Hyundai car finance in Devon has been affected by mis-selling practices between 6 April 2007 and 1 November 2024, potentially impacting thousands of residents who financed their cars through Personal Contract Purchase (PCP) or Hire Purchase (HP) agreements. According to the Office for National Statistics (ONS) Census 2021, Devon's population is approximately 812,000, with an estimated 76,734 residents potentially affected by these mis-selling issues.
Hyundai Car Finance in Devon
Local residents commonly financed their Hyundai cars through various lenders, including major banks and specialist finance companies. Many chose PCP due to its flexibility and the option to walk away from a contract after paying off the depreciation of the car or at the end of the agreement. HP, on the other hand, is often favoured for its simplicity as it allows buyers to pay off the full price of the vehicle over time with interest.
How Devon Residents Can Check Their Hyundai Finance Agreement
Devon residents who financed their Hyundai cars should review their finance agreements carefully to understand if they were affected by mis-selling practices. Key points to look for include:
- Interest Rates: Ensure that the advertised rate matches what was agreed upon in your contract.
- Discretionary Commission Arrangement (DCA): Be aware of any additional charges or fees, such as DCA, which are not clearly explained in the agreement terms.
- Key Dates: Note when the finance agreement started and ended. The FCA’s investigation period covers agreements from 6 April 2007 to 1 November 2024.
Complaining to Your Lender for Free
Devon residents who suspect they were affected by mis-selling practices can complain directly to their lender at no cost. Here's how:
- Gather Evidence: Collect all relevant documents, including your finance agreement and any correspondence with the lender.
- Contact Your Lender: Reach out to your lender’s customer service department in writing or through an email outlining your concerns.
- Follow Up: If you do not receive a response within 8 weeks, escalate the complaint to the Financial Ombudsman Service (FOS).
It is important to note that you can complain directly to your lender for free and do not need a claims management company. According to FCA estimates, £7.5 billion (FCA, March 2026) has been mis-sold through car finance agreements from April 2007 to November 2024, affecting 12.1 million eligible agreements (FCA, March 2026) with an FCA-estimated average of £829 per eligible agreement.
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 compensation
- Motor Finance Industry Figures (FCA, 2024)
By taking these steps, Devon residents can seek fair treatment from their lenders without incurring additional costs or relying on claims management companies.
Hyundai Finance Claims in Devon
With a population of approximately 800,000, an estimated 167,164 motor finance agreements in Devon 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).
Hyundai Safety Recalls
Hyundai has had 132 safety recalls across 58 models, according to the DVSA Vehicle Safety Branch. The most recalled models are: Santa Fe (18 recalls), I30 (10 recalls), Sonata (6 recalls), Tucson (6 recalls), Tucson Nx4E (6 recalls). Check if your Hyundai has an outstanding recall.