Finance Explained

Honda Financial Services

How to contact us

COMMISSION COMPLAINTS

On 11th January 2024, the Financial Conduct Authority (FCA) announced they would be reviewing historic commission paid to retailers on motor finance agreements, specifically discretionary commission arrangements (DCA).

Discretionary commission arrangements were arrangements between lenders and brokers which allowed the broker to adjust the interest rates offered to customers and was banned by the FCA in 2021.

The announcement on 11th January outlined the following:

  • The 8-week timeframe for businesses to send a final response letter has been extended by an additional 37 weeks and therefore a response to certain complaints may not be received before 25th September 2024
  • Consumers will have up to 15 months to refer their complaint to the Financial Ombudsman Service, instead of the usual 6 months. This extension also applies to relevant complaints where a final response was issued between 12 July 2023 and 10 January 2024 and for any new discretionary commission complaints received thereafter

On 24th September 2024 the FCA provided a further update to advise:

  • The investigation to review historic commission models is continuing and the timeframe businesses have to respond to certain car finance complaints, has been extended from 25th September 2024 until after 4th December 2025
  • The FCA also confirmed consumers will have until 29th July 2026 or 15 months from the date of their final response letter from the firm, to refer their DCA complaint to the Financial Ombudsman (instead of the usual 6 months).

Please note these extensions are only for commission complaints relating to discretionary commission. Honda Financial Servies will investigate all commission complaints received to confirm whether discretionary commission was applicable. For further information from the FCA please visit here.

If you wish to make an enquiry and complaint on commission, please use the below methods to do so. We aim to answer all calls as quickly as possible.

Tel: 0345 128 8908

Email: hfe.customerservice@honda-eu.com

Post:
Honda Financial Services Plc
Cain Road
Bracknell
RG12 1HL

Our complaints procedure can be found here for further information and timelines. In the event you are not responded to within the regulatory timelines or remain unsatisfied, you can ask the Financial Ombudsman Service to review your complaint.

The Financial Ombudsman Service can be contacted at Exchange Tower, London, E14 9SR or by telephone at 08000 234 567 or at www.financial-ombudsman.org.uk.

CUSTOMER SUPPORT

Please contact Customer Support to discuss:

  • Requesting a settlement figure
  • Updating address and contact details
  • Changing payment dates
  • General Queries

Tel: 0345 128 8908

Email: hfe.customerservice@honda-eu.com

Opening Hours:

Monday to Saturday from 09:00 to 17:00 (closed bank holidays)

COLLECTIONS AND RECOVERIES

Please contact our Collections and Recoveries department to discuss:

  • Handing your vehicle back
  • Making a payment
  • Financial difficulties

Tel: 0345 128 8909

Email: hfe.collections@honda-eu.com

Opening Hours:

Monday to Friday 09:00 to 17:00 (Closed Bank Holidays) 

Alternatively use our contact form

COMPLAINTS

If you have a complaint, please contact us on:

Tel: 0345 128 8908

Email: hfe.customerservice@honda-eu.com

Post:
Honda Financial Services Plc
Cain Road
Bracknell
RG12 1HL

Our complaints procedure can be found here for further information and timelines. In the event you are not responded to within the regulatory timelines or remain unsatisfied, you can ask the Financial Ombudsman Service to review your complaint.

The Financial Ombudsman Service can be contacted at Exchange Tower, London, E14 9SR or by telephone at 08000 234 567 or at www.financial-ombudsman.org.uk.

COMPLAINTS PUBLICATION REPORT

Firm name: Honda Financial Services

Period covered in this report: 1 January – 30 June 2024

 

Number of complaints opened by volume of business

  
Product / service grouping Provision (at reporting period end date) Intermediation (within the reporting period) Number of complaints opened Number of complaints closed Percentage closed within 3 days Percentage closed after 3 days but within  8 weeks Percentage upheld Main cause of complaints opened
Banking and credit cards N/A N/A N/A N/A N/A N/A N/A N/A
Home finance N/A N/A N/A N/A N/A N/A N/A N/A
Insurance and pure protection N/A N/A N/A N/A N/A N/A N/A N/A
Decumulation and pensions N/A N/A N/A N/A N/A N/A N/A N/A
Investments N/A N/A N/A N/A N/A N/A N/A N/A
Credit related N/A N/A 7184 328 N/A N/A 19.8% Discretionary Commission Arrangements

FINANCIAL DIFFICULTIES

Honda Financial Services are keen to provide support to customers who are experiencing financial difficulties. If you are struggling with your finances, please contact Customer Support on:

Tel: 0345 128 8909

Email: hfe.customerservice@honda-eu.com

Free and impartial advice is available to you from the following organisations: