If you have had a car finance agreement through Hitachi Capital or, more recently, Novuna, you could have been mis-sold.
- Find out if you are owed money for free.
- No obligation to proceed with your claim
- This could include vans or other commercial vehicles.
- Even if you have missed payments or arrears, this is not a problem.
If your car dealer has awarded themselves a “discretionary commission” without your knowledge, you could be able to get the money back. Please complete the form below.
Hitachi Capital History
Hitachi Capital (UK) PLC was established in 1982 as a financial services subsidiary of the Japanese multinational conglomerate Hitachi Ltd. The company initially focused on providing finance and leasing solutions to businesses in the UK. Over the years, Hitachi expanded its offerings to include various consumer and business finance products, including personal loans, vehicle finance, and retail finance.
In the 2000s, Hitachi strengthened its presence in the UK by broadening its services to consumer finance, particularly in the car finance sector. The company became a key player in providing car loans, hire purchases and personal contract purchase (PCP) agreements. Hitachi Capital was known for its customer-centric approach and innovative financial products, which helped it establish a strong reputation in the UK market.
In the early 2020s, HitachiCapital (UK) underwent a significant rebranding and transformation when it merged with Mitsubishi UFJ Lease & Finance Company Limited (MUL), a major Japanese financial services provider. This merger led to Novuna, a new brand encompassing the combined operations of Hitachi Capital and MUL in the UK. The rebranding aimed to unify the company’s offerings under a single, modern brand identity while continuing to provide comprehensive financial solutions to consumers and businesses alike.
Today, Novuna (formerly HitachiCapital) remains a prominent financial services provider in the UK, offering a wide range of products, including personal loans, car finance, business finance, and retail finance, with a continued commitment to innovation and customer service.
Novuna, the new brand
In 2021, Hitachi Capital (UK) PLC underwent a significant rebranding as it transitioned to the new name Novuna. This change followed the merger of Hitachi Capital with Mitsubishi UFJ Lease & Finance Company Limited (MUL), creating a unified brand identity under Novuna.
The rebranding reflects the company’s evolution and commitment to innovation while continuing to offer a comprehensive range of financial services, including personal loans, car finance, and business finance. Novuna aims to build on HitachiCapital’s strong reputation in the UK, providing enhanced services and maintaining a customer-centric approach.
Hitachi Capital Car Finance Discretionary Commission
Hitachi Capital Car Finance’s discretionary commission refers to the practice where car dealers could receive varying commission levels for arranging finance agreements through Hitachi Capital. This commission was often not disclosed to the customer, meaning they might not have been aware that their interest rates or finance terms could have been influenced by the amount of commission paid to the dealer.
This practice has been scrutinized, as it could lead to customers paying more for their car finance than necessary. Concerns over transparency and fairness have led to increased awareness and claims for refunds or compensation where customers believe they were mis-sold finance agreements due to undisclosed discretionary commissions.
Loans Hitachi Capital Car Finance Claim
The Hitachi Capital Car Finance claim process involves customers seeking refunds or compensation if they believe they were mis-sold a car finance agreement, mainly due to undisclosed discretionary commissions. The process typically starts with reviewing the terms of the car finance agreement to identify any discrepancies or undisclosed commissions that may have led to higher costs.
Once potential mis-selling is identified, the customer can initiate a claim by contacting HitachiCapital directly or through a claims management company. The claimant must provide details about the car finance agreement, including the original contract, payment history, and any communication with the dealer or finance provider.
Hitachi Capital will then assess the claim, reviewing the evidence to determine whether the customer mis-sold the finance agreement. If the claim is upheld, the customer may receive a refund of overpaid interest, compensation for any financial losses, or a reduction in the remaining balance of the finance agreement.
Throughout the process, clear communication and documentation are key, and customers may be required to provide additional information to support their claims. Depending on the complexity of the case and the amount of evidence supplied, the claims process can take several weeks to months.
Hitachi Capital Car Finance Mis-Sold
Hitachi Capital Car Finance may have been mis-sold to some customers if they were not fully informed about certain aspects of their finance agreements, particularly the inclusion of discretionary commissions. Mis-selling occurs when a customer is sold a financial product unsuitable for their needs or when crucial information, such as how commission payments to car dealers might influence the interest rates or terms, is withheld.
In the case of Hitachi Capital Car Finance, if a customer was unaware that the dealer arranging their finance could earn a higher commission by offering them a deal with less favourable terms, this could constitute mis-selling. As a result, the customer might have ended up paying more for their car finance than necessary.
Customers who suspect they were mis-sold their car finance by Hitachi Capital—perhaps due to undisclosed commissions, unclear terms, or pressure to agree to a deal—might be eligible to claim a refund or compensation. This has led many to review their agreements and seek legal advice or assistance from claims management companies to determine if they were victims of mis-selling.
Hitachi Capital Car Finance Compensation
The likelihood of receiving compensation from Novuna Car Finance depends on several factors, primarily whether you can demonstrate that your finance agreement was mis-sold. Compensation is more likely if there is clear evidence that you were not fully informed about key aspects of your car finance deal, such as the inclusion of a discretionary commission paid to the dealer, which may have resulted in higher costs for you.
If your finance agreement was influenced by an undisclosed commission that led to unfavourable terms, or if the terms and costs were not adequately explained, you might have a strong compensation case. The process typically involves reviewing your contract, assessing the fairness of the terms, and determining whether the commission was disclosed.
Customers who successfully prove that Hitachi Capital mis-sold their car finance could receive compensation in the form of a refund of overpaid interest, a reduction in the remaining balance of their finance agreement, or a direct payment to cover financial losses. However, each case is unique, and the outcome depends on the specific details and evidence provided.
