The Hyundai i20 N, a sporty variant of the popular Hyundai i20 hatchback, was commonly sold on
Personal Contract Purchase (PCP) and
Hire Purchase (HP) finance agreements during the period covered by the Financial Conduct Authority's (FCA) motor finance investigation from 6 April 2007 to 1 November 2024. With its sporty design and impressive performance capabilities, the Hyundai i20 N was a favourite among enthusiasts looking for an affordable yet dynamic driving experience. However, this period also saw many consumers being sold these vehicles under potentially unfair finance agreements.
How the Hyundai i20 N was Typically Financed
The Hyundai i20 N was typically financed through Personal Contract Purchase (PCP) or Hire Purchase (HP) agreements, with a typical finance amount ranging between £15,000 and £30,000. These agreements were often structured over 36 to 48 months, providing consumers with flexible payment options while retaining ownership until the end of the term. Common lenders that provided finance for the Hyundai i20 N during this period included
Black Horse, Barclays Partner Finance,
Close Brothers Motor Finance,
MotoNovo Finance, and
Santander Consumer Finance.
Under PCP agreements, a significant aspect to consider is the balloon payment or Guaranteed Minimum Future Value (GMFV). This final payment can be substantial, often representing a large portion of the car's value at the end of the contract term. Consumers should carefully review their agreement to understand the total cost and any potential risks associated with this type of finance.
The FCA Motor Finance Investigation
The FCA investigation uncovered significant issues within the motor finance sector during the period from 6 April 2007 to 1 November 2024, particularly focusing on
discretionary commission arrangements. These arrangements allowed dealerships to earn additional fees based on the type of finance agreement chosen by consumers, often leading to higher costs for buyers and fewer transparent options.
The investigation found that over 12.1 million eligible agreements (FCA, March 2026) were affected across various car brands, including Hyundai models like the i20 N. The total amount involved in these unfair arrangements was estimated at £7.5 billion (FCA, March 2026), with individual consumers typically facing an average additional cost of around £829 (FCA estimate).
How to Check Your Agreement Look for any references to discretionary commissions or fees that may not have been clearly disclosed at the time of sale. The relevant dates to consider are from 6 April 2007 to 1 November 2024.
One key indicator is the presence of "Discretionary
Commission Arrangement" (DCA) in your finance agreement. If you find this term, it suggests that additional fees were likely charged based on discretionary commissions rather than transparent pricing structures.
If you believe your Hyundai i20 N was sold under a potentially unfair finance agreement due to the FCA investigation findings, you can complain directly to your lender without needing to engage with a
claims management company. Common lenders associated with the Hyundai i20 N include Black Horse, Barclays Partner Finance, Close Brothers Motor Finance, MotoNovo Finance, and Santander Consumer Finance.
When submitting a complaint, it is important to provide detailed information about your agreement, including dates of purchase, any relevant documentation, and specifics regarding discretionary commissions or additional fees. You do not need a claims management company to handle this process; you can complain directly for free by contacting the lender’s customer service department through their official website or by phone.
Sources and References
- Financial Conduct Authority (FCA), 2024
- Office for National Statistics Census, 2021
Based on 122,160 MOT tests conducted in 2024 (source: DVSA anonymised test data), the Hyundai I20 has a pass rate of 81.0%. This is close to the national average of 79.6%, meaning the I20 performs about average in MOT testing.
The I20 pass rate is in line with the overall Hyundai average of 81.4%. The average mileage at MOT for this model is 61,579 miles.
- MOT pass rate: 81.0%
- MOT failure rate: 19.0%
- Tests analysed: 122,160 (2024 DVSA data)
- Average mileage at test: 61,579 miles
- Hyundai average pass rate: 81.4%
- National average pass rate: 79.6%
Data source: DVSA anonymised MOT test results 2024, published under the Open Government Licence v3.0.