Hyundai car finance in Lancashire has been a common choice for many residents since 2007, with numerous individuals opting to purchase their vehicles through Personal Contract Purchase (PCP) and Hire Purchase (HP) agreements. The Office of National Statistics (ONS) estimates that approximately 116,896 residents in Lancashire may have been affected by potential mis-selling of car finance products during the period from 6 April 2007 to 1 November 2024.
Hyundai Car Finance in Lancashire
In Lancashire, many residents who chose a new or used Hyundai vehicle often financed their purchase through major lenders such as Santander and Hitachi. These financing methods allowed them to drive the car of their choice while spreading out the cost over time. However, due to widespread mis-selling practices, some residents might have entered into agreements that were not in their best interest.
The Office for Statistics Regulation (OSR) estimates that 12.1 million eligible agreements could be affected by mis-selling across the UK during the specified period (FCA estimate). Lancashire, with a population of approximately 1.237 million (ONS Census 2021), represents a significant portion of this statistic.
How Lancashire Residents Can Check Their Hyundai Finance Agreement
Residents in Lancashire who purchased a Hyundai car through PCP or HP finance can check their agreements for potential mis-selling issues. Key elements to look for include the terms and conditions, interest rates, and any additional fees. The FCA estimates that affected customers could be entitled to refunds averaging £829 (FCA estimate), with a total of £7.5 billion (FCA, March 2026) potentially available across all affected agreements.
One critical aspect to investigate is whether your agreement includes a discretionary commission arrangement (DCA). This practice was common in the industry and may have led to higher financing costs for consumers without their knowledge or consent.
Residents should also review the date when they entered into the finance agreement, as this can help determine if it falls within the specified period from 6 April 2007 to 1 November 2024. If any discrepancies are found, it is advisable to contact your lender immediately for clarification and potential rectification.
Complaining to Your Lender for Free
If you suspect that your Hyundai car finance agreement in Lancashire was mis-sold, you can complain directly to your lender without the need for a claims management company. Here’s how:
- Gather Documentation: Collect all relevant documents related to your car finance agreement, including any letters or emails from your lender.
- Write a Formal Complaint: Draft a clear and concise letter outlining your concerns. Include specific details about what you believe went wrong and why you think it was mis-sold.
- Contact Your Lender: Submit your complaint directly through the lender's official channels, such as their website or by sending a letter via post.
- Follow Up: Keep track of any correspondence with your lender and follow up if necessary to ensure your concerns are addressed.
It’s important to remember that you do not need a claims management company to handle this process for you. Many lenders have dedicated teams trained to resolve complaints efficiently, and they can provide assistance directly at no cost to the customer.
Sources and References
- Financial Conduct Authority (FCA) estimates on affected agreements: 12.1 million eligible agreements (FCA, March 2026)
- Total estimated mis-selling value: £7.5 billion (FCA, March 2026)
- FCA-estimated scheme average per eligible agreement: £829 (FCA estimate)
- Lancashire population data: ONS Census 2021
- Regulatory oversight and statistics: Office for Statistics Regulation (OSR)
Hyundai Finance Claims in Lancashire
With a population of approximately 1,500,000, an estimated 313,432 motor finance agreements in Lancashire 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.