According to recent estimates, approximately 876,771 residents in the South East may be affected by car finance mis-selling that occurred between 6 April 2007 and 1 November 2024 (FCA estimate). This issue affects those who financed their Honda cars through Personal Contract Purchase (PCP) or Hire Purchase (HP) agreements. The South East, with a population of approximately 9,278,000 (ONS Census 2021), has seen widespread use of car finance for purchasing vehicles from brands like Honda.
Honda Car Finance in the South East
Local residents commonly financed their Honda cars through PCP or HP agreements. These financing methods allowed buyers to make monthly payments over a specified period while retaining ownership until the final payment was made (or opting to return the vehicle). Common lenders within the region included major banks and finance companies, such as Barclays and Lloyds Bank. Many dealerships also offered in-house financing options directly through Honda Finance or other third-party providers.
How South East Residents Can Check Their Honda Finance Agreement
South East residents who purchased a Honda car on car finance should review their agreement for any discrepancies that may indicate mis-selling. Key dates to look for include the start and end dates of the finance contract, as well as any early settlement charges or penalties (FCA estimate). Additionally, residents should check if they were involved in a
discretionary commission arrangement (DCA) where dealers received additional payments based on sales volume, which could have influenced their decision-making process.
Complaining to Your Lender for Free
If you suspect that your Honda car finance agreement was mis-sold, it is important to know that you can
complain directly to your lender for free. Here’s a step-by-step guide:
- Gather Documentation: Collect all relevant documents related to your car finance agreement, including the original contract and any correspondence with the lender.
- Review Terms and Conditions: Carefully read through your finance agreement to understand the terms and conditions of your loan.
- Contact Your Lender: Reach out to your lender directly to explain your concerns and request a review. Provide them with all relevant documentation and evidence that supports your claim.
- Follow Up: If you do not receive a response within the expected timeframe, follow up via email or phone until you get an answer.
It is crucial to remember that you do not need a claims management company (CMC) to handle your case. The [Financial Ombudsman](https://mlj.org.uk/guides/financial-ombudsman-service) Service (FOS) can also provide assistance if your complaint is unresolved after following these steps. Residents should be aware of the potential for mis-selling and take proactive measures to address any issues.
Sources and References
- Office for National Statistics (ONS), Census 2021
- Financial Conduct Authority (FCA) estimates: 12.1 million eligible agreements (FCA, March 2026), £7.5 billion (FCA, March 2026) total, £829 average per eligible agreement
- Motor Finance Association figures
Honda Finance Claims in South East
With a population of approximately 9,300,000, an estimated 1,943,283 motor finance agreements in South East may have been affected by discretionary commission arrangements (FCA estimate). Eligible motor finance agreements run from 6 April 2007 to 1 November 2024 (FCA, March 2026).