Many customers who believe they were mis-sold are encouraged to seek legal advice or work with claims management companies specialising in financial mis-selling cases. These professionals can help assess the strength of your claim and guide you through the process to improve the chances of a successful outcome.
Hitachi Capital Car Finance Refund likely timescales
The timescale for receiving a refund from Hitachi Capital Car Finance can vary depending on the complexity of the claim and the amount of evidence provided. On average, the process can take several weeks to months from when the claim is submitted.
The claims process initially involves gathering and submitting all relevant documentation, such as the car finance agreement, payment records, and any correspondence with the dealer or Hitachi Capital. Once the claim is submitted, Hitachi Capital will review the evidence to assess whether the car finance was missold, particularly in cases involving undisclosed discretionary commissions.
Suppose HitachiCapital finds it in your favour. In that case, they will calculate the refund amount, which may include overpaid interest, compensation for any financial losses, or a reduction in the outstanding balance of the finance agreement. After the decision is made, the refund is usually processed within a few weeks, though it may take longer, depending on the specifics of the case and administrative procedures.
Clear communication and patience are essential throughout the process. Customers are encouraged to follow up regularly on the status of their claim to ensure it is progressing as expected. While the timescale can vary, being thorough in your submission and responsive to requests for additional information can help expedite the process.
Hitachi Capital Car Finance Mis Selling – my Hitachi finance
The costs to Hitachi or Novuna resulting from car finance mis-selling can be significant financially and reputationally. Financially, if numerous customers successfully claim that they were mis-sold car finance agreements, mainly due to undisclosed discretionary commissions, Hitachi Capital could face substantial compensation payouts. These payouts might include refunds of overpaid interest, direct compensation for financial losses, and reductions in the remaining balances of affected finance agreements.
Beyond direct financial compensation, the business could incur additional costs related to legal fees, administrative expenses, and the resources needed to handle a potentially large volume of claims. Furthermore, if regulatory bodies like the Financial Conduct Authority (FCA) become involved, Hitachi Capital Loans could face fines or other penalties if found to have breached industry regulations.
The reputational damage could also lead to long-term costs. Negative publicity surrounding mis-selling practices might deter potential customers, reduce customer loyalty, and harm the company’s standing in the market. This could result in a decline in new business, impacting future revenue streams.
Overall, the costs of car finance mis-selling to Hitachi could extend well beyond immediate financial payouts, affecting the company’s long-term profitability and market position. The business might also need to invest in compliance improvements and customer trust restoration efforts to mitigate the impact of mis-selling claims.
The rates offered with a Hitachi car loan were still competitive then; they were mis-sold.
Customer Reviews of Concise Finance Claims Services for Novuna
Emily White from Manchester: I recently had an issue with my Hitachi Capital car finance and contacted Concise Finance for help. They informed me that my car finance agreement included a discretionary commission that was never disclosed. Thanks to their guidance, I could file a claim and receive a substantial refund. The customer service team was fantastic, providing me with all the necessary contact details and assisting me throughout the process. If you have concerns about your Hitachi car finance, I highly recommend contacting Concise Finance.
James Brown from Birmingham: I had no idea that my Novuna car finance agreement was mis-sold until I spoke with Concise Finance. They explained how the discretionary commission worked and how it affected my payments. With their help, I filed a claim and was awarded compensation for the mis-selling. Their customer services team was always available to answer my questions and provided excellent support. If you suspect your Hitachi Capital or Novuna car finance was mis-sold, I recommend contacting them.
Sarah Johnson from London: Concise Finance helped me get a refund on my Novuna car finance after they discovered that it had been mis-sold to me. The discretionary commission was never disclosed, and I was completely unaware of it until Concise Finance explained everything. They guided me through the entire claims process, and their claims check calculator was incredibly useful. The compensation I received was more than I expected, and their customer services team was always helpful. I would highly recommend them for any issues with Hitachi Capital car finance.
Michael Davis from Glasgow: After reading about the possibility of Hitachi Capital car finance mis-selling, I decided to have my agreement checked by Concise Finance. They confirmed that I had been mis-sold due to an undisclosed discretionary commission and helped me file a claim. The process was straightforward, and I was awarded a significant refund. Their customer services department was exceptional, always ready to provide contact details and answer any questions. I highly recommend their services if you think you might have a claim against Hitachi or Novuna.
Emma Taylor from Leeds: Concise Finance was fantastic in helping me with my Hitachi Cap car finance claim. They identified that I had been mis-sold the finance due to a hidden discretionary commission, and they took care of everything. My compensation exceeded my expectations, and their claims check calculator was a great tool to estimate my potential refund. Their customer service team was always available for queries and provided excellent support. If you have concerns about your Hitachi or Novuna car finance, don’t hesitate to contact Concise Finance.
Black Horse car finance claim – Hitachi finance loans
Similar to Novuna, Black Horse mis-sold car finance also features as a lender that could involve a claims process
Car Finance Barclays VS Hitachi Capital (UK) plc
Not as big as Novuna, Car loans Barclays may also involve claims from people dissatisfied with the interest rates they were offered.
Hitachi Capital contact number: 0344 375 5500
Novuna is a trading style of Mitsubishi HC Capital UK PLC, which is authorised and regulated by the Financial Conduct Authority.
Financial Services Register no. 704348.Registered Office: Novuna House, Thorpe Road, Staines-upon-Thames, Surrey, TW18 3HP.
Registered in Cardiff under company no. 1630491.