MotoNovo Finance Claim: Was Your Car Finance Mis-Sold?
MotoNovo Finance is a specialist UK motor finance lender that worked with a large network of independent and franchised car dealers. Like other lenders in this space, MotoNovo used discretionary commission arrangements that may have resulted in customers paying inflated interest rates without their knowledge.
Estimated Lender Exposure
MotoNovo Finance operated extensively through independent and franchised dealers, with DCA arrangements linked to its dealer commission structure throughout the covered period.
MotoNovo Finance is within scope of the FCA investigation into discretionary commission arrangements in UK motor finance.
About MotoNovo Finance
- Parent Company
- FirstRand Group (South Africa)
- Active in Car Finance
- Specialist motor finance lender; DCA period 2007–2021
- Finance Products
- Personal Contract Purchase (PCP), Hire Purchase (HP), Used Car Finance
- UK Market Position
- Significant share of the used car finance market through independent dealers
About MotoNovo Finance
MotoNovo Finance is a dedicated motor finance lender operating in the UK, focusing primarily on the used car market. It built a large network of relationships with independent dealerships, making it one of the prominent mid-tier lenders in the UK motor finance sector. MotoNovo was particularly active in providing finance for used vehicles through non-franchised dealers — a significant segment that the FCA investigation covers alongside franchised dealer finance.
MotoNovo's Commission Arrangement
MotoNovo operated what the FCA terms a "difference in charges" commission model — a form of discretionary commission arrangement where the dealer's commission was determined by the difference between the rate MotoNovo set and the rate the customer agreed to. This incentivised dealers to negotiate the highest rate the customer would accept, rather than offering the best available rate.
- Dealers set customer interest rates within a range approved by MotoNovo
- Higher rates meant more commission for the dealer
- Customers paid the inflated rate without being told the dealer was profiting from it
- No requirement existed to disclose the commission model or the amount received
Who May Have a MotoNovo Finance Claim?
- Your car was purchased through a dealership (franchised or independent) that used MotoNovo Finance
- The agreement was for PCP or hire purchase between 2007 and 2021
- You were not told about the dealer's commission from MotoNovo
- The APR on your agreement may have been higher than your credit score warranted
How to Trace a MotoNovo Finance Agreement
- Subject Access Request to MotoNovo: Write to MotoNovo Finance requesting all personal data, including the original credit agreement, commission information, and repayment history.
- Check your credit report: Any MotoNovo finance will appear on your statutory credit file under the lender's name.
- Old statements or correspondence: Any letters or emails from MotoNovo regarding your account will confirm the agreement reference number.
Next Steps
- Complete the form below with your basic details — no paperwork needed initially.
- An FCA-authorised claims specialist will confirm whether your MotoNovo agreement is within scope.
- Your specialist will gather the required documents and submit your claim on your behalf.
- Compensation is paid to you if the claim succeeds. No win, no fee.
Frequently Asked Questions
Is MotoNovo Finance part of the FCA car finance investigation? +
Who owns MotoNovo Finance? +
What if MotoNovo Finance has changed its name or closed my account? +
How do I prove I had MotoNovo Finance? +
Check If You Have a MotoNovo Finance Claim
Complete the form below and an authorised claims specialist will review your case.