Was your Mitsubishi ASX 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's possible that your finance arrangement was part of the Financial Conduct Authority’s (FCA) motor finance investigation.
How the Mitsubishi ASX Was Typically Financed
The Mitsubishi ASX was commonly sold on PCP agreements during the FCA investigation period, with typical loan amounts ranging from £15,000 to £30,000. These loans were typically structured over a term of 36 to 48 months, and common finance lenders included
Black Horse, Barclays Partner Finance,
Close Brothers Motor Finance,
MotoNovo Finance, and
Santander Consumer Finance.
In PCP agreements for the Mitsubishi ASX, customers would make monthly payments and at the end of the agreement (or sooner), face a final payment known as a balloon or guaranteed minimum future value (GMFV). This GMFV is an estimate of what the car will be worth when the finance term ends. If you were unable to return the vehicle due to a shortfall, you would need to pay this balance in full.
The FCA Motor Finance Investigation
The FCA found that many lenders used
discretionary commission arrangements during the sale of PCP and HP agreements for vehicles like the Mitsubishi ASX. These arrangements allowed dealerships and brokers to receive payments based on the type of finance agreement chosen by customers, which could incentivise them to push more expensive options.
According to the FCA’s investigation, 12.1 million eligible agreements (FCA, March 2026) by these practices during this period (FCA estimate). The total amount involved in these mis-selling cases was estimated at £7.5 billion (FCA, March 2026), with an average individual claim of £829 (FCA estimate).
How to Check Your Agreement
- Finance Provider: Check if it was one of the common lenders mentioned earlier: Black Horse, Barclays Partner Finance, Close Brothers Motor Finance, MotoNovo Finance, or Santander Consumer Finance.
- Discretionary Commission Arrangement (DCA): Look for references to DCA in your finance documents. If present, this may indicate that a discretionary commission was paid and could have influenced the type of agreement you chose.
If you believe your Mitsubishi ASX financing was mis-sold due to these practices, you can complain directly to your lender without needing any
claims management company. Here’s how:
1.
Identify Your Finance Provider: Review the documents from when you bought your Mitsubishi ASX to determine which finance provider you used.
2.
Contact Your Lender: Reach out to them via phone or email and explain that you believe there may have been an issue with discretionary commission arrangements during the sale of your PCP or HP agreement.
3.
Provide Documentation: Include copies of any relevant documents, such as your finance contract and proof of purchase, to support your claim.
4.
Follow Up: If you do not receive a response within 8 weeks, escalate your complaint through their internal complaints procedure.
You can complain directly to your lender for free (FCA estimate) without the need for a claims management company (CMS). Many people find that they are able to resolve issues with lenders independently by following these steps.
Sources and References
- Financial Conduct Authority. (2024). FCA motor finance investigation.
- Office for National Statistics Census 2021
- Motor Finance Association
- Financial Ombudsman Service
Based on 27,129 MOT tests conducted in 2024 (source: DVSA anonymised test data), the Mitsubishi Asx has a pass rate of 81.9%. This is close to the national average of 79.6%, meaning the Asx performs about average in MOT testing.
The Asx pass rate is better than the overall Mitsubishi average of 79.8%. The average mileage at MOT for this model is 75,665 miles.
- MOT pass rate: 81.9%
- MOT failure rate: 18.1%
- Tests analysed: 27,129 (2024 DVSA data)
- Average mileage at test: 75,665 miles
- Mitsubishi average pass rate: 79.8%
- National average pass rate: 79.6%
Data source: DVSA anonymised MOT test results 2024, published under the Open Government Licence v3.0.