The Financial Conduct Authority (FCA) has found that motor finance mis-selling could affect as many as 12.1 million eligible agreements (FCA, March 2026) across the UK, including those involving Hyundai cars in Scotland. With an estimated 513,759 residents potentially affected by this issue in Scotland alone (ONS/FCA estimate), it is crucial for local drivers to understand their rights when financing a Hyundai car.
Hyundai Car Finance in Scotland
In Scotland, many residents opt for Personal Contract Purchase (PCP) or Hire Purchase (HP) plans when buying a new Hyundai. These finance agreements are commonly offered by major lenders such as Nationwide, Santander, and Volkswagen Financial Services, among others. PCP is particularly popular due to its lower monthly payments and option to buy the car outright at the end of the term or return it.
How Scotland Residents Can Check Their Hyundai Finance Agreement
Scotland residents who financed their Hyundai car should review their finance agreement carefully. Key items to look for include:
- Discretionary Commission Arrangement (DCA): Some agreements may have hidden fees, such as a DCA, which can inflate the overall cost of financing.
- Interest rate and APR: Ensure that the advertised interest rates match what is in your contract.
- Key dates: Check the start date of your agreement, any payment holidays, and the end date when you must either return or purchase the car.
Reviewing these details helps identify discrepancies and potential mis-selling issues. The FCA estimates that the total amount involved could be as high as £7.5 billion (FCA, March 2026) with an average claim value of approximately £829 (FCA estimate).
Complaining to Your Lender for Free
Scotland residents who suspect they have been mis-sold their Hyundai car finance should first complain directly to the lender, without involving a claims management company. This process is free and straightforward:
- Gather Evidence: Collect all relevant documents, including your finance agreement, payment history, and any correspondence with your lender.
- Write Your Complaint: Clearly outline why you believe the agreement was mis-sold or unfair. Include specific examples from your contract and supporting evidence.
- Send the Complaint: Submit your complaint to your lender via email or post. Keep a copy of all communication for reference.
The FCA has found that many car finance agreements, including those involving Hyundai vehicles in Scotland, may have been subject to mis-selling practices during the period from 6 April 2007 to 1 November 2024 (FCA estimate). By following these steps, you can address any issues directly with your lender and seek a resolution. You do not need a claims management company to handle this process for you.
Sources and References
- Financial Conduct Authority (FCA), 2024
- Office of National Statistics (ONS) Census 2021
Hyundai Finance Claims in Scotland
With a population of approximately 5,450,000, an estimated 1,138,805 motor finance agreements in Scotland 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.