Discretionary commission arrangements

You may be looking here because you have a question about the commission that was paid when you took out a hire purchase agreement.

As you may know, in 2021 the Financial Conduct Authority (FCA) banned so-called “discretionary commission arrangements”.  The FCA is now reviewing historical motor finance commission arrangements and sales across a number of firms.

The FCA has also put in place special arrangements for handling complaints about motor finance agreements where there was a discretionary commission arrangement between the lender and the broker.

There’s more information on the FCA’s website here.

Your agreement with us is not affected by any of this, as Automoney has never entered into discretionary commission arrangements with anyone referring business to us.