The Chrysler Ypsilon was commonly sold on
Personal Contract Purchase (PCP) and
Hire Purchase (HP) finance agreements during the Financial Conduct Authority's (FCA) investigation period from 6 April 2007 to 1 November 2024. Many customers who financed their Chrysler Yipsis through these agreements may have been affected by motor finance mis-selling practices, which could entitle them to compensation.
How the Chrysler Ypsilon was Typically Financed
Chrysler Yipsis were often sold on PCP and HP finance plans with typical loan amounts ranging from £15,000 to £30,000. Common lenders providing financing for these vehicles included
Black Horse, Barclays Partner Finance,
Close Brothers Motor Finance,
MotoNovo Finance, and
Santander Consumer Finance.
In a typical PCP agreement, the loan term usually lasted 36 to 48 months with a balloon payment due at the end of the contract if the customer chose to buy or return the car. This structure allowed customers to manage monthly payments while deferring the final cost until later.
The FCA Motor Finance Investigation
The FCA's investigation uncovered widespread mis-selling practices involving
discretionary commission arrangements (DCAs) during the period in question. These arrangements involved lenders paying sales commissions based on loan application volume, which could incentivize dealers to push customers into more expensive finance deals rather than focusing on the best options for them.
According to the FCA’s estimates, 12.1 million eligible agreements (FCA, March 2026) by these practices (FCA estimate), leading to a total of £7.5 billion (FCA, March 2026) in mis-sold loans (FCA estimate). On average, customers may have been overcharged by approximately £829 per agreement (FCA estimate).
How to Check Your Agreement Key things to check include:
1.
Relevant Dates: Ensure that your loan agreement falls within the FCA investigation period from 6 April 2007 to 1 November 2024.
2.
Discretionary Commission Arrangement (DCA): Look for any mention of DCAs or similar terms in your finance documentation.
If you suspect your agreement was mis-sold, it is important to review the details carefully and seek advice from a legal professional if necessary.
You do not need a
claims management company to handle your complaint. Common lenders such as Black Horse, Barclays Partner Finance, Close Brothers Motor Finance, MotoNovo Finance, and Santander Consumer Finance all have processes in place for handling customer complaints directly and free of charge.
To start the process:
1.
Gather Documentation: Collect all relevant documents related to your finance agreement.
2.
Contact Lender: Reach out to your lender’s customer service department either by phone or email.
3.
Submit Formal Complaint: Fill out any necessary complaint forms provided by your lender and submit them along with supporting documentation.
Lenders are required to respond within a set timeframe and provide you with a resolution based on their review of the evidence.
Sources and References
- Financial Conduct Authority (FCA), 2024
- Office for National Statistics (ONS) Census, 2021
Based on 5,476 MOT tests conducted in 2024 (source: DVSA anonymised test data), the Chrysler Ypsilon has a pass rate of 73.8%. This is below the national average of 79.6%, meaning the Ypsilon has a higher-than-average failure rate in MOT testing.
The Ypsilon pass rate is in line with the overall Chrysler average of 72.7%. The average mileage at MOT for this model is 63,460 miles.
- MOT pass rate: 73.8%
- MOT failure rate: 26.2%
- Tests analysed: 5,476 (2024 DVSA data)
- Average mileage at test: 63,460 miles
- Chrysler average pass rate: 72.7%
- National average pass rate: 79.6%
Data source: DVSA anonymised MOT test results 2024, published under the Open Government Licence v3.0.