The Skoda Enyaq Coupe, introduced as an electric coupé version of the popular Enyaq iV model, 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. As part of this investigation, the FCA uncovered significant issues with discretionary commission arrangements that affected millions of motor finance agreements across the UK.
How the Skoda Enyaq Coupe was Typically Financed
The Skoda Enyaq Coupe, a sleek and modern electric vehicle, was often financed through PCP and HP agreements during its availability. Typical financing terms for this model ranged from £15,000 to £30,000 with repayment periods of 36 to 48 months. Common lenders who provided finance for the Enyaq Coupe included Black Horse, Barclays Partner Finance, Close Brothers Motor Finance, MotoNovo Finance, and Santander Consumer Finance.
PCP agreements often came with a significant balloon payment at the end of the term, which could be challenging for some buyers to afford without careful planning. The terms and conditions associated with these finance deals should have been transparent and fair, but the FCA investigation revealed that many customers were not adequately informed about potential risks or costs.
The FCA Motor Finance Investigation
The Financial Conduct Authority launched a full investigation into discretionary commission arrangements in motor finance agreements from 6 April 2007 to 1 November 2024. This probe found that discretionary commissions, which are additional payments made by lenders to brokers and dealers for each finance agreement they arranged, were often opaque and could incentivize sales practices that prioritized the lender's or broker's interests over those of the customer.
According to the FCA estimate, 12.1 million eligible agreements (FCA, March 2026) were affected during this period. The total amount involved was approximately £7.5 billion (FCA, March 2026), with the average customer losing out on an estimated £829 (FCA estimate). These figures highlight the significant impact that mis-selling practices had on consumers across various vehicle models, including the Skoda Enyaq Coupe.
How to Check Your Agreement Look for any references to "Discretionary Customer Arrangement" (DCA) or similar terms that indicate discretionary commissions were involved.
check if your agreement was made between 6 April 2007 and 1 November 2024. If your finance deal falls within this timeframe and you suspect it may be affected by the FCA findings, it is important to seek further clarification from your lender or broker.
If you believe that your Skoda Enyaq Coupe finance agreement was mis-sold due to discretionary commission practices, you can complain directly to your lender without needing a claims management company. Common lenders for the Enyaq Coupe include Black Horse, Barclays Partner Finance, Close Brothers Motor Finance, MotoNovo Finance, and Santander Consumer Finance.
These companies are required by law to handle complaints fairly and transparently. You do not need a claims management company to help you with this process; it is perfectly possible-and often more straightforward-to deal directly with your lender. They should provide clear guidance on how to proceed with your complaint and ensure that your concerns are addressed appropriately.
Sources and References
- Financial Conduct Authority (FCA) estimates on the number of affected agreements, total amounts involved, and average losses per customer.
- FOS guidelines for handling complaints related to motor finance agreements.