The Peugeot 508 SW was commonly sold on
Personal Contract Purchase (PCP) and
Hire Purchase (HP) finance agreements during the period from 6 April 2007 to 1 November 2024, which coincided with a major investigation by the Financial Conduct Authority (FCA). The FCA's inquiry into motor finance highlighted significant issues related to
discretionary commission arrangements that affected millions of consumers across various car models and brands.
How the Peugeot 508 SW was Typically Financed
The Peugeot 508 SW, like many other vehicles during this period, was often sold on PCP or HP agreements. Typical financing ranged from £15,000 to £30,000 with terms spanning 36 to 48 months. Common lenders providing finance for the Peugeot 508 SW included
Black Horse, Barclays Partner Finance,
Close Brothers Motor Finance,
MotoNovo Finance, and
Santander Consumer Finance.
PCP agreements often featured a balloon payment at the end of the term, which could be paid in full or used to start a new agreement on another vehicle. This structure allowed consumers to manage their monthly payments more effectively but also exposed them to potential mis-selling issues if not properly explained during the sales process.
The FCA Motor Finance Investigation
The Financial Conduct Authority (FCA) conducted an extensive investigation into motor finance agreements, revealing widespread concerns about discretionary commission arrangements between lenders and car dealerships. These practices often led to inflated prices for consumers, with many unknowingly paying more than necessary for their vehicles.
According to the FCA's findings, 12.1 million eligible agreements (FCA, March 2026) during the investigation period (FCA estimate). The total overpayment across all affected consumers was estimated at £7.5 billion (FCA, March 2026), averaging around £829 per individual agreement (FCA estimate).
How to Check Your Agreement Look for any indications that a discretionary commission arrangement may have been in place at the time of financing. Key terms to look out for include "discretionary commission" or "DCA," which signifies a dealer discretion arrangement.
Relevant agreements would fall within the period from 6 April 2007 to 1 November 2024, and you should also check if your finance agreement was with one of the common lenders mentioned earlier. If you suspect that your agreement may have been affected, it is advisable to gather all relevant documentation before proceeding with a complaint.
If you believe your Peugeot 508 SW finance agreement has been mis-sold due to discretionary commission arrangements, the first step is to contact your lender directly. Common lenders such as Black Horse, Barclays Partner Finance, Close Brothers Motor Finance, MotoNovo Finance, and Santander Consumer Finance all have dedicated teams to handle complaints.
You do not need a
claims management company to make a complaint; you can manage this process independently for free. Gather all relevant documentation, including your finance agreement, payment receipts, and any correspondence with the lender. Present your case clearly, stating why you believe there may have been mis-selling involved in your agreement.
Sources and References
- Financial Conduct Authority (FCA). "Motor Finance Investigation." 2024.
- Financial Ombudsman Service (FOS). "Consumer Complaints Data." 2024.
Based on 17,212 MOT tests conducted in 2024 (source: DVSA anonymised test data), the Peugeot 508 has a pass rate of 79.3%. This is close to the national average of 79.6%, meaning the 508 performs about average in MOT testing.
The 508 pass rate is better than the overall Peugeot average of 77.1%. The average mileage at MOT for this model is 95,770 miles.
- MOT pass rate: 79.3%
- MOT failure rate: 20.7%
- Tests analysed: 17,212 (2024 DVSA data)
- Average mileage at test: 95,770 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.