The Aprilia RS 660, a high-performance sports motorcycle that hit the market with significant popularity, 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. This period saw thousands of motorbike owners like those who financed their RS 660s struggling with potentially unfair terms and conditions due to discretionary commission arrangements made by finance companies.
How the Aprilia RS 660 was Typically Financed
The Aprilia RS 660, being a premium sports motorcycle, often came with a price tag of £5,000-£15,000. Commonly, buyers opted for PCP or HP finance agreements provided by lenders such as
Black Horse,
Close Brothers Motor Finance,
MotoNovo Finance, and
Moneybarn. These agreements were structured to allow consumers to make manageable monthly payments while having the option to return the bike at the end of the term or purchase it outright.
PCP terms typically ranged from 36 to 48 months with a balloon payment due at the end if the buyer chose to own the motorcycle. The balloon payment, also known as the Guaranteed Minimum Future Value (GMFV), was set based on the lender's prediction of what the bike would be worth after the term ended. This arrangement allowed for lower monthly payments compared to HP but required a significant lump sum at the end or an option fee if ownership was not pursued.
The FCA Motor Finance Investigation
The FCA launched an investigation into discretionary commission arrangements made by motor finance companies, revealing that many consumers were unknowingly affected by unfair terms. It emerged that dealers and brokers could receive additional payments from lenders for steering customers towards certain products, including PCP agreements. This practice potentially led to higher costs for consumers and obscured the true nature of their financial obligations.
According to the FCA's estimates, 12.1 million eligible agreements (FCA, March 2026) by these arrangements during the investigation period (FCA estimate), resulting in a total of £7.5 billion (FCA, March 2026) worth of unfair charges (FCA estimate). On average, each consumer paid an extra £829 due to these hidden commissions (FCA estimate).
How to Check Your Agreement Look for specific terms and conditions that mention "Discretionary Commission Arrangements" or "DCA." If your agreement includes these phrases, it indicates a potential issue with the terms of your finance.
Relevant dates to consider are from 6 April 2007 onwards when the FCA investigation period began. Finance agreements signed during this period and beyond should be scrutinised closely for any unfair practices. If you suspect that your agreement was influenced by hidden commissions, it is advisable to seek legal advice or contact your lender directly.
You do not need a
claims management company to address potential issues with your Aprilia RS 660 finance agreement. Common lenders such as Black Horse, Close Brothers Motor Finance, MotoNovo Finance, and Moneybarn all have dedicated departments to handle customer complaints. You can complain directly to these lenders without incurring any additional fees.
When contacting your lender, provide them with a detailed account of why you believe your finance agreement is unfair or affected by discretionary commission arrangements. Be prepared to share relevant documentation from your contract that supports your claims. If the lender does not address your concerns adequately, you can escalate the issue to the Financial Ombudsman Service (FOS) for further investigation.
Sources and References
- FCA estimates of motor finance agreements: 12.1 million eligible agreements (FCA estimate), £7.5 billion (FCA, March 2026) total (FCA estimate), £829 average per eligible agreement
- ONS Census data (ONS Census 2021)
- Financial Conduct Authority publications (FCA, 2024)