The Renault Koleos, a popular mid-size SUV, 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. The FCA found that many of these finance deals were mis-sold due to
discretionary commission arrangements, affecting millions of car buyers across the UK.
How the Renault Koleos was Typically Financed
During the period in question, the Renault Koleos was often financed through PCP and HP agreements with various lenders such as
Black Horse, Barclays Partner Finance,
Close Brothers Motor Finance,
MotoNovo Finance, and
Santander Consumer Finance. These finance deals typically ranged from £15,000 to £30,000 for a term of 36 to 48 months.
In PCP agreements, customers would pay monthly instalments with the option to either return the car at the end of the contract or make a final balloon payment to own it outright. This final payment is often significantly higher than expected, leading many buyers into financial difficulties when they cannot afford this lump sum.
The FCA Motor Finance Investigation
The FCA investigation revealed that many car dealerships were incentivised by discretionary commission arrangements from lenders. These commissions, which could amount to hundreds of pounds per deal, encouraged dealers to push customers towards higher-cost finance options like PCP rather than cheaper alternatives such as HP or cash purchases.
According to the FCA's findings, 12.1 million eligible agreements (FCA, March 2026) were affected by these practices across the UK, with a total value of £7.5 billion (FCA, March 2026). On average, each affected agreement resulted in an overcharge of approximately £829 (FCA estimate).
How to Check Your Agreement Look for evidence that you were offered a PCP or HP deal during the specified timeframe from 6 April 2007 to 1 November 2024.
Key indicators of an affected agreement include:
- The presence of a discretionary commission arrangement (DCA) in the finance terms.
- A balloon payment at the end of your contract that was higher than expected or affordable.
If you find any discrepancies or suspect mis-selling, it is advisable to contact your lender directly for clarification and further guidance. You can also seek assistance from free resources such as the
Financial Ombudsman Service (
FOS) if needed.
You do not need a
claims management company to handle your Renault Koleos finance agreement complaint. Common lenders like Black Horse, Barclays Partner Finance, Close Brothers Motor Finance, MotoNovo Finance, and Santander Consumer Finance have their own customer service departments that can help resolve issues.
To start the process:
1.
Gather Documentation: Collect all relevant paperwork, including your original finance agreement, loan statements, and any correspondence with your lender.
2.
Contact Your Lender: Reach out to your lender's customer service team via phone or email to explain your concerns about potential mis-selling.
3.
Formal Complaint: If you do not receive a satisfactory response after initial contact, submit a formal complaint in writing detailing the issues and requesting a review of your agreement.
You can complain directly to your lender for free without involving any third-party claims management companies.
Sources and References
- Financial Conduct Authority (FCA). "Motor Finance Market Study." FCA Publications, 2024.
- Office for National Statistics (ONS) Census 2021.
Based on 3,700 MOT tests conducted in 2024 (source: DVSA anonymised test data), the Renault Koleos has a pass rate of 79.8%. This is close to the national average of 79.6%, meaning the Koleos performs about average in MOT testing.
The Koleos pass rate is better than the overall Renault average of 74.3%. The average mileage at MOT for this model is 74,559 miles.
- MOT pass rate: 79.8%
- MOT failure rate: 20.2%
- Tests analysed: 3,700 (2024 DVSA data)
- Average mileage at test: 74,559 miles
- Renault average pass rate: 74.3%
- National average pass rate: 79.6%
Data source: DVSA anonymised MOT test results 2024, published under the Open Government Licence v3.0.