement date, the vehicle registration details, and the address listed at that time.
Your complaint should be sent directly to MotoNovo Finance through the appropriate contact channels provided by your lender or broker. They are expected to acknowledge your submission within a reasonable period.
In most cases, a reply is issued within 8 weeks. In some instances, responses might be as early as 15 or 35 days, depending on the nature of the complaint.
Escalate the Claim if Necessary
After reviewing your MotoNovo Finance claim, the provider sends a final reply. They detail their investigation and suggest any remedies if mistakes in the sales process are detected.
If you find the reply unsatisfactory or if no answer comes within eight weeks, escalate the matter by contacting the Financial Ombudsman Service (FOS).
However, you must act within six months to bring your case before the FOS might no longer accommodate it.
To initiate your complaint with the FOS, begin by using their free online evaluation tool.
This tool probes your claim and contract details to verify that your case falls within their jurisdiction.
It outlines the necessary information you must include while confirming that your issue involves a provider of financial products or services.
The FOS handles a wide array of financial offerings, such as banking services, credit cards, loans, insurance policies, pension schemes, savings accounts, and investment products.
Moreover, the system confirms whether the business operates from within the UK, as the FOS addresses cases involving UK-based retail financial services.
Complete the Online Complaint Form
Before you begin with the form, compile all your essential documents and relevant details. Then, complete the online complaint form in one continuous session because there is no option to save progress.
The form asks for your personal data, such as your name, address, and preferred contact method. It also requires details about the business, including its name and address.
Provide a clear description of your complaint, explain what occurred and how it affected you, then upload any supporting documents that back your claim.
It is important to double-check and confirm every detail in the declaration section. If you face personal challenges, such as a serious illness, you should ensure the FOS knows about it when you submit your case.
This careful method allows you to perform every step of the complaint process. After you submit your form, the FOS reviews your case thoroughly and pinpoints the main issues.
They then instruct the business to address any unfair practices, and in some cases, you may even receive compensation for any distress or inconvenience you have experienced.
Consider Legal or Claims Management Assistance
When you decide to raise your complaint, you will notice that the service is both free and straightforward, so there is no obligation for you to secure a representative. Perhaps you can lean on a trusted family member or friend if that feels more natural.
On the other hand, some individuals opt to seek guidance from an independent egal expert or a claims management company (CMC) to confirm they have the correct information.
Contemplating litigation? Securing impartial legal advice is the best way to go. A reliable CMC can connect you with an attorney if needed, but verify that they hold the proper authorisation to handle claims.
Bear in mind that while FOS processes claims at no cost, professional services might levy fees.
Conclusion
You will be delighted to know that many consumers have successfully challenged mis-sold finance agreements such as MotoNovo mis-sold finance.
Getting back your funds is possible when you adhere to proper procedures, as it can strengthen consumer rights and contribute to fairer practices within the industry.
Recover compensation for your mis-sold contract with the help of a trusted CMC that can handle the complexities of a claims process.