The Peugeot 2008 was commonly sold on
Personal Contract Purchase (PCP) and
Hire Purchase (HP) finance agreements during the Financial Conduct Authority's (FCA) investigation period, which ran from 6 April 2007 to 1 November 2024. The FCA’s examination of motor finance practices revealed significant issues with
discretionary commission arrangements that affected millions of consumers.
How the Peugeot 2008 was Typically Financed
Peugeot 2008 models were often financed through PCP and HP agreements, which allowed customers to manage payments over a specified term. The typical finance amount for a Peugeot 2008 ranged from £15,000 to £30,000, with terms typically spanning 36-48 months. Common lenders providing finance for the Peugeot 2008 included
Black Horse, Barclays Partner Finance,
Close Brothers Motor Finance,
MotoNovo Finance, and
Santander Consumer Finance.
In PCP agreements, a balloon payment is often required at the end of the term to either buy or return the vehicle. This final amount can represent a significant financial commitment for the borrower if they decide to keep the car.
The FCA Motor Finance Investigation
The FCA's investigation into motor finance practices uncovered that discretionary commission arrangements were prevalent across various lenders during the period under review. These arrangements allowed dealers to receive additional payments from lenders when certain conditions were met, such as customers taking out more expensive or longer-term finance agreements. As a result of these practices, 12.1 million eligible agreements were affected (FCA estimate), with an estimated total value of £7.5 billion (FCA, March 2026) and an average compensation payment of £829 per customer (FCA estimate).
The FCA identified that these discretionary commissions could have influenced dealers to recommend less favourable finance options for customers, potentially leading to overpayment or other financial hardships.
How to Check Your Agreement First, review your finance agreement documents for any mention of discretionary commission arrangements or unusually high fees and charges. Look specifically for terms like “Discretionary Commission Arrangements” (DCA) or similar language.
check if the agreement was signed between 6 April 2007 and 1 November 2024, as these are the dates relevant to the FCA’s investigation.
If you suspect that your Peugeot 2008 finance agreement may have been mis-sold due to discretionary commission arrangements, it is important to know that you can complain directly to your lender at no cost. Common lenders providing finance for the Peugeot 2008 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; many of these companies charge fees that may reduce the amount you receive in compensation. By contacting your lender directly, you can initiate the process without any upfront costs and follow their procedures for resolving disputes.
Sources and References
- Financial Conduct Authority (FCA) estimate figures as of 2024.
- Ongoing FOS guidelines on motor finance complaints.
- Official documents from the FCA regarding discretionary commission arrangements.
Peugeot 2008 [MOT Pass Rate](https://mlj.org.uk/tools/mot-statistics)
Based on 73,733 MOT tests conducted in 2024 (source: DVSA anonymised test data), the Peugeot 2008 has a pass rate of 79.8%. This is close to the national average of 79.6%, meaning the 2008 performs about average in MOT testing.
The 2008 pass rate is better than the overall Peugeot average of 77.1%. The average mileage at MOT for this model is 57,461 miles.
- MOT pass rate: 79.8%
- MOT failure rate: 20.2%
- Tests analysed: 73,733 (2024 DVSA data)
- Average mileage at test: 57,461 miles
- Peugeot average pass rate: 77.1%
- National average pass rate: 79.6%
Data source: DVSA anonymised MOT test results 2024, published under the Open Government Licence v3.0.