Hyundai NEXO Motor Finance - Owner Information | MLJ.org.uk

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Hyundai NEXO Motor Finance - Owner Information | MLJ.org.uk

Last updated: 27 February 2026

The Hyundai NEXO 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) investigation into motor finance mis-selling, which spans from 6 April 2007 to 1 November 2024. This investigation has shed light on widespread issues within the motor finance industry that affected millions of consumers across the UK.

How the Hyundai NEXO was Typically Financed

The Hyundai NEXO, a fuel cell electric vehicle (FCEV), was often financed through Personal Contract Purchase (PCP) agreements or Hire Purchase (HP) plans. Typical PCP terms for the NEXO ranged from £15,000 to £30,000 over a period of 36 to 48 months. Popular lenders that provided finance for the Hyundai NEXO included Black Horse, Barclays Partner Finance, Close Brothers Motor Finance, MotoNovo Finance, and Santander Consumer Finance.

In PCP agreements, there was often a balloon payment due at the end of the term, representing a significant portion of the car's value if the buyer chose to purchase it outright. This arrangement can be complex and requires careful consideration of all financial implications before committing.

The FCA Motor Finance Investigation

The Financial Conduct Authority (FCA) launched an extensive investigation into motor finance agreements, focusing on discretionary commission arrangements that were common in the industry from 6 April 2007 to 1 November 2024. This period saw the issuance of 12.1 million eligible agreements (FCA estimate), with a total mis-selling amounting to £7.5 billion (FCA, March 2026). On average, each consumer lost around £829 (FCA estimate) due to these practices.

Discretionary commission arrangements allowed dealers and brokers to receive additional commissions from lenders if they sold certain finance products over others. This led to a conflict of interest where the interests of the dealer might not align with those of the customer, potentially leading to the sale of more expensive or unsuitable finance agreements.

How to Check Your Agreement Look for evidence that a discretionary commission arrangement was involved in arranging your finance deal. This can be indicated by specific wording such as "Discretionary Commission Arrangement" (DCA) within the agreement documentation.

consider the dates of your agreement to see if it falls within the FCA investigation period from 6 April 2007 to 1 November 2024. If you suspect that your finance deal might have been mis-sold due to a DCA, you should gather all relevant documents and prepare to file a complaint with your lender.

How to Complain Directly to Your Lender for Free

If you believe that your Hyundai NEXO's motor finance agreement was mis-sold during the FCA investigation period, you can complain directly to your lender at no cost. Common lenders for Hyundai vehicles include Black Horse, Barclays Partner Finance, Close Brothers Motor Finance, MotoNovo Finance, and Santander Consumer Finance.

Your complaint should be detailed and supported by any evidence that suggests a discretionary commission arrangement influenced the finance deal. You do not need a claims management company to handle your case; you can manage it yourself through direct communication with your lender's customer service or complaints department.

Sources and References

Financial Conduct Authority (FCA) investigation period: 6 April 2007 to 1 November 2024
Number of affected agreements: 12.1 million (FCA estimate)
Total mis-selling amount: £7.5 billion (FCA, March 2026)
Average mis-selling per consumer: £829 (FCA estimate)

Frequently Asked Questions

What are common complaints related to motor finance for the Hyundai NEXO?

Common complaints about motor finance for the Hyundai NEXO include mis-selling practices such as high-pressure sales tactics and inadequate disclosure of terms. Some consumers have reported being sold unaffordable contracts or having their credit history exploited without proper explanation.

How can I check if my Hyundai NEXO motor finance agreement was mis-sold?

To determine if your Hyundai NEXO motor finance agreement was mis-sold, review the terms and conditions carefully to ensure they match what you were promised. Look for inconsistencies in documentation or misunderstandings about repayment capabilities.

What should I do if I suspect my Hyundai NEXO motor finance agreement was mis-sold?

If you suspect your Hyundai NEXO motor finance agreement was mis-sold, contact the lender directly to discuss your concerns. You can complain for free and seek clarification on any issues without involving a claims management company.

Are there specific regulations protecting buyers of the Hyundai NEXO from unfair motor finance practices?

Yes, consumers who purchase vehicles like the Hyundai NEXO under motor finance agreements are protected by various consumer protection laws and financial conduct authority rules. These aim to prevent unfair sales tactics such as high-pressure selling and non-disclosure of key information.

Important: MLJ.org.uk is an independent information resource. We are not a claims management company, solicitor, law firm, or financial adviser. We do not process claims, take fees, or provide advice. Where the law gives you a right to complain or claim directly (to a lender, council, FOS, court, or regulator), you can do so without paying a third party. MLJ.org.uk is operated by Copious Ltd, registered in England and Wales, company number 11437826.