Have you ever wondered if your Hyundai car purchased on PCP or HP finance in the East Midlands might be affected by motor finance mis-selling? Between 6 April 2007 and 1 November 2024, an estimated 12.1 million eligible agreements (FCA, March 2026) across the UK could have been impacted (FCA estimate), potentially affecting up to 461,160 residents in the East Midlands alone.
Hyundai Car Finance in East Midlands
Hyundai car finance is a popular choice for many drivers in the East Midlands. Residents often opt for
Personal Contract Purchase (PCP) or
Hire Purchase (HP) agreements from major lenders such as Santander and Lloyds Bank, which are commonly used to finance new and used Hyundai vehicles. The decision to choose PCP or HP largely depends on individual financial circumstances and the specific terms offered by lenders.
How East Midlands Residents Can Check Their Hyundai Finance Agreement
East Midlands residents who financed their Hyundai cars should review their finance agreements carefully. Key aspects to look for include any discrepancies in the total cost of credit, early repayment penalties, and whether there was a
discretionary commission arrangement (DCA) involved. DCA is often linked with mis-selling issues as it can result in higher fees for consumers without clear disclosure from lenders.
Residents should also pay attention to the dates mentioned in their finance agreements. The FCA review period covers agreements made between 6 April 2007 and 1 November 2024, so checking if your agreement falls within this timeframe is crucial. If you notice any irregularities or uncertainties about the terms of your financing, it’s important to seek further clarification from your lender.
Complaining to Your Lender for Free
East Midlands residents who suspect that their Hyundai car finance agreement may have been mis-sold can
complain directly to their lender at no cost. This process involves gathering all relevant documentation and presenting a clear case as to why you believe there was an issue with the sale of your finance agreement.
You do not need a claims management company (CMC) to handle this for you; many people successfully resolve these issues by communicating directly with their lenders. The Financial Ombudsman Service (FOS) is another option if your complaint remains unresolved after direct contact with your lender. Remember, the FCA estimates that affected agreements could amount to £7.5 billion (FCA, March 2026) in total mis-selling across the UK (£829 average per eligible agreement per agreement), making it worthwhile to investigate any potential issues thoroughly.
Sources and References
- Financial Conduct Authority (FCA) estimate of 12.1 million eligible agreements (FCA, March 2026) potentially affected by motor finance mis-selling (6 April 2007 to 1 November 2024)
- Office for National Statistics (ONS) Census data, East Midlands population: approximately 4.88 million people in 2021
- Financial Conduct Authority (FCA) estimate of £7.5 billion (FCA, March 2026) total mis-selling and £829 average per eligible agreement per agreement
Hyundai Finance Claims in East Midlands
With a population of approximately 4,900,000, an estimated 1,023,880 motor finance agreements in East Midlands 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.