The Kia Stonic was commonly sold on
Personal Contract Purchase (PCP) and
Hire Purchase (HP) finance agreements during the Financial Conduct Authority's (FCA) investigation period from 6 April 2007 to 1 November 2024. This investigation uncovered widespread mis-selling practices within the motor finance industry, affecting millions of consumers who financed their vehicles through various lenders.
How the Kia Stonic was Typically Financed
The typical financing options for a Kia Stonic involved Personal Contract Purchase (PCP) and Hire Purchase (HP) agreements. Under PCP agreements, customers would pay monthly instalments over 36 to 48 months with an optional balloon payment at the end of the term. The finance amount for a Kia Stonic ranged from £15,000 to £30,000, depending on the model and options selected. Common lenders who provided financing for the Kia Stonic included
Black Horse, Barclays Partner Finance,
Close Brothers Motor Finance,
MotoNovo Finance, and
Santander Consumer Finance.
In a PCP agreement, there is often a Guaranteed Minimum Future Value (GMFV) or balloon payment at the end of the term, which represents an estimate of the car’s residual value. This final payment can be significant, sometimes as high as 30% of the total financed amount for a Kia Stonic.
The FCA Motor Finance Investigation
The FCA's investigation into motor finance mis-selling uncovered that many consumers were sold PCP and HP agreements with inflated interest rates due to
discretionary commission arrangements between lenders and car dealers. These arrangements led to overcharging customers by an average of £829 per agreement (FCA estimate). In total, the mis-selling affected 12.1 million eligible agreements (FCA, March 2026), resulting in a loss of £7.5 billion (FCA, March 2026) for consumers across the UK (FCA estimate).
The court ruling that followed these findings clarified that car dealers and lenders had been using discretionary commission arrangements to inflate interest rates on finance agreements. This practice was deemed unfair and misleading, leading to widespread compensation claims from affected customers.
How to Check Your Agreement1 million eligible agreements (FCA estimate), you should review several key details in your contract. Look for any indication that a discretionary commission was paid or received by either the lender or the car dealer during the sale process. Key terms to watch out for include "DCA" (Discretionary Commission Arrangement) and specific dates within the FCA investigation period from 6 April 2007 to 1 November 2024.
If your agreement contains any reference to a DCA or shows signs of inflated interest rates, the FCA-estimated scheme average is £829 per eligible agreement. under the court ruling. any finance agreement signed during this period should be carefully reviewed to ensure compliance with regulatory requirements.
If you believe your Kia Stonic finance agreement was affected by the FCA investigation, you can complain directly to your lender without involving a
claims management company. Common lenders who provided financing for the Kia Stonic include Black Horse, Barclays Partner Finance, Close Brothers Motor Finance, MotoNovo Finance, and Santander Consumer Finance.
You do not need a claims management company; instead, you can contact your lender's customer service department directly to initiate a complaint. Provide them with evidence that indicates any discrepancies or mis-selling practices in your finance agreement. Most lenders have a dedicated team for handling such complaints and will guide you through the process of seeking compensation.
Sources and References
Based on 16,062 MOT tests conducted in 2024 (source: DVSA anonymised test data), the Kia Stonic has a pass rate of 90.7%. This is above the national average of 79.6%, meaning the Stonic performs well in MOT testing.
The Stonic pass rate is better than the overall Kia average of 81.4%. The average mileage at MOT for this model is 35,928 miles.
- MOT pass rate: 90.7%
- MOT failure rate: 9.3%
- Tests analysed: 16,062 (2024 DVSA data)
- Average mileage at test: 35,928 miles
- Kia 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.