The SsangYong Korando e-Motion was commonly sold on
Personal Contract Purchase (PCP) and
Hire Purchase (HP) finance agreements during the Financial Conduct Authority (FCA) investigation period, which spans from 6 April 2007 to 1 November 2024. This period saw widespread mis-selling of motor finance products across the UK automotive industry.
## How the SsangYong Korando e-Motion was Typically Financed
The SsangYong Korando e-Motion, a popular electric vehicle model in recent years, was often financed through PCP and HP agreements. Typical financing terms for this car ranged from £15,000 to £30,000 over a period of 36 to 48 months. Common lenders that provided finance for SsangYong vehicles during this time include
Black Horse, Barclays Partner Finance,
Close Brothers Motor Finance,
MotoNovo Finance, and
Santander Consumer Finance.
For PCP agreements, the vehicle would typically have a balloon payment at the end of the term, which is a large lump sum required to buy out the car or return it to the lender. This can be a significant financial commitment for customers who are not aware of this obligation when they enter into the agreement.
## The FCA Motor Finance Investigation
The FCA launched an investigation into motor finance products sold from 6 April 2007 to 1 November 2024, focusing on
discretionary commission arrangements. These arrangements allowed dealers to receive additional payments for steering customers towards higher-cost financing options rather than cheaper alternatives like cash purchases or lower-interest loans.
According to the FCA's investigation, 12.1 million eligible agreements (FCA, March 2026) by these practices (FCA estimate), with total mis-sold amounts estimated at £7.5 billion (FCA, March 2026). The average cost per customer was around £829 (FCA estimate).
The investigation highlighted significant concerns about the transparency and fairness of motor finance sales processes during this period, leading to widespread consumer harm.
## How to Check Your Agreement Look for any indications of discretionary commission arrangements or terms that suggest you were encouraged to opt for a higher-cost financing option.
Relevant dates include 6 April 2007 and 1 November 2024. If your agreement was signed within this timeframe, it is worth checking if the dealer offered you alternative finance options at the time of purchase.
be on the lookout for any mention of "Discretionary Commission Arrangements" (DCA) in your documentation. This term indicates that your lender or dealership may have received additional payments based on the financing option you chose.
## How to
Complain Directly to Your Lender for Free
If you believe your SsangYong Korando e-Motion finance agreement was affected by mis-selling during the FCA investigation period, it is important to understand that you do not need a
claims management company. You can complain directly to your lender at no cost.
Common lenders who provided financing for the SsangYong Korando e-Motion include Black Horse, Barclays Partner Finance, Close Brothers Motor Finance, MotoNovo Finance, and Santander Consumer Finance. Each of these companies has its own complaint process that you should follow.
When making a complaint, provide detailed information about your finance agreement, including dates, amounts paid, and any relevant documentation showing discretionary commission arrangements or other signs of mis-selling. Your lender is legally obligated to address your concerns promptly and fairly.
You can also seek assistance from the
Financial Ombudsman Service (
FOS) if you are unsatisfied with the response from your lender. The FOS provides a free service for resolving disputes between consumers and financial services companies.
## Sources and References
- Financial Conduct Authority (FCA), 2024
- Office for National Statistics (ONS) Census, 2021
Based on 6,675 MOT tests conducted in 2024 (source: DVSA anonymised test data), the SsangYong Korando has a pass rate of 75.4%. This is below the national average of 79.6%, meaning the Korando has a higher-than-average failure rate in MOT testing.
The Korando pass rate is in line with the overall SsangYong average of 76.7%. The average mileage at MOT for this model is 66,153 miles.
- MOT pass rate: 75.4%
- MOT failure rate: 24.6%
- Tests analysed: 6,675 (2024 DVSA data)
- Average mileage at test: 66,153 miles
- SsangYong average pass rate: 76.7%
- National average pass rate: 79.6%
Data source: DVSA anonymised MOT test results 2024, published under the Open Government Licence v3.0.