The Aprilia Tuareg 660 was commonly sold on Personal Contract Purchase (PCP) and Hire Purchase (HP) finance agreements during the period of the Financial Conduct Authority's (FCA) investigation, which ran from 6 April 2007 to 1 November 2024. This motorbike, known for its adventure-ready performance, often found itself in the hands of riders through these financing arrangements. The FCA’s scrutiny centred on a practice involving discretionary commission payments made by lenders to brokers and dealers that may have misled consumers about the true cost of their finance agreements.
How the Aprilia Tuareg 660 was Typically Financed
The Aprilia Tuareg 660 was typically financed through PCP or HP agreements, with typical finance amounts ranging from £5,000 to £15,000. These arrangements were commonly offered by leading lenders such as Black Horse, Close Brothers Motor Finance, MotoNovo Finance, and Moneybarn. The term for these financing options was usually between 36 and 48 months, with PCP agreements often including a balloon payment at the end of the contract.
The FCA Motor Finance Investigation
The FCA’s investigation uncovered that some lenders paid discretionary commissions to brokers and dealers during the period from April 2007 to November 2024. These payments were made in addition to the standard commission, which could have led consumers to believe their finance agreements were more favourable than they actually were. The FCA estimates that 12.1 million eligible agreements (FCA, March 2026) were affected during this period, resulting in an average overcharge of £829 per agreement (FCA estimate). In total, the estimated loss to consumers stood at around £7.5 billion (FCA, March 2026).
How to Check Your Agreement Look for any mention of a 'discretionary commission' (DCA) arrangement between your lender and the dealer or broker who arranged your financing. Affected agreements would have been signed between April 2007 and November 2024.
If you believe that your finance agreement for an Aprilia Tuareg 660 was affected by the FCA investigation, you should contact your lender directly to discuss your concerns. Common lenders for this vehicle include Black Horse, Close Brothers Motor Finance, MotoNovo Finance, and Moneybarn. You do not need a claims management company; you can complain directly to your lender at no cost.
When reaching out to your lender, be sure to provide them with all relevant documentation related to your finance agreement, including any correspondence or promotional materials that may have influenced your decision-making process. Your lender is required by law to investigate and respond to your complaint within a reasonable timeframe.
Sources and References
- Financial Conduct Authority (FCA). "FCA investigation into motor finance discretionary commission arrangements." Retrieved from https://www.fca.org.uk/
- Office for National Statistics (ONS) Census 2021
- Money Advice Service, UK Government