The Harley-Davidson Low Rider S was commonly sold on Personal Contract Purchase (PCP) and Hire Purchase (HP) finance agreements during the period under investigation by the Financial Conduct Authority (FCA), from 6 April 2007 to 1 November 2024. This iconic motorcycle, known for its distinctive styling and powerful performance, was frequently financed through a variety of lenders, including Black Horse, Close Brothers Motor Finance, MotoNovo Finance, and Moneybarn.
How the Harley-Davidson Low Rider S Was Typically Financed
Motorcycle enthusiasts often finance their dream bikes like the Harley-Davidson Low Rider S through PCP or HP agreements. For the Low Rider S, typical financing arrangements ranged from £5,000 to £15,000 over terms of 36 to 48 months. These loans were commonly provided by major lenders such as Black Horse, Close Brothers Motor Finance, MotoNovo Finance, and Moneybarn.
In PCP agreements, the borrower pays a deposit upfront and makes monthly payments with a significant balloon payment at the end of the term. This final payment represents the equity in the bike, which can be paid off to own it outright or returned to the lender if the customer chooses not to keep the motorcycle. HP contracts, on the other hand, involve paying off the full cost of the vehicle over the agreed period with no balloon payment at the end.
The FCA Motor Finance Investigation
The Financial Conduct Authority (FCA) launched a significant investigation into motor finance agreements during the specified period, focusing on discretionary commission arrangements that may have been used to incentivise lenders and retailers. This practice could potentially lead to higher costs for consumers without clear disclosure or justification. According to the FCA’s estimates, these practices affected 12.1 million eligible agreements (FCA, March 2026), with a total cost of £7.5 billion (FCA, March 2026). On average, each consumer was overcharged by about £829 (FCA estimate).
How to Check Your Agreement Look specifically for any mention of "Discretionary Commission Arrangements" or "DCA." These terms indicate that your lender may have received extra commissions beyond standard fees, which could affect the total cost of your finance agreement.
It’s important to note that if your agreement was signed during the period from 6 April 2007 to 1 November 2024 and includes DCA language or similar provisions, you should consider reviewing it for potential mis-selling issues. The FCA has provided guidance on what to look for in these agreements, including specific dates and terms that may indicate a problematic arrangement.
If you suspect your Harley-Davidson Low Rider S finance agreement was affected by the practices investigated by the FCA, it is important to contact your lender directly without engaging any claims management company. Common lenders such as Black Horse, Close Brothers Motor Finance, MotoNovo Finance, and Moneybarn have dedicated customer service teams that can address your concerns.
When contacting your lender, be prepared to provide details from your finance agreement and any evidence you believe supports your case. Lenders are required by law to handle complaints fairly and efficiently without charging fees for this process. You do not need a claims management company; instead, you can complain directly to the lender or use the Financial Ombudsman Service (FOS) if necessary.
Sources and References
- Financial Conduct Authority (FCA). "Motor Finance Investigation." 2024.
- Financial Ombudsman Service (FOS). "Guidance for Motor Finance Complaints."
- Harley-Davidson UK. "Finance Options for the Low Rider S."
- Black Horse, Close Brothers Motor Finance, MotoNovo Finance, Moneybarn. "Customer Service Information."