The number of complaints about motor finance products has grown in the second quarter of this year, according to the Motor Ombudsman.
Across all sectors, the level of contacts handled by the Motor Ombudsman’s legal adjudicators increased by 13% between Q1 and Q2, to reach 9,700 inquiries.
The Motor Ombudsman said concerns relating to vehicle sales were the largest in the first half of 2017, and increased by 21% between January and March, with more than 10% relating to motor finance.
Those who raised concerns about motor finance said that they felt they had not been given sufficient information to make an educated decision about purchasing a finance product.
These revelations follow reports by the Financial Ombudsman Service in June which reported an increase in PCP complaints in 2016. In Q2, the Motor Ombudsman saw approximately 9,700 contacts related to its codes of practice.
The Motor Ombudsman said while the volume of contacts had increased, the quantity of cases being opened fell by 11% in Q2, compared with Q1. The body attributed this to its adjudication service encouraging consumers and businesses to resolve disputes before a formal procedure.
Holly McAllister, head of customer service and quality at the Motor Ombudsman, said: “Since the beginning of 2017, the vehicle sales code has clearly stood out in terms of the nature of contacts that our adjudication team has worked on.
“Although we have seen even greater demands placed on our alternative dispute resolution service, it is nevertheless encouraging to see at the same time, the great efforts that all parties are going to in order to resolve disputes without the need for a case to be raised.”