The Land Rover Range Rover Velar was commonly sold on
Personal Contract Purchase (PCP) and
Hire Purchase (HP) finance agreements during the FCA investigation period from 6 April 2007 to 1 November 2024. These financing arrangements allowed buyers to enjoy the luxury of a high-end vehicle like the Land Rover Range Rover Velar while managing their finances through structured payment plans.
How the Land Rover Range Rover Velar was Typically Financed
The typical finance amount for purchasing a Land Rover Range Rover Velar ranged from £15,000 to £30,000. When choosing PCP financing, customers usually opted for terms of 36 to 48 months, allowing them to make regular monthly payments while setting aside a final balloon payment at the end of the term. Common finance lenders for Land Rover Range Rover Velar included
Black Horse, Barclays Partner Finance,
Close Brothers Motor Finance,
MotoNovo Finance, and
Santander Consumer Finance.
Balloon payments were often significant in PCP agreements, typically ranging from 30% to 50% of the vehicle's value at the end of the term. This final payment was intended to cover any remaining costs or depreciation not covered by monthly instalments, allowing customers to return the car if they so desired.
The FCA Motor Finance Investigation
In its investigation into motor finance agreements from 6 April 2007 to 1 November 2024, the Financial Conduct Authority (FCA) found that many PCP and HP contracts were sold with
discretionary commission arrangements. These arrangements allowed dealers to receive higher commissions for selling certain types of deals or products, which could influence how these agreements were presented to customers.
The FCA concluded that 12.1 million eligible agreements (FCA estimate) were potentially affected by such practices. The total value of these agreements amounted to approximately £7.5 billion (FCA, March 2026), with the average mis-selling amount per agreement estimated at £829 (FCA estimate).
How to Check Your Agreement Look for any mention of a 'Discretionary Commission Arrangement' or 'DCA'. agreements made between 6 April 2007 and 1 November 2024 should be scrutinised closely to see if they fit the criteria set by the FCA investigation.
If you suspect that your Land Rover Range Rover Velar finance agreement was mis-sold due to a DCA, you can complain directly to your lender without needing to use a
claims management company. Common lenders for Land Rover Range Rover Velar include Black Horse, Barclays Partner Finance, Close Brothers Motor Finance, MotoNovo Finance, and Santander Consumer Finance.
You do not need a claims management company to handle your complaint. Most complaints should be made within six years of the agreement start date, though this can vary based on individual circumstances. Lenders are required by law to respond to your complaint within eight weeks and provide a detailed explanation if they find in favour of the customer.
Sources and References
- Financial Conduct Authority (FCA) investigation into motor finance agreements (6 April 2007 - 1 November 2024)
- FCA estimates on the number of affected agreements, total value, and average mis-selling amount
- Information provided by Close Brothers Motor Finance, Barclays Partner Finance, Black Horse, MotoNovo Finance, and Santander Consumer Finance
Based on 86,661 MOT tests conducted in 2024 (source: DVSA anonymised test data), the Land Rover Range Rover has a pass rate of 82.9%. This is above the national average of 79.6%, meaning the Range Rover performs well in MOT testing.
The Range Rover pass rate is in line with the overall Land Rover average of 82.6%. The average mileage at MOT for this model is 98,796 miles.
- MOT pass rate: 82.9%
- MOT failure rate: 17.1%
- Tests analysed: 86,661 (2024 DVSA data)
- Average mileage at test: 98,796 miles
- Land Rover average pass rate: 82.6%
- National average pass rate: 79.6%
Data source: DVSA anonymised MOT test results 2024, published under the Open Government Licence v3.0.