The Honda Accord was commonly sold on
Personal Contract Purchase (PCP) and
Hire Purchase (HP) finance agreements during the Financial Conduct Authority’s (FCA) investigation period, which ran from 6 April 2007 to 1 November 2024. The FCA's probe into
discretionary commission arrangements in motor finance highlighted significant issues affecting millions of motorists who financed their vehicles through various lenders.
How the Honda Accord was Typically Financed
The Honda Accord is a popular choice for consumers looking for reliability and comfort, often sold with financing options that include PCP and HP agreements. During the FCA investigation period, typical finance amounts ranged from £15,000 to £30,000, with terms commonly lasting 36-48 months. The Accord was frequently financed through lenders such as
Black Horse, Barclays Partner Finance,
Close Brothers Motor Finance,
MotoNovo Finance, and
Santander Consumer Finance.
For PCP agreements, a significant portion of the total cost is paid upfront or in monthly instalments, with the remaining value (known as a balloon payment) due at the end of the agreement. This structure can be attractive to buyers looking for affordable monthly payments but who do not wish to own the vehicle outright after the term.
The FCA Motor Finance Investigation
The FCA’s investigation revealed that millions of finance agreements were affected by discretionary commission arrangements during the period from 6 April 2007 to 1 November 2024. These arrangements allowed lenders and dealerships to earn additional commissions based on the type of finance agreement chosen, often leading to higher costs for consumers.
According to the FCA’s estimates, 12.1 million eligible agreements (FCA, March 2026) impacted by these practices (FCA estimate), resulting in an average loss per consumer of £829 (FCA estimate). The total estimated cost to affected customers is £7.5 billion (FCA, March 2026).
How to Check Your Agreement Look for any mention of discretionary commissions or fees that may have been charged in addition to the standard financing charges. If your agreement includes terms like “DCA” (Discretionary Commission Agreement), it is likely affected.
Relevant dates are crucial: agreements made between 6 April 2007 and 1 November 2024 fall under the scope of the FCA’s investigation. If you suspect that your finance deal was influenced by these practices, consult your agreement carefully or contact your lender directly for clarification.
If you believe your Honda Accord finance agreement is affected by the issues identified in the FCA's investigation, you can complain directly to your lender. Common lenders such as Black Horse, Barclays Partner Finance, Close Brothers Motor Finance, MotoNovo Finance, and Santander Consumer Finance all have dedicated customer service teams that handle complaints.
You do not need a
claims management company; most lenders provide straightforward processes for resolving disputes without additional costs or fees. Ensure you gather all relevant documentation and clearly outline your concerns when contacting your lender. If necessary, seek further assistance from the
Financial Ombudsman Service (
FOS) to mediate any unresolved issues.
Sources and References
- FCA estimates on affected agreements: 12.1 million eligible agreements (FCA, March 2026), £7.5 billion (FCA, March 2026) total (FCA estimate), £829 average per eligible agreement
- Common lenders for Honda Accord finance: Black Horse, Barclays Partner Finance, Close Brothers Motor Finance, MotoNovo Finance, Santander Consumer Finance
Based on 28,072 MOT tests conducted in 2024 (source: DVSA anonymised test data), the Honda Accord has a pass rate of 73.5%. This is below the national average of 79.6%, meaning the Accord has a higher-than-average failure rate in MOT testing.
The Accord pass rate is slightly below the overall Honda average of 82.7%. The average mileage at MOT for this model is 125,967 miles.
- MOT pass rate: 73.5%
- MOT failure rate: 26.5%
- Tests analysed: 28,072 (2024 DVSA data)
- Average mileage at test: 125,967 miles
- Honda average pass rate: 82.7%
- National average pass rate: 79.6%
Data source: DVSA anonymised MOT test results 2024, published under the Open Government Licence v3.0.