Was your Kia EV9 sold to you on a Personal Contract Purchase (PCP) or Hire Purchase (HP) finance agreement between 6 April 2007 and 1 November 2024? If so, it is possible that your finance agreement was affected by the Financial Conduct Authority's (FCA) motor finance investigation.
The Kia EV9 was commonly sold on PCP and HP finance agreements during this period. These financing options allowed buyers to purchase a car without making large upfront payments, spreading the cost over time with manageable monthly instalments. However, many of these agreements may have been subject to misleading sales practices and unfair terms due to discretionary commission arrangements between lenders and dealerships.
How the Kia EV9 was Typically Financed
The Kia EV9 is often financed through Personal Contract Purchase (PCP) or Hire Purchase (HP) plans that range from £15,000 to £30,000. Common finance providers for the EV9 include Black Horse, Barclays Partner Finance, Close Brothers Motor Finance, MotoNovo Finance, and Santander Consumer Finance.
A typical PCP agreement might span 36-48 months with a balloon payment due at the end of the term if you choose to buy or lease the car again. This balloon payment can be significant, often equal to around 25% of the vehicle’s original value. In some cases, these agreements may have been structured in ways that were not fully transparent to consumers.
The FCA Motor Finance Investigation
The FCA's investigation into motor finance uncovered widespread misuse of discretionary commission arrangements. These practices led to millions of customers being sold finance products on unfair terms, resulting in inflated prices and hidden fees. According to the FCA’s estimates, 12.1 million eligible agreements (FCA, March 2026) (FCA, March 2026).2 billion (FCA estimate).
The investigation led to court rulings that clarified dealerships and lenders must be transparent about their commission practices, ensuring fair dealing for consumers.
How to Check Your Agreement Look for any mention of "Discretionary Commission Arrangements" (DCA) or similar wording in your agreement documents. The relevant dates to consider are from 6 April 2007 through 1 November 2024.
If you notice discrepancies or suspect that your terms were influenced by unfair DCA practices, it is important to take action promptly. Contact your lender directly for a review of your finance agreement and request any necessary documentation supporting your case.
You do not need a claims management company to handle your complaint. Common lenders such as Black Horse, Barclays Partner Finance, Close Brothers Motor Finance, MotoNovo Finance, and Santander Consumer Finance provide customer service channels where you can submit detailed complaints at no cost.
When preparing your case, gather all relevant evidence, including your finance agreement documents, any correspondence with the dealership or lender, and details of the terms that appear unfair. Present this information clearly to your lender in writing and request a full review of your agreement based on the FCA's findings.
Sources and References
- Financial Conduct Authority (FCA). "Motor Finance Investigation". 2024.
- Office for National Statistics (ONS) Census Data, 2021